Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$184,450,000
Distribution centers
2677 Alessandro Blvd Riverside, CA 92508-2340
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-4137649
Property summary
AI-generated overview
This exceptional Class A industrial property, totaling 709,081 square feet, is situated on 39.33 acres in Riverside, CA, within the Moreno Valley/Perris submarket of the Inland Empire. Built in 2020, this single-tenant building boasts a 36-foot ceiling height, 109 loading docks with 109 dock-high doors, and ample parking with 384 spaces and 2 drive-ins. The property features 4000A, 480/277V power, and is zoned W-2. Its strategic location offers convenient access to major freeways, including the 215, 60, and 91, placing it near the intersection of Alessandro Boulevard and Old 215 Frontage Road. The property's proximity to March Air Reserve Base further enhances its desirability. With a building floor area ratio (FAR) of 0.41, this property presents a significant opportunity for distribution and warehouse operations. The property's APN is 297-100-094 & 297-100-095. Taxes are $3.21 per square foot. The entire building is currently vacant.
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2020
Construction
TILT-UP CONCRETE
Total area
709,081 SF
Lot
33.17 ac (1,444,885 SF)
APN
297-100-095
UPID
US09-4137649
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
Current use
Occupant on record · Public records
-
Vitality Testosterone Replacement Therapy Clinic Physician
-
Unis Alessandro Big Box & Wholesale Store Building Supply
-
MTH1 Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$169.57M
Comparable Approach
Comparable
$169.75M
Blend (final)
Blend
$184.45M
Owner & transaction history
Freeway Apg LLC · 4 yrs held
Freeway Apg LLC
since 2021
Last sale
$199.3M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$251.9M
+27.1%
Medical building
$207.0M
+4.4%
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 Riverside submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Riverside 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$183,695,000
6.5%
$169,565,000
7%
$157,450,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$198,200,000
Current use
RETAIL STORES
$251,880,000
Change: +27% · Conversion: Moderate
MEDICAL BUILDING
$207,010,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$184.45M
Range $166.01M – $202.90M · ±10% · vs last sale $199.25M (Dec 15 2021)
Last sale anchor
$199.25M
Dec 15 2021
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
$260 / 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
$2,246,053
Tax year 2024
Assessed value
$200,620,332
Assessed 2024
Previous assessed
$200,620,332
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$31,565,736
Assessed improvement
$169,054,596
Applied tax rate
80.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2020
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
2
Total area
709,081 SF
Lot
33.17 ac (1,444,885 SF)
APN
297-100-095
UPID
US09-4137649
Jurisdiction
RIVERSIDE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$198.2M
RETAIL STORES
Est. value
$251.9M
MEDICAL BUILDING
Est. value
$207.0M
WAREHOUSE, STORAGE Current
RETAIL STORES
MEDICAL BUILDING
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
2020
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
2
Lot
33.17 ac
Current owner
From public records · entity-resolved
Freeway Apg LLC
Entity
Free & Clear · 4 yrs held
Mailing address
100 BAYVIEW CIR STE #310, NEWPORT BEACH, CA 92660-8910
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 4, 2022
—
Freeway Apg LLC
—
Deed
related
$112,000,000 · Tiaa Fsb Holdings INC
Dec 15, 2021
$199,250,000
Freeway Apg LLC
Pr Jit Chi Freeway Bc Venture LLC
Grant Deed
—
Jul 8, 2019
—
Pr Lll Of Chi Freeway Bc LLC
Pr Lll Of Chi Freeway Bc LLC
Quit Claim Deed
—
Apr 5, 2019
$30,500,000
Pr III Chi Freeway Bc LLC
Proficiency 215 LLC
Grant Deed
$44,475,000 · Comerica Bank
May 29, 2014
$4,765,000
Proficiency 215 LLC
Lnr Riverside Land LLC
Grant Deed
—
Jun 25, 2002
—
Lnr Rv Land
March,joint P
Grant 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2677 Alessandro Blvd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
