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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    698 Parkridge Ave Norco, CA 92860-3124

    • Manufacturing properties
    • 7,842 SF
    • 0.50 lot acres
    OFF-MARKET
    Last Sale
    Jan 06, 2021
    $1,734,000
    Value Estimations
    $2,085,000
    Show details
    Cap Rate Potential
    3%
    Manufacturing properties
    Location Intelligence
    Property ID
    US09-2285511
    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

    • Pacific Gear Technology / Machine Shop

    Property Details for 698 Parkridge Ave

    Year built
    2007
    Construction
    TILT-UP CONCRETE
    Lot size
    0.50 lot acres
    Property size
    7,842 SF
    Zone code
    A140M
    Property type
    Manufacturing properties
    APN
    119-070-022
    APU
    119070022

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,130,000
      ML approach
      $2,070,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,960,000
      Market price range: $1.23M - $2.56M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,750,000
      Current use
      AUTO REPAIR, GARAGE
      $3,385,000
      Change: +94% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,315,000
      Change: +32% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Norco
    County
    Riverside
    State
    California
    Longitude
    -117.568
    Latitude
    33.8977
    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
    $20,504
    $477,543
    $1,362,333
    $1,839,876
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $270,000
      0.59 Acres

      1921 1st St

      MANUFACTURING (LIGHT) • 0.59 Acres
      1921 1st St, Norco, CA 92860-3140
      View Details
    • Value Estimation
      $700,000
      13,725 SF

      2058 2nd St

      MANUFACTURING (LIGHT) • 13,725 SF
      2058 2nd St, Norco, CA 92860-2804
      View Details
    • Value Estimation
      $1,590,000
      154,581 SF

      3000 Horseless Carriage Dr

      MANUFACTURING (LIGHT) • 154,581 SF
      3000 Horseless Carriage Dr, Norco, CA 92860-3640
      View Details
    • Value Estimation by Request
      9,120 SF

      741 12th Parkridge Ave

      MANUFACTURING (LIGHT) • 9,120 SF
      741 12th Parkridge Ave, Norco, CA 92860-3149
      View Details
    • Value Estimation by Request
      71,662 SF

      620 Parkridge Ave

      MANUFACTURING (LIGHT) • 71,662 SF
      620 Parkridge Ave, Norco, CA 92860-3124
      View Details
    • Value Estimation
      $575,000
      7,295 SF

      1870 Town And Country Dr

      MANUFACTURING (LIGHT) • 7,295 SF
      1870 Town And Country Dr, Norco, CA 92860-3626
      View Details

    Similar Nearby for Sale

    • $28,000,000
      50,000 SF

      Norco Industrial Development Opportunity

      Prime 4.3-acre site, build-to-suit option.
      1044 Parkridge Ave, Norco, CA 92860
      View Details
    • Contact for pricing
      80,961 SF

      Norco Warehouse with ESFR Sprinklers

      80,961 sq ft warehouse with below market lease rate.
      3380 Horseless Carriage Rd, Norco, CA 92860
      View Details
    • $2,563,520
      8,011 SF

      Norco Freestanding Building For Sale

      Freestanding building with office, yard, and expandable power.
      694 Parkridge Ave, Norco, CA 92860
      View Details
    • Contact for pricing
      87,930 SF

      Industrial Space in Norco Business Park

      87,930 sq ft industrial space with below market lease.
      3350 Horseless Carriage Rd, Norco, CA 92860
      View Details
    • $2,700,000

      Prime Commercial Land Opportunity

      1.44 acres of vacant land in a visible area.
      1110 Mountain Ave, Norco, CA 92860
      View Details
    • $650,000

      Land For Sale in Norco

      Land available for purchase in Norco, California.
      California Ave, Norco, CA 92860
      View Details

    Similar Nearby for Lease

    • $1.27 SF/Yr
      159,517 SF

      Cap Rock Palomino: Prime Norco Space

      Modern Industrial Building, 159,517 SF Available
      1740 Mountain Ave, Norco, CA 92860
      View Details
    • $1.70 SF/Yr
      1,802 SF

      Office/Showroom Space Available

      Multi-tenant building with office/showroom space, available December 1, 2025.
      1780 Town And Country Dr, Norco, CA 92860
      View Details
    • $1.25 SF/Yr
      64,800 SF

      Norco Warehouse with Secured Truck

      64,800 SF warehouse with secured concrete truck court.
      1800 Mountain Ave, Norco, CA 92860
      View Details
    • $0.99 SF/Yr
      72,245 SF

      Norco Warehouse Space Available

      72,245 sqft warehouse space for lease in Norco.
      1860 Mountain Ave, Norco, CA 92860
      View Details
    • Contact for pricing

      Industrial Property in Norco, CA

      Industrial property located in Norco, California, currently 100% leased.
      1870 Town And Country Dr, Norco, CA 92860
      View Details
    • $1.50 SF/Yr
      1,531 SF

      Norco Flex Space Available

      Multi-tenant building with office space and ground level loading.
      1600-1614 Industrial Ave, Norco, CA 92860
      View Details
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    Norco, CA 92860-3124
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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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