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    Property profile & analytics

    3541 Hamner Ave Norco, CA 92860-1379

    • Retail space
    • 950 SF
    • 0.70 lot acres
    OFF-MARKET
    Value Estimations
    $290,000
    Show details
    Cap Rate Potential
    4.6%
    Retail space
    Location Intelligence
    Property ID
    US09-1618335
    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

    • Freddy's Frozen Custard & Steakburgers / Fast Food Restaurant

    Property Details for 3541 Hamner Ave

    Year built
    2023
    Construction
    WOOD
    Lot size
    0.70 lot acres
    Property size
    950 SF
    Property type
    Retail space
    APN
    131-230-031
    APU
    131230031

    Description

    This exceptional investment opportunity presents a brand-new, 2,446 square foot Freddy's Frozen Custard & Steakburgers restaurant in Norco, California. Located at 3541 Hamner Ave, 92860, this Class A property sits on a 21,344 square foot lot and boasts a 20-year absolute NNN lease commencing March 30, 2024, and expiring March 30, 2044. The lease includes six 5-year renewal options with a 10% rent increase every five years, providing a built-in hedge against inflation. The property features 100% occupancy and a strong net operating income (NOI) of $180,000, resulting in a 5.00% cap rate. The asking price is $3,600,000, translating to $1,471.79 per square foot. The tenant, a franchisee, operates multiple locations and provides a strong financial guarantee. The property benefits from a high-traffic location on Hamner Avenue (37,000+ vehicles per day), strong demographics (290,000 residents within a 5-mile radius), and projected annual sales exceeding $3 million. This fee-simple ownership offers a secure, passive income stream with minimal landlord responsibilities. The property's APN is 131-230-027. This is a rare opportunity to acquire a high-performing, established QSR in a desirable location with significant long-term growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $225,000
      6.5%
      $210,000
      7%
      $195,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $251,000
      Market price range: $53.8k - $251k

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

    Location Insight

    • Map
    • Local Demand
    City
    Norco
    County
    Riverside
    State
    California
    Longitude
    -117.557
    Latitude
    33.934
    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
    $14,430
    $1,137,937
    $151,500
    $1,289,437
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $385,000
      1.56 Acres

      1700 Hamner Ave

      RETAIL STORES (PERSONAL SERVICES) • 1.56 Acres
      1700 Hamner Ave, Norco, CA 92860-2956
      View Details
    • Value Estimation
      $250,000
      676 SF

      405 6th St

      RETAIL STORES (PERSONAL SERVICES) • 676 SF
      405 6th St, Norco, CA 92860-1759
      View Details
    • Value Estimation
      $450,000
      7,687 SF

      1180 Hamner Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,687 SF
      1180 Hamner Ave, Norco, CA 92860-3137
      View Details
    • Value Estimation
      $805,000
      13,760 SF

      1845 2nd St

      RETAIL STORES (PERSONAL SERVICES) • 13,760 SF
      1845 2nd St, Norco, CA 92860
      View Details
    • Value Estimation by Request
      1,424 SF

      1212 6Th St

      Individual retail properties • 1,424 SF
      1212 6Th St, Norco, CA 92860
      View Details
    • Value Estimation
      $420,000
      2,178 SF

      2075 Riv Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,178 SF
      2075 Riv Rd, Norco, CA 92860-3308
      View Details

    Similar Nearby for Sale

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      Norco Commercial Building - Great Location!

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    Similar Nearby for Lease

    • $3 SF/Yr
      2,135 SF

      Retail Space Available For Rent

      Retail space available for lease in Norco, California.
      1411 Hamner Ave, Norco, CA 92860
      View Details
    • $1.70 SF/Yr
      1,802 SF

      Office/Showroom Space Available

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      View Details
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      Norco Retail Space: Jr Anchor Available

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      View Details
    • $0.18 SF/Yr
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      Prime Commercial Space in Norco

      Versatile commercial property for lease in a high-traffic location.
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    • Contact for pricing

      Industrial Property in Norco, CA

      Industrial property located in Norco, California, currently 100% leased.
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      View Details
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      Norco Flex Space Available

      Multi-tenant building with office space and ground level loading.
      1600-1614 Industrial Ave, Norco, CA 92860
      View Details
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    Norco, CA 92860-1379
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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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