Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    6608 Palm Ave Riverside, CA 92506-2344
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6608 Palm Ave Riverside, CA 92506-2344

    View on Map
    • Office buildings
    • 0.28 lot acres
    Off-Market
    Last Sale May 10, 2024
    $805,000
    Property ID
    US09-1674174
    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.
    Value Estimations
    $805,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ryan Garcia Dental / Dental Office
    • Pacific Sunrise Mortgage / Loan Service / Bank
    • Donald Petty - RoundPoint Mortgage Servicing Corporation / Loan Service / Bank
    • RoundPoint Mortgage Servicing Corporation - Riverside / Loan Service / Bank
    • Lisa Jones / Loan Service / Bank

    Property Details for 6608 Palm Ave

    Lot size
    0.28 lot acres
    Zone code
    R1
    Property type
    Office buildings
    APN
    225-201-053
    APU
    225201053

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $805,000
      ML approach
      $805,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverside
    County
    Riverside
    State
    California
    Longitude
    -117.401
    Latitude
    33.9533
    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
    $4,045
    $202,106
    $149,135
    $351,241
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.54 Acres

      6349 Riverside Ave

      OFFICE BUILDING • 0.54 Acres
      6349 Riverside Ave, Riverside, CA 92506-3163
      View Details
    • Value Estimation by Request
      0.22 Acres

      6823 Magnolia Ave

      OFFICE BUILDING • 0.22 Acres
      6823 Magnolia Ave, Riverside, CA 92506-2800
      View Details
    • Value Estimation by Request

      3740 Elizabeth St

      OFFICE BUILDING
      3740 Elizabeth St, Riverside, CA 92506-2507
      View Details
    • Value Estimation by Request
      0.98 Acres

      6820 Indiana Ave

      OFFICE BUILDING • 0.98 Acres
      6820 Indiana Ave, Riverside, CA 92506-7202
      View Details
    • Value Estimation by Request
      1.53 Acres

      3576 Arlington Ave Ste, Unit 106

      OFFICE BUILDING • 1.53 Acres
      3576 Arlington Ave Ste, Riverside, CA 92506-3907
      View Details
    • Value Estimation by Request

      3400 Central Ave Ste, Unit 145

      OFFICE BUILDING
      3400 Central Ave Ste, Riverside, CA 92506-2161
      View Details

    Similar Nearby for Sale

    • $2,200,000
      10,900 SF

      Free Standing Office Building

      Free standing office building suitable for various uses.
      6785 Palm Ave, Riverside, CA 92506
      View Details
    • $2,750,000
      7,036 SF

      Riverside Office Building For Sale

      Fully occupied 8-unit office building on Central Avenue.
      3333 Central Ave, Riverside, CA 92506
      View Details
    • Contact for pricing
      111,382 SF

      Riverside Commercial Hub For Sale

      Located in Riverside's Magnolia Center neighborhood, near major amenities.
      3590 Central Ave, Riverside, CA 92506
      View Details
    • $975,000

      Charming Dental Building For Sale

      Dental building available at close, used for 53 years.
      6919 Magnolia Ave, Riverside, CA 92506
      View Details
    • Contact for pricing
      1,200 SF

      Magnolia Avenue Retail/Office Opportunity

      Retail or office space with high visibility and great access.
      6682 Magnolia Ave, Riverside, CA 92506
      View Details

    Similar Nearby for Lease

    • $1.85 SF/Yr
      10,887 SF

      Two-Story Office Building For Rent

      25,720 SF office building with freeway visibility and access.
      6529 Riverside Ave, Riverside, CA 92506
      View Details
    • Contact for pricing

      Leased Office Building in Riverside

      Fully leased office building in Riverside, CA. No current availability.
      3579 Arlington Ave, Riverside, CA 92506
      View Details
    • Contact for pricing

      Riverside Office Building - Fully Leased

      Office building in Riverside, CA, currently 100% leased.
      4010 Merrill Ave, Riverside, CA 92506
      View Details
    • $1.95 SF/Yr

      Riverside Medical Office Space

      Move-in ready orthodontics office in downtown Riverside.
      3731 Tibbetts St, Riverside, CA 92506
      View Details
    • $1.95 SF/Yr
      19,776 SF

      Riverside Office Space For Rent

      Office space with onsite management, security, and freeway access.
      6370 Magnolia Ave, Riverside, CA 92506
      View Details
    • $2 SF/Yr

      Riverside Medical Building Office Space

      Modern office suites in Riverside's Magnolia Center district.
      6900 Brockton Ave, Riverside, CA 92506
      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.
    6608 Palm Ave
    Riverside, CA 92506-2344
    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.
    Sign Up Successful!
    You now have access to more from Realmo!