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Property profile & analytics
FOR LEASE
Strip malls
705 N Main St Corona, CA 92880
Trust Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2499539
For Lease
$21,800,000
705 N Main St, Corona, CA 92880
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1973
Construction
TILT-UP CONCRETE
Total area
94,500 SF
Lot
9.6 ac (418,176 SF)
Zoning code
MU
APN
119-270-013
UPID
US09-2499539
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
-
Chuze Fitness Gym & Fitness Center
-
Big Air Trampoline Park Arcade & Gaming Center Family Recreation Center
-
Wendy's Restaurant Take-out & Catering
-
Wholesale Nutrition Center (Bike/Boat/Book/etc) Store Pharmacy
-
ALDI Specialty Food Shop Supermarket
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$24.34M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$21.80M
Owner & transaction history
Ready Capital Mtg Trust 2019-6 Tr · 6 yrs held
Ready Capital Mtg Trust 2019-6 Tr
since 2020
5 recorded transactions
Zoning & alternative use
MU · Corona, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
Mixed Use
General category
MIXED_USE
Zone area
93.76 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$26,365,000
6.5%
$24,335,000
7%
$22,600,000
Blend value · Realmo final
$21.80M
Range $19.62M – $23.98M · ±10%
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
$231 / 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
$240,171
Tax year 2024
Assessed value
$20,688,604
Assessed 2024
Previous assessed
$20,688,604
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$4,995,070
Assessed improvement
$15,693,534
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
For Lease
Year built
1973
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
1
Units
3
Total area
94,500 SF
Lot
9.6 ac (418,176 SF)
Zoning code
MU
APN
119-270-013
UPID
US09-2499539
Jurisdiction
RIVERSIDE
Zoning & alternative use
MU · Corona, CAZoning MU · permitted uses
MU · Corona, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
Mixed Use
General category
MIXED_USE
Zone area
93.76 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1973
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
9.6 ac
Current owner
From public records · entity-resolved
Ready Capital Mtg Trust 2019-6 Tr
Trust
Mailing address
567 SAN NICOLAS DR STE #270, NEWPORT BEACH, CA 92660-6514
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 16, 2020
—
Ready Capital Mtg Trust 2019-6 Tr
Readycap Commercial LLC
Quit Claim Deed
related
—
Jul 2, 2019
—
Waypoint Corona LLC
—
Grant Deed
related
$11,700,000 · Readycap Com'l
Jun 9, 2017
—
Waypoint Corona LLC
—
Trustees Deed
related
$8,350,000 · Farmers & Merchants Bk/lng Bch
May 1, 2017
$600,000
Waypoint Property Group LLC
Smith-phillips Corona Ptshp LP
Grant Deed
—
Sep 27, 1993
$110,504
Ryland Mortgage Co
Smith,george R
Trustees Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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