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    Property profile & analytics

    56461 Hwy 371 Riverside, CA 92506

    • Grocery and convenience stores
    • 3,960 SF
    • 1.07 lot acres
    OFF-MARKET
    Value Estimations
    $545,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3037889
    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

    • Grocery and convenience stores

    Property Details for 56461 Hwy 371

    Year built
    1958
    Construction
    WOOD
    Lot size
    1.07 lot acres
    Property size
    3,960 SF
    Zone code
    RR
    Property type
    Grocery and convenience stores
    APN
    576-080-006
    APU
    576080006

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $665,000
      Market price range: $665k - $1.19M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $895,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverside
    County
    Riverside
    State
    California
    Longitude
    -116.677
    Latitude
    33.5546
    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
    $4,860
    $270,538
    $162,317
    $432,855
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $7,395,000
      45,936 SF

      2841 Mary St

      GROCERY, SUPERMARKET • 45,936 SF
      2841 Mary St, Riverside, CA 92506-4247
      View Details
    • Value Estimation by Request

      6950 Indiana Ave Ste, Unit 1

      CONVENIENCE STORE
      6950 Indiana Ave Ste, Riverside, CA 92506-4162
      View Details
    • Value Estimation by Request
      0.35 Acres

      3768 Jurupa Ave

      GROCERY, SUPERMARKET • 0.35 Acres
      3768 Jurupa Ave, Riverside, CA 92506-2514
      View Details
    • Value Estimation by Request
      0.13 Acres

      6024 Magnolia Ave

      GROCERY, SUPERMARKET • 0.13 Acres
      6024 Magnolia Ave, Riverside, CA 92506-2518
      View Details
    • Value Estimation by Request
      1,500 SF

      6411 Brockton Ave

      GROCERY, SUPERMARKET • 1,500 SF
      6411 Brockton Ave, Riverside, CA 92506-2035
      View Details
    • Value Estimation
      $2,465,000
      19,620 SF

      6790 Brockton Ave

      GROCERY, SUPERMARKET • 19,620 SF
      6790 Brockton Ave, Riverside, CA 92506-3022
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,400 SF

      Free Standing Retail Building

      Free standing building with open floor plan for sale.
      3711 Central Ave, Riverside, CA 92506
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    • $899,888

      Retail Property For Sale

      Retail property suitable for owner-user or investment.
      3912 Merrill Ave, Riverside, CA 92506
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    • $999,888
      3,060 SF

      Riverside Retail Space - Prime Location

      High-traffic retail space, ideal for owner-user or lease.
      3912 Merrill Ave, Riverside, CA 92506
      View Details
    • $23,000,000
      111,382 SF

      Riverside Central Plaza: Office Portfolio

      Prime Riverside Office, Retail Investment
      3590 Central Ave, Riverside, CA 92506
      View Details
    • New
      $1,999,000
      85,813.00 Acres

      Riverside Land with Freeway Frontage

      Two contiguous parcels totaling over 93,000 sq ft.
      3425 Arlington Ave, Riverside, CA 92506
      View Details
    • $990,000
      51,836.00 Acres

      Riverside Land in Gated Community

      Vacant land in a gated community ready for custom build.
      7490 Via Montecito Ct, Riverside, CA 92506
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Retail Building with Parking

      Freestanding retail building featuring ample parking and major signage.
      6531 Brockton Ave, 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
    • Contact for pricing

      Unique Retail Property with Patio

      Recently built retail property with outdoor patio dining areas.
      3678 Central Ave, Riverside, CA 92506
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Available For Rent

      Retail space available for rent in Riverside, California.
      6725-6753 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
    • $18 SF/Yr
      4,878 SF

      Riverside Office Space for Lease

      Prime Riverside location, multiple tenants.
      3711 Arlington Ave, Riverside, CA 92506
      View Details
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    56461 Hwy 371
    Riverside, CA 92506
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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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