Sign Up Successful!
You now have access to more from Realmo!
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

    24875 Iris Ave Moreno Valley, CA 92551-7207

    • Drive through restaurants
    • 2,670 SF
    • 0.55 lot acres
    OFF-MARKET
    Last Sale
    Feb 07, 2022
    $2,899,500
    Value Estimations
    $2,445,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3579420
    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

    • The Habit Burger Grill / Restaurant / Hamburger Restaurant

    Property Details for 24875 Iris Ave

    Year built
    2023
    Construction
    TILT-UP CONCRETE
    Lot size
    0.55 lot acres
    Property size
    2,670 SF
    Property type
    Drive through restaurants
    APN
    316-030-024
    APU
    316030024

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,270,000
      ML approach
      $2,520,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,979,000
      Market price range: $704k - $2.98M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,660,000
      Current use
      COMMERCIAL (GENERAL)
      $2,735,000
      Change: +65% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Moreno Valley
    County
    Riverside
    State
    California
    Longitude
    -117.227
    Latitude
    33.8881
    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
    $38,900
    $416,654
    $3,045,000
    $3,461,654
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      25045 Red Maple Ln Ste, Unit 204

      DRIVE-THRU RESTAURANT, FAST FOOD
      25045 Red Maple Ln Ste, Moreno Valley, CA 92551-1140
      View Details
    • Value Estimation by Request

      16380 Perris Blvd Ste J

      DRIVE-THRU RESTAURANT, FAST FOOD
      16380 Perris Blvd Ste J, Moreno Valley, CA 92551-1134
      View Details
    • Value Estimation
      $315,000
      6.55 Acres

      25960 Iris Ave Ste 6c

      DRIVE-THRU RESTAURANT, FAST FOOD • 6.55 Acres
      25960 Iris Ave Ste 6c, Moreno Valley, CA 92551-1659
      View Details
    • Value Estimation
      $535,000
      2,857 SF

      15030 Perris Blvd

      RESTAURANT • 2,857 SF
      15030 Perris Blvd, Moreno Valley, CA 92551-4597
      View Details
    • Value Estimation
      $235,000
      6.55 Acres

      25970 Iris Ave Ste 6b

      RESTAURANT • 6.55 Acres
      25970 Iris Ave Ste 6b, Moreno Valley, CA 92551-1660
      View Details
    • Value Estimation
      $440,000
      3,129 SF

      15991 Perris Blvd

      RESTAURANT • 3,129 SF
      15991 Perris Blvd, Moreno Valley, CA 92551-4692
      View Details

    Similar Nearby for Sale

    • $8,000,000
      213,008 SF

      Truck Yard with Approved CUP

      4.89 acre truck yard with existing office space.
      24811 Rivard Rd, Moreno Valley, CA 92551
      View Details
    • New
      $975,000
      3,600 SF

      Moreno Valley Income Property

      Four-unit income property in Moreno Valley with immediate cash flow.
      15139 Elm Ct, Moreno Valley, CA 92551
      View Details
    • $145,000

      Remodeled Mobile Home in Park

      Updated double wide mobile home in a family park.
      25350 Santiago Dr, Moreno Valley, CA 92551
      View Details
    • Contact for pricing
      21,700 SF

      Rivard Road Industrial Park

      43,400 SF industrial building with secured yard for sale.
      24830-24840 Rivard Rd, Moreno Valley, CA 92551
      View Details
    • Contact for pricing
      38,820 SF

      Freestanding Industrial Building Available

      Ready for occupancy with office, mezzanine, and secured yard.
      24915 Rivard Rd, Moreno Valley, CA 92551
      View Details
    • $399,900
      1,444 SF

      Charming Condo in Gated Community

      2-bedroom condo in a gated community, close to amenities.
      25840 Iris Ave, Moreno Valley, CA 92551
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      87,183 SF

      Moreno Valley Retail Space Available

      Prime Retail Space, 87,183 SF Total
      25900 Iris Ave, Moreno Valley, CA 92551
      View Details
    • Contact for pricing
      13,013 SF

      Moreno Valley Retail Space

      13,013 SF Retail Building, High Traffic
      15025 Perris Blvd, Moreno Valley, CA 92551
      View Details
    • $1.05 SF/Yr
      437,675 SF

      Industrial Building with Trailer Parking

      Industrial building featuring ample trailer parking and freeway access.
      17783 N Indian St, Moreno Valley, CA 92551
      View Details
    • Contact for pricing
      756,340 SF

      Moreno Valley Distribution Warehouse

      Large industrial warehouse with planned improvements and ample trailer parking.
      16850 Heacock St, Moreno Valley, CA 92551
      View Details
    • Contact for pricing
      402,540 SF

      Moreno Valley Distribution Center

      Massive Industrial Space Available Now
      25300 Globe St, Moreno Valley, CA 92551
      View Details
    • Contact for pricing
      426,700 SF

      Moreno Valley Distribution Warehouse

      426,700 SF warehouse with truck court for lease.
      24950 Grove View Rd, Moreno Valley, CA 92551
      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.
    24875 Iris Ave
    Moreno Valley, CA 92551-7207
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.