Sign Up Successful!
You now have access to more from Realmo!
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

    38429 Innovation Ct Murrieta, CA 92563-2570

    • Manufacturing properties
    • 21,495 SF
    • 1.21 lot acres
    OFF-MARKET
    Value Estimations
    $2,410,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1737799
    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

    • Manufacturing properties

    Property Details for 38429 Innovation Ct

    Year built
    2006
    Construction
    TILT-UP CONCRETE
    Lot size
    1.21 lot acres
    Property size
    21,495 SF
    Property type
    Manufacturing properties
    APN
    957-330-022
    APU
    957330022

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,380,000
      6.5%
      $3,120,000
      7%
      $2,895,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,854,000
      Market price range: $1.33M - $5.28M

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

    Location Insight

    • Map
    • Local Demand
    City
    Murrieta
    County
    Riverside
    State
    California
    Longitude
    -117.134
    Latitude
    33.5602
    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
    $27,359
    $336,515
    $2,170,313
    $2,506,828
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,885,000
      10,924 SF

      38365 Innovation Ct

      MANUFACTURING (LIGHT) • 10,924 SF
      38365 Innovation Ct, Murrieta, CA 92563-2626
      View Details
    • Value Estimation by Request
      2,874 SF

      29975 Technology Dr, Unit B103

      MANUFACTURING (LIGHT) • 2,874 SF
      29975 Technology Dr, Murrieta, CA 92563-2635
      View Details
    • Value Estimation
      $670,000
      4,336 SF

      30818 Wealth St

      MANUFACTURING (LIGHT) • 4,336 SF
      30818 Wealth St, Murrieta, CA 92563-2534
      View Details
    • Value Estimation
      $660,000
      4,423 SF

      30810 Wealth St

      MANUFACTURING (LIGHT) • 4,423 SF
      30810 Wealth St, Murrieta, CA 92563-2534
      View Details
    • Value Estimation
      $1,785,000
      9,075 SF

      38340 Innovation Ct

      MANUFACTURING (LIGHT) • 9,075 SF
      38340 Innovation Ct, Murrieta, CA 92563-2621
      View Details
    • Value Estimation
      $1,050,000
      6,239 SF

      37361 Industry Way, Unit 23

      MANUFACTURING (LIGHT) • 6,239 SF
      37361 Industry Way, Murrieta, CA 92563-3102
      View Details

    Similar Nearby for Sale

    • $2,058,155
      6,508 SF

      Murrieta Industrial Office Space

      6,508 SF Office/Warehouse, $2M+
      37361 Industry Way, Murrieta, CA 92563
      View Details
    • Contact for pricing
      6,681 SF

      High-Image Murrieta Flex Space

      Fully built-out, high-image flex space in Murrieta, California.
      38790 Sky Canyon Dr, Murrieta, CA 92563
      View Details
    • Contact for pricing
      5,828 SF

      French Valley Warehouse Space

      Murrieta Industrial Units Available Now
      37349 Industry Way, Murrieta, CA 92563
      View Details
    • $1,873,250
      6,350 SF

      Industrial Property Near French Valley Airport

      Industrial property for sale, part of master-planned airport center.
      30746 Wealth St, Murrieta, CA 92563
      View Details
    • $1,884,375
      5,625 SF

      New Construction Warehouse Space Available

      New construction warehouse with estimated delivery in July 2025.
      37301 Industry Way, Murrieta, CA 92563
      View Details
    • $1,542,150
      4,470 SF

      New Construction Warehouse Space Available

      New construction warehouse with estimated delivery in July 2025.
      37313 Industry Way, Murrieta, CA 92563
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      6,508 SF

      French Valley Industrial Space For Lease

      Brand new, energy-efficient manufacturing/warehouse.
      37361 Industry Way, Murrieta, CA 92563
      View Details
    • $15 SF/Yr
      122,388 SF

      Murrieta Industrial Space For Lease

      Large warehouse/manufacturing space available.
      30590 Cochise Cir, Murrieta, CA 92563
      View Details
    • Contact for pricing
      93,525 SF

      Industrial Distribution Project For Lease

      Class A industrial distribution project divisible to 20,000 SF units.
      38675 Sky Cyn Dr | Murrieta, Murrieta, CA 92563
      View Details
    • $1.50 SF/Yr
      6,018 SF

      New Construction Warehouse Space Available

      New construction warehouse space for lease, completion estimated July 2025.
      37251 Industry Way, Murrieta, CA 92563
      View Details
    • Contact for pricing
      80,128 SF

      Industrial Distribution Project For Rent

      Proposed Class A industrial distribution project divisible to 20,000 SF units.
      38675 Sky Cyn Dr | Murrieta, Murrieta, CA 92563
      View Details
    • $17 SF/Yr
      6,833 SF

      French Valley Airport Center: Murrieta

      Prime Murrieta Office/Warehouse Space
      37377 Industry Way, Murrieta, CA 92563
      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.
    38429 Innovation Ct
    Murrieta, CA 92563-2570
    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.