Technical
Financial
Distress signals
Property profile

23971 Newport Dr Canyon Lake, CA 92587

OFF-MARKET
Grocery and convenience stores
Property ID
US10-3224654
1,085 SF 0.12 ac lot Built 1937
Individually Owned 3-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional commercial property presents a rare opportunity in the burgeoning Menifee market. Located at 23971 Newport Drive, this 1,085 square foot office space has undergone a complete remodel, boasting newer windows, electrical system, energy-efficient LED ceiling lights, fresh drywall, paint, flooring, and fixtures. The property includes a detached two-car garage/workshop, ideal for storage or additional workspace. While currently utilized as a tax preparation business, its versatile layout lends itself to a variety of commercial uses. A significant advantage is the expansive lot size. Although the main building sits on a 0.35-acre parcel, the sale encompasses two additional connecting parcels, totaling 15,246 square feet of land. These additional lots are fully fenced, providing ample space for expansion, outdoor storage, or additional development. This property offers a unique blend of renovated interior space and substantial land area, making it an attractive investment in a rapidly growing area. The combination of a remodeled building and the significant additional land presents a compelling opportunity for both established businesses and forward-thinking entrepreneurs. The property's location in Menifee, CA, offers easy access to major transportation routes and a thriving community.

Property profile

Verified
Property type Grocery and convenience stores
Use group CONVENIENCE STORE
Year built 1937
Construction WOOD
Total area 1,085 SF
Lot 0.12 ac (5,227 SF)
Zoning code C1/CP
APN 350-285-010
UPID US10-3224654

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

23971 Newport Dr Canyon Lake, CA 92587-9015
Canyon Lake metro Census 42717 RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$240k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$315k

Owner & transaction history

since 2023
Last sale
$290,000
7 recorded transactions
2025
Price N/A
2023
Price N/A
2022
$290,000
2015
$125,000
2015
Price N/A
2013
$277,823
2013
Price N/A

Zoning & alternative use

C1/CP · Canyon Lake, CA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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