Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24770 Washington Ave Murrieta, CA 92562

    • Turn key restaurants
    • 1,343 SF
    • 0.61 lot acres
    OFF-MARKET
    Last Sale
    Jun 13, 2024
    $950,000
    Value Estimations
    $950,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2776963
    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.

    Current Use by Public Records

    • Barnes Corp / Big Box & Wholesale Store / Building Supply

    Property Details for 24770 Washington Ave

    Year built
    1900
    Construction
    WOOD
    Lot size
    0.61 lot acres
    Property size
    1,343 SF
    Zone code
    C1CP
    Property type
    Turn key restaurants
    APN
    906-102-020
    APU
    906102020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $950,000
      ML approach
      $950,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $824,000
      Market price range: $354k - $1.50M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $835,000
      Current use
      COMMERCIAL (GENERAL)
      $1,375,000
      Change: +65% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,155,000
      Change: +39% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Murrieta
    County
    Riverside
    State
    California
    Longitude
    -117.214
    Latitude
    33.5542
    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
    $10,844
    $585,000
    $365,000
    $950,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3,480 SF

      40720 California Oaks Rd

      RESTAURANT • 3,480 SF
      40720 California Oaks Rd, Murrieta, CA 92562-5727
      View Details
    • Value Estimation by Request
      2,232 SF

      40702 California Oaks Rd

      RESTAURANT • 2,232 SF
      40702 California Oaks Rd, Murrieta, CA 92562-5727
      View Details
    • Value Estimation
      $765,000
      3,730 SF

      23819 Clinton Keith Rd

      RESTAURANT • 3,730 SF
      23819 Clinton Keith Rd, Murrieta, CA 92562
      View Details
    • Value Estimation
      $4,130,000
      5,395 SF

      24872 Madison Ave

      RESTAURANT • 5,395 SF
      24872 Madison Ave, Murrieta, CA 92562-6046
      View Details
    • Value Estimation
      $2,975,000
      2,100 SF

      25250 Madison Ave

      RESTAURANT • 2,100 SF
      25250 Madison Ave, Murrieta, CA 92562-8912
      View Details
    • Value Estimation by Request

      24640 Madison Ave

      RESTAURANT
      24640 Madison Ave, Murrieta, CA 92562-9723
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,361 SF

      Del Taco Drive-Thru For Sale

      Del Taco drive-thru restaurant with corporate guarantee in Murrieta.
      27596 Clinton Keith Rd, Murrieta, CA 92562
      View Details
    • $2,490,000
      143,748.00 Acres

      Murrieta Development Opportunity on 3.3 Acres

      High-exposure commercial property in a rapidly growing Southern California city.
      24585 Adams Ave, Murrieta, CA 92562
      View Details
    • Contact for pricing
      733 SF

      Historic Downtown Murrieta Corner Property

      Unique corner property in historic downtown Murrieta, approximately 0.5 acres.
      42030 C St, Murrieta, CA 92562
      View Details
    • $1,125,000

      Commercial Condo For Sale

      Commercial condo available for purchase. Do not disturb tenant.
      26855 Jefferson Ave, Murrieta, CA 92562
      View Details
    • $15,000,000
      24,698 SF

      Turn-Key Car Dealership Opportunity

      Turn-key car dealership available for sale or lease.
      26825 Auto Mall Pkwy, Murrieta, CA 92562
      View Details
    • $3,550,000

      Retail Property in Prime Location

      4,492 SF retail property built in 2010 in Murrieta, CA.
      27722 Clinton Keith Rd, Murrieta, CA 92562
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Murrieta Retail Spaces For Lease

      Super regional shopping center with anchor, theater, and restaurant spaces.
      Murrieta Hot Springs Rd, Murrieta, CA 92562
      View Details
    • $36 SF/Yr
      24,698 SF

      Murrieta Auto Mall Retail Space

      High-traffic retail space available.
      26825 Auto Mall Pkwy, Murrieta, CA 92562, Murrieta, CA 92562
      View Details
    • Contact for pricing

      Retail Space in Sierra Vista

      Retail space for lease in busy shopping center.
      25030-25100 Hancock Ave, Murrieta, CA 92562
      View Details
    • Contact for pricing

      Nutmeg Plaza Retail/Medical Opportunity

      Prime retail/medical space in Murrieta's Green Ranch community.
      23644 Clinton Keith Rd, Murrieta, CA 92562
      View Details
    • Contact for pricing

      Retail Space in Murrieta Center

      Retail space available in shopping center with major anchor tenants.
      25260-25270 Madison Ave, Murrieta, CA 92562
      View Details
    • Contact for pricing
      1,150 SF

      Retail Space Available

      End cap retail space for rent.
      24360-24410 Village Walk Pl, 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.
    24770 Washington Ave
    Murrieta, CA 92562
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!