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    Property profile & analytics

    3248 Mary St Riverside, CA 92506-4237

    • Warehouses
    • 3,000 SF
    • 2.64 lot acres
    OFF-MARKET
    Value Estimations
    $800,000
    Show details
    Cap Rate Potential
    5.8%
    Warehouses
    Location Intelligence
    Property ID
    US09-2770833
    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

    • Mary Street Self Storage / Self-Storage Facility / Automobile Storage Facility

    Property Details for 3248 Mary St

    Year built
    2008
    Construction
    WOOD
    Lot size
    2.64 lot acres
    Property size
    3,000 SF
    Zone code
    R1065
    Property type
    Warehouses
    APN
    229-101-060
    APU
    229101060

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $810,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $775,000
      6.5%
      $715,000
      7%
      $665,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $736,000
      Market price range: $71.3k - $737k

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverside
    County
    Riverside
    State
    California
    Longitude
    -117.393
    Latitude
    33.9401
    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
    $56,076
    $1,222,250
    $3,845,841
    $5,068,091
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,035,000
      40,405 SF

      Riverside, CA 92506

      MINI-WAREHOUSE, STORAGE • 40,405 SF
      Riverside, CA 92506
      View Details
    • Value Estimation
      $1,115,000
      960 SF

      3375 Arlington Ave

      WAREHOUSE, STORAGE • 960 SF
      3375 Arlington Ave, Riverside, CA 92506-3209
      View Details
    • Value Estimation
      $310,000
      20,874 SF

      6620 Indiana Ave

      WAREHOUSE, STORAGE • 20,874 SF
      6620 Indiana Ave, Riverside, CA 92506-4327
      View Details
    • Value Estimation
      $1,005,000
      1,710 SF

      3399 Central Ave

      WAREHOUSE, STORAGE • 1,710 SF
      3399 Central Ave, Riverside, CA 92506-1456
      View Details
    • Value Estimation
      $490,000
      1.48 Acres

      Riverside, CA 92506

      WAREHOUSE, STORAGE • 1.48 Acres
      Riverside, CA 92506
      View Details
    • Value Estimation
      $345,000
      0.34 Acres

      3773 Tibbetts St Ste C

      CONSTRUCTION/CONTRACTING SERVICES • 0.34 Acres
      3773 Tibbetts St Ste C, Riverside, CA 92506-2640
      View Details

    Similar Nearby for Sale

    • $2,200,000
      10,900 SF

      Free Standing Office Building

      Free standing office building suitable for various uses.
      6785 Palm Ave, Riverside, CA 92506
      View Details
    • $199,500

      Commercial Land on Alessandro Boulevard

      Four adjacent commercial lots totaling 14,375 sq ft.
      28976 Alessandro Blvd, Moreno Valley, CA 92506
      View Details
    • $975,000
      2,132 SF

      Charming Dental Building For Sale

      Dental building available at close, used for 53 years.
      6919 Magnolia Ave, Riverside, CA 92506
      View Details
    • $7,000,000
      1,514,581.20 Acres

      Riverside Land Parcel for Sale

      34.77 acres in Riverside, CA, ideal for development.
      Bradley St, Riverside, CA 92506
      View Details
    • $519,000
      44,867.00 Acres

      Riverside Vacant Lot with View

      One-acre vacant lot with panoramic sunset views in Riverside.
      7390 Corinthian Way, Riverside, CA 92506
      View Details
    • $1,500,000
      102,366.00 Acres

      Riverside Homesite in Gated Community

      2.35 acre homesite in private, affluent Riverside community.
      7496 Via Montecito, Riverside, CA 92506
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land Pad Available For Lease

      Land pad available for ground lease, near CVS & Stater Bros.
      2841 Mary St | Riverside, Riverside, CA 92506
      View Details
    • $5,720 /Mo
      2,080 SF

      Riverside Retail Space For Lease

      Retail space in a prime location near Target.
      3271 Arlington Ave, Riverside, CA 92506
      View Details
    • $18 SF/Yr
      4,878 SF

      Riverside Office Space for Lease

      Prime Riverside location, multiple tenants.
      3711 Arlington Ave, Riverside, CA 92506
      View Details
    • $2.00 SF/Yr
      13,646 SF

      Riverside Medical Building Office Space

      Modern office suites in Riverside's Magnolia Center district.
      6900 Brockton Ave, Riverside, CA 92506
      View Details
    • Contact for pricing

      Magnolia Avenue Retail Center

      Fully leased retail center on Magnolia Avenue.
      6681 Magnolia Ave, Riverside, CA 92506
      View Details
    • Contact for pricing
      1,150 SF

      Riverside Office/Retail Space For Lease

      Office/retail building for lease with street frontage.
      3787 Arlington Ave, Riverside, CA 92506
      View Details
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    3248 Mary St
    Riverside, CA 92506-4237
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    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
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