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Property profile & analytics
OFF-MARKET
Estimated value
$1,820,000
Strip malls
508 Smith Ave Corona, CA 92882-1785
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2686199
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1990
Construction
WOOD
Total area
15,265 SF
Lot
1.89 ac (82,328 SF)
Zoning code
C3
APN
118-050-024
UPID
US09-2686199
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
-
Ochoa's Carniceria, Taqueria y Menudo Restaurant
-
Sunshine foot spa Alternative Medicine Practice Spa & Massage Center
-
Alcoholics Anonymous Social Service Agency Medical Clinic
-
Inland Records Recording Studio
-
Carniceria & Market Primo Specialty Food Shop Butcher
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.82M
Owner & transaction history
Smith Plaza LLC · 8 yrs held
Smith Plaza LLC
since 2018
7 recorded transactions
Zoning & alternative use
C3 · Corona, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
General Community Commercial
General category
COMMERCIAL
Zone area
149.61 ac
Source
Realmo
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 Corona submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Corona 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$119 / 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
$48,968
Tax year 2024
Assessed value
$4,350,521
Assessed 2024
Previous assessed
$4,350,521
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$1,377,665
Assessed improvement
$2,972,856
Applied tax rate
4.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1990
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Units
2
Total area
15,265 SF
Lot
1.89 ac (82,328 SF)
Zoning code
C3
APN
118-050-024
UPID
US09-2686199
Jurisdiction
RIVERSIDE
Zoning & alternative use
C3 · Corona, CAZoning C3 · permitted uses
C3 · Corona, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
General Community Commercial
General category
COMMERCIAL
Zone area
149.61 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1990
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Units
2
Lot
1.89 ac
Current owner
From public records · entity-resolved
Smith Plaza LLC
Entity
Mailing address
3334 E COAST HWY #624, CORONA DEL MAR, CA 92625-2328
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2023
—
Smith Plaza LLC
—
Deed
related
$2,800,000 · Midfirst Bank
Apr 20, 2018
—
Smith Plaza LLC
Abdolsalehi,mohsen & Shahia
Grant Deed
—
Aug 24, 2017
$3,900,000
Mohsen Abdolsalehi
Cedar Fund LLC
Grant Deed
$2,535,000 · Fjm Private Mortgage Fund LLC
Jul 11, 2012
—
Cedar Fund LLC
Nshe Ca Leonardo LLC
Grant Deed
—
Nov 29, 2011
$2,100,000
Nshe Ca Leonardo LLC
508 Smith Ave LLC
Grant Deed
—
Nov 17, 2011
$1,850,000
508 Smith Ave LLC
J & R Wong Family LP-ii LP
Grant Deed
$8,100,000 · J & R Wong Family Ptshp-ii LP
Sep 5, 1997
$1,100,000
J & R Wong Family
American International Bank
Grant Deed
$600,000 · United Pacific Bank
Jan 11, 1996
$116,667
American International Bank
Tai-corona LP
Trustees Deed
related
—
Oct 25, 1995
$1,042,072
American International Bank
Patel,rashik M & Vinali R
Trustees Deed
related
—
—
—
Tai Corona Ltd P
—
Deed Of Trust
related
$150,000 · American International Bank
—
—
Tai Corona Ltd P
—
Deed Of Trust
related
$2,209,481 · American International Bank
—
—
Nshe Ca Leonardo LLC
—
Deed Of Trust
related
$2,091,207 · Cedar Fund LLC
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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