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Property profile & analytics
OFF-MARKET
Estimated value
$915,000
Commercial land
24935 Hospitality Pl Murrieta, CA 92562-1301
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US10-3211915
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1980
Total area
1,344 SF
Lot
1.68 ac (73,180 SF)
Zoning code
RR
APN
949-210-015
UPID
US10-3211915
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$915k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$825k
Blend (final)
Blend
$915k
Owner & transaction history
Ketan N Patel · 1 yrs held
Ketan N Patel
since 2024
Last sale
$915,000
7 recorded transactions
Zoning & alternative use
RR · Murrieta, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Murrieta submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Murrieta submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$915,000
ML approach
$915,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,375,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,155,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$915k
Range $824k – $1.01M · ±10% · vs last sale $915k (Aug 27 2024)
Last sale anchor
$915k
Aug 27 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$681 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$10,507
Tax year 2024
Assessed value
$951,966
Assessed 2024
Previous assessed
$951,966
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$910,350
Assessed improvement
$41,616
Applied tax rate
24.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1980
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
1,344 SF
Lot
1.68 ac (73,180 SF)
Zoning code
RR
APN
949-210-015
UPID
US10-3211915
Jurisdiction
RIVERSIDE
Zoning & alternative use
RR · Murrieta, CA
Zoning RR · permitted uses
RR · Murrieta, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Murrieta. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1.68 ac
Current owner
From public records · entity-resolved
Ketan N Patel
Individual
Free & Clear · 1 yrs held
Mailing address
801 N LANDA WAY, BREA, CA 92821-7425
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 27, 2024
—
Ketan N Patel
Ketan N Patel
Intrafamily Transfer
related
—
Dec 9, 2021
$915,000
Ketan N Patel
Long Beach Trading Company INC
Grant Deed
—
Nov 30, 2021
—
Long Beach Trading Company INC
Amorjnm LLC
Intrafamily Transfer
related
—
Apr 15, 2021
—
Amorjnm LLC
Gregory K Smith
Intrafamily Transfer
related
—
Apr 1, 2008
—
Legacy Financial Group
Mears Realty
Quit Claim Deed
related
—
Feb 20, 2007
—
Realty Mears
Smith,gregory K & Janey K
Grant Deed
related
—
Jan 18, 2007
$750,000
Gregory K Smith
Nelson Family Trust
Grant Deed
$200,000 · Foothill Financial
Feb 15, 1996
—
Fred C Etal Nelson
Nelson,fred C Etux
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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