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Property profile & analytics
OFF-MARKET
Estimated value
$2,455,000
Warehouses
68 Commerce Dr Perris, CA 92571-3113
Individually Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1137919
Property summary
AI-generated overview
This exceptional 8,796-square-foot warehouse, situated in the desirable Perris Business Park, represents a rare opportunity for businesses seeking a brand-new, single-tenant facility. Completed in 2023, this building boasts a spacious layout with an impressive 18-foot ceiling height, providing ample room for storage and operations. The property includes two convenient loading docks for efficient shipping and receiving, along with ample parking for 22 vehicles. The 0.6-acre lot offers excellent maneuverability and potential for future expansion. Power is robust, featuring 400 amps of 3-phase electricity, ensuring sufficient capacity for demanding operations. Located at 68 Commerce Dr, Perris, CA 92571, this warehouse is zoned PVCC - Specific Plan within Riverside County. Groundbreaking commenced in September 2022, with estimated delivery in September 2023. The entire space is currently vacant and ready for immediate occupancy. This is an ideal location for businesses seeking a modern, efficient, and well-equipped warehouse in a thriving industrial area.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2023
Construction
TILT-UP CONCRETE
Total area
8,796 SF
Lot
0.6 ac (26,136 SF)
APN
303-291-008
UPID
US09-1137919
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.67M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.53M
Blend (final)
Blend
$2.46M
Owner & transaction history
Kb Sycamore Hills III · 2 yrs held
Kb Sycamore Hills III
since 2023
Last sale
$2.3M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.8M
+139.7%
Medical building
$2.4M
+51.7%
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
$2,485,000
ML approach
$2,670,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,585,000
Current use
AUTO REPAIR, GARAGE
$3,800,000
Change: +140% · Conversion: Easy
MEDICAL BUILDING
$2,405,000
Change: +52% · Conversion: Difficult
Blend value · Realmo final
$2.46M
Range $2.21M – $2.70M · ±10% · vs last sale $2.29M (Dec 14 2023)
Last sale anchor
$2.29M
Dec 14 2023
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
$279 / 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
$27,724
Tax year 2024
Assessed value
$2,286,960
Assessed 2024
Previous assessed
$2,286,960
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$679,000
Assessed improvement
$1,607,960
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2023
Construction
TILT-UP CONCRETE
Stories
1
Total area
8,796 SF
Lot
0.6 ac (26,136 SF)
APN
303-291-008
UPID
US09-1137919
Jurisdiction
RIVERSIDE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$3.8M
MEDICAL BUILDING
Est. value
$2.4M
WAREHOUSE, STORAGE Current
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
2023
Construction
TILT-UP CONCRETE
Stories
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
Kb Sycamore Hills III
Individual
Free & Clear · 2 yrs held
Mailing address
1411 RAVENSWOOD LN, RIVERSIDE, CA 92506-5541
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2024
—
Kb Sycamore Hills III LLC
—
Deed
related
$1,131,000 · Citizens Business Bank
Dec 14, 2023
$2,287,000
Kb Sycamore Hills III
Ms Perris LLC
Grant Deed
—
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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