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Property profile & analytics
OFF-MARKET
Estimated value
$2,305,000
Warehouses
369 3rd St Perris, CA 92570-2261
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-0196390
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1980
Total area
5,300 SF
Lot
0.86 ac (37,461 SF)
Zoning code
M1
APN
310-034-010
UPID
US09-0196390
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
-
Perris Mini Storage Storage Facility
-
Fish Taco Express Food Truck Restaurant Take-out & Catering
-
U-Haul Neighborhood Dealer Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.53M
Blend (final)
Blend
$2.31M
Owner & transaction history
Mai II Properties LLC · 3 yrs held
Mai II Properties LLC
since 2022
Last sale
$2.3M
7 recorded transactions
Zoning & alternative use
M1 · Perris, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.8M
+295.9%
Restaurant
$3.3M
+244.6%
Auto repair, garage
$2.3M
+139.7%
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 Perris submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Perris 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
$2,350,000
ML approach
$2,365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,780,000
Change: +296% · Conversion: Moderate
RESTAURANT
$3,290,000
Change: +245% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,290,000
Change: +140% · Conversion: Easy
MEDICAL BUILDING
$1,450,000
Change: +52% · Conversion: Difficult
Blend value · Realmo final
$2.31M
Range $2.07M – $2.54M · ±10% · vs last sale $2.25M (Oct 6 2022)
Last sale anchor
$2.25M
Oct 6 2022
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
$435 / 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
$25,351
Tax year 2024
Assessed value
$2,233,800
Assessed 2024
Previous assessed
$2,233,800
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$306,000
Assessed improvement
$1,927,800
Applied tax rate
8.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1980
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
1
Units
4
Total area
5,300 SF
Lot
0.86 ac (37,461 SF)
Zoning code
M1
APN
310-034-010
UPID
US09-0196390
Jurisdiction
RIVERSIDE
Zoning & alternative use
M1 · Perris, CA
Zoning M1 · permitted uses
M1 · Perris, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Perris. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$3.8M
RESTAURANT
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$1.5M
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
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
1980
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Units
4
Lot
0.86 ac
Current owner
From public records · entity-resolved
Mai II Properties LLC
Entity
Mailing address
4010 FOOTHILLS BLVD STE #103, ROSEVILLE, CA 95747-7241
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Oct 6, 2022
$2,250,000
Mai II Properties LLC
Advanced Arts Management LLC
Grant Deed
$1,487,000 · Northern California National Bank
Oct 20, 2017
—
Advanced Arts Managements LLC
—
Grant Deed
related
$2,385,000 · Commonwealth Busn Bk
Nov 15, 2013
—
Thomas F Reim
Reim & Marshall Living Trust
Quit Claim Deed
related
—
Apr 9, 2012
—
Reim T F & Marshall C Trust
Reim,thomas F
Quit Claim Deed
related
—
May 5, 2010
$500,000
Advanced Arts Management LLC
Reim,thomas F
Grant Deed
$300,000 · Thomas F Reim
Jun 17, 2009
$856,147
Thomas F Reim
Golden St Foreclosure Svcs
Trustees Deed
related
—
Aug 25, 2006
$900,000
Victor Martinez
Reim,thomas F
Grant Deed
$800,000 · Thomas F Reim
—
—
Advanced Arts Managements LLC
—
Deed Of Trust
related
$305,000 · Citizens Business Bank
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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