Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    24335 Monroe Ave Murrieta, CA 92562-9517
    Back to Search
    Property profile & analytics

    24335 Monroe Ave, Murrieta, CA 92562-9517

    View on Map
    • Warehouses
    • 1,500 SF
    • 3.91 lot acres
    Off-Market
    Last Sale Oct 5, 2023
    Property ID
    US09-0913669
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Synthetic Performance Solutions Group / Auto Repair Shop
    • CubeSmart Self Storage / Storage Facility

    Property Details for 24335 Monroe Ave

    Year built
    1999
    Construction
    WOOD
    Lot size
    3.91 lot acres
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    949-580-001
    APU
    949580001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 5, 2023 — Cubesmart LP Laaco Ltd Grant Deed —
    Sep 20, 1999 $2,800,000 Laaco Ltd Christensen Trust Grant Deed —
    Aug 11, 1998 $615,000 Christensen Trust Cal Oaks 1368 Investors Trustees Deed —
    Aug 11, 1998 — Christensen Trust — Grant Deed · related $2M · International City Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Murrieta
    County
    Riverside
    State
    California
    Longitude
    -117.208
    Latitude
    33.5684
    CBSA code
    40140
    CBSA name
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $165,372
    $1,700,000
    $12,379,014
    $14,079,014
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      25698 Adams Ave

      MINI-WAREHOUSE, STORAGE
      25698 Adams Ave, Murrieta, CA 92562-7099
      View Details
    • Value Estimation
      $10,135,000
      39,680 SF

      41451 Kalmia St

      MINI-WAREHOUSE, STORAGE
      41451 Kalmia St, Murrieta, CA 92562-9456
      View Details
    • Value Estimation by Request

      25485 Jefferson Ave

      MINI-WAREHOUSE, STORAGE
      25485 Jefferson Ave, Murrieta, CA 92562-9745
      View Details
    • Value Estimation by Request

      26217 Jefferson Ave Ste A

      MINI-WAREHOUSE, STORAGE
      26217 Jefferson Ave Ste A, Murrieta, CA 92562-6967
      View Details
    • Value Estimation
      $10,825,000
      40,500 SF

      41451 Kalmia St

      MINI-WAREHOUSE, STORAGE
      41451 Kalmia St, Murrieta, CA 92562-9456
      View Details
    • Value Estimation
      $650,000
      2,004 SF

      25698 Adams Ave

      WAREHOUSE, STORAGE
      25698 Adams Ave, Murrieta, CA 92562-7099
      View Details

    Similar Nearby for Sale

    • $1,450,000
      4,843 SF

      Versatile Commercial Building in Murrieta

      Commercial building in prime Murrieta location, ideal for various uses.
      41610 Date St, Murrieta, CA 92562
      View Details
    • $1,995,000
      6,000 SF

      Murrieta Commercial Flex Space

      6000 sqft flex space with office and warehouse components.
      41551 Date St, Murrieta, CA 92562
      View Details
    • $1,490,000

      Land with Development Potential

      Land suitable for multi-family or commercial development.
      25195 Jackson Ave, Murrieta, CA 92562
      View Details
    • $1,995,000

      Light Industrial Flex Space Available

      6000 sqft light industrial space with office and warehouse.
      41551 Date St, Murrieta, CA 92562
      View Details
    • $2,131,800

      Industrial Flex Space For Sale

      Industrial flex space with existing lease income and vacant suite.
      26163 Jefferson Ave, Murrieta, CA 92562
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Murrieta Commercial Space For Rent

      High-exposure commercial space in Murrieta's Jefferson Avenue Business Corridor.
      26047 Jefferson Ave, Murrieta, CA 92562
      View Details
    • Contact for pricing

      Industrial Flex Space Available

      Multi-tenant building with warehouse and office space for lease.
      41831 Mcalby Ct, Murrieta, CA 92562
      View Details
    • Contact for pricing
      1,629 SF

      Murrieta Warehouse Space Available

      Multi-tenant building with office, showroom, and warehouse space.
      41555 Cherry St, Murrieta, CA 92562
      View Details
    • Contact for pricing

      Industrial Space for Lease

      Industrial space featuring office improvements, warehouse, and roll-up door.
      41571 Corning Pl, Murrieta, CA 92562
      View Details
    • $1.35 SF/Yr
      2,155 SF

      Industrial Unit with Truck Storage

      Industrial unit featuring truck storage, reception, office, and restroom.
      41715 Elm St, Murrieta, CA 92562
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    24335 Monroe Ave
    Murrieta, CA 92562-9517
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    24335 Monroe Ave, Murrieta, CA, 92562
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!