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

    2971 Ramsey St Banning, CA 92220-3721

    • Grocery and convenience stores
    • 9,000 SF
    • 0.50 lot acres
    OFF-MARKET
    Last Sale
    Dec 23, 2020
    $2,425,000
    Value Estimations
    $2,585,000
    Show details
    Cap Rate Potential
    4.1%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US09-1256600
    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

    • Smart & Final / Big Box & Wholesale Store
    • Primo Water Refill / Big Box & Wholesale Store
    • Manny's Flamin' Tacos / Restaurant
    • Tacos la ensenada / Restaurant

    Property Details for 2971 Ramsey St

    Year built
    1967
    Construction
    TILT-UP CONCRETE
    Lot size
    0.50 lot acres
    Property size
    9,000 SF
    Zone code
    C2
    Property type
    Grocery and convenience stores
    APN
    538-182-007
    APU
    538182007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,155,000
      ML approach
      $3,200,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,150,000
      6.5%
      $1,985,000
      7%
      $1,845,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,307,000
      Market price range: $587k - $2.31M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,775,000
      Current use
      AUTO REPAIR, GARAGE
      $3,885,000
      Change: +40% Conversion: Difficult
      WAREHOUSE, STORAGE
      $2,660,000
      Change: -4% Conversion: Difficult
      MEDICAL BUILDING
      $2,460,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Banning
    County
    Riverside
    State
    California
    Longitude
    -116.909
    Latitude
    33.9261
    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
    $35,401
    $344,892
    $2,228,536
    $2,573,428
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $6,430,000
      1.07 Acres

      Banning, CA 92220

      GROCERY, SUPERMARKET • 1.07 Acres
      Banning, CA 92220
      View Details
    • Value Estimation by Request
      2,400 SF

      2217 Ramsey St

      GROCERY, SUPERMARKET • 2,400 SF
      2217 Ramsey St, Banning, CA 92220-3707
      View Details
    • Value Estimation
      $1,745,000
      16,080 SF

      1434 Ramsey St

      GROCERY, SUPERMARKET • 16,080 SF
      1434 Ramsey St, Banning, CA 92220-4427
      View Details
    • Value Estimation
      $4,785,000
      22,920 SF

      3453 Ramsey St

      GROCERY, SUPERMARKET • 22,920 SF
      3453 Ramsey St, Banning, CA 92220-3506
      View Details
    • Value Estimation
      $1,685,000
      12,000 SF

      266 San Gorgonio Ave

      GROCERY, SUPERMARKET • 12,000 SF
      266 San Gorgonio Ave, Banning, CA 92220-5520
      View Details
    • Value Estimation by Request
      1.52 Acres

      6350 Ramsey St Ste H

      GROCERY, SUPERMARKET • 1.52 Acres
      6350 Ramsey St Ste H, Banning, CA 92220-3066
      View Details

    Similar Nearby for Sale

    • $488,000
      2,400 SF

      Downtown Banning Commercial Opportunity

      Versatile commercial building in the heart of downtown Banning.
      170 W Ramsey St, Banning, CA 92220
      View Details
    • $220,000
      500 SF

      Banning Commercial Property For Sale

      Office or showroom/store location in downtown Banning.
      1115 W Ramsey St, Banning, CA 92220
      View Details
    • $275,000
      819 SF

      Commercial Property in Downtown Banning

      Eye-catching corner property with revitalization potential in downtown Banning.
      614 W Ramsey St, Banning, CA 92220
      View Details
    • $625,000
      900 SF

      High-Traffic Commercial Property Near I-10

      900 sqft commercial building with C2 zoning near I-10.
      3724 W Ramsey St, Banning, CA 92220
      View Details
    • $1,450,000

      Commercial Property with Freeway Visibility

      2,800 SF commercial property on 1.3 acres in Banning.
      2772 W Ramsey St, Banning, CA 92220
      View Details
    • Contact for pricing
      4,303 SF

      Fully Leased Retail Building

      Two-tenant retail building with development potential on excess land.
      775 E Ramsey St, Banning, CA 92220
      View Details

    Similar Nearby for Lease

    • $4,482 /Mo
      2,988 SF

      Freestanding Building in Banning, CA

      2998 SF suite available for lease in Banning, CA.
      3055 W Ramsey St, Banning, CA 92220
      View Details
    • $168 SF/Yr
      20,000 SF

      Banning Retail Anchor Space

      High-traffic location, excellent visibility
      300 Highland Springs Ave, Banning, CA 92220
      View Details
    • $21 SF/Yr
      9,100 SF

      Thunderbird Plaza: Banning Office Space

      9,100 SF Office Building, Suites Available
      1035 Ramsey St, Banning, CA 92220
      View Details
    • Contact for pricing

      Banning Warehouse Space Available

      Warehouse space available for rent in Banning, California.
      Hathaway St, Banning, CA 92220
      View Details
    • Contact for pricing
      117,265 SF

      Industrial Property For Lease

      Industrial property available for lease, groundbreaking estimated for September 2024.
      4Th St, Banning, CA 92220
      View Details
    • Contact for pricing
      1,000,000 SF

      Banning, CA Industrial/Office Space

      Massive 1M SF Executive Office/Warehouse
      2600 John St, Banning, CA 92220
      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.
    2971 Ramsey St
    Banning, CA 92220-3721
    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!