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    73230 Varner Rd Thousand Palms, CA 92276-4097
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    Property profile & analytics

    73230 Varner Rd, Thousand Palms, CA 92276-4097

    View on Map
    • Warehouses
    • 23,618 SF
    • 6.30 lot acres
    Off-Market
    Last Sale Sep 6, 2024
    Property ID
    US09-6789759
    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
    $6,430,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Extra Space Storage / Storage Facility

    Property Details for 73230 Varner Rd

    Year built
    2007
    Construction
    TILT-UP CONCRETE
    Lot size
    6.30 lot acres
    Zone code
    C1/CP
    Property type
    Warehouses
    APN
    693-230-016
    APU
    693230016

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 6, 2024 — Extra Space Properties 143 LLC Sparkys Storage 18 Ca LP Lease —
    Sep 5, 2024 — Extra Space Properties 143 LLC Sparkys Storage 18 Ca LP Lease —
    May 11, 2018 — Sparkys Storage 18 Ca LP — Grant Deed · related $34M · Jp Morgan Chase Bk
    Apr 14, 2015 $5,700,000 Sparkys Storage 18 Ca LP Netreit INC Grant Deed $16.4M · Wells Fargo Bank NA
    Feb 26, 2013 — Netreit INC Netreit INC Quit Claim Deed · related —
    Feb 26, 2013 $65,000 Netreit City Of Palm Desert Grant Deed —
    Aug 24, 2009 $1,399,000 Netreit Monterey Palms Self Storage Ll Grant Deed $5.2M · La Jolla Bank
    May 22, 2007 — Monterey Palms Self Storage Ll County Of Riverside Quit Claim Deed · related —
    Mar 25, 2004 — Palms Self Storage Monterey — Trustees Deed · related $5.2M · La Jolla Bank
    Jun 17, 2003 — Monterey Palms Self Storage Ll Stevens,andrew E Grant Deed · related —
    — — Netreit INC — Deed Of Trust · related $5.9M · Onewest Bank Fsb

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $6,980,000
      Current use
      AUTO REPAIR, GARAGE
      $10,200,000
      Change: +46% Conversion: Easy
      RETAIL STORES
      $7,815,000
      Change: +12% Conversion: Moderate
      MEDICAL BUILDING
      $6,455,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Thousand Palms
    County
    Riverside
    State
    California
    Longitude
    -116.384
    Latitude
    33.8057
    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
    $84,675
    $1,323,209
    $5,361,192
    $6,684,401
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $545,000
      2.07 Acres

      72450 Varner Rd

      WAREHOUSE, STORAGE
      72450 Varner Rd, Thousand Palms, CA 92276-3429
      View Details
    • Value Estimation
      $530,000
      1.79 Acres

      72450 Varner Rd

      MINI-WAREHOUSE, STORAGE
      72450 Varner Rd, Thousand Palms, CA 92276-3429
      View Details
    • Value Estimation
      $730,000
      4,704 SF

      72022 Varner Rd

      WAREHOUSE, STORAGE
      72022 Varner Rd, Thousand Palms, CA 92276
      View Details
    • Value Estimation
      $1,285,000
      5,321 SF

      72265 Manufacturing Rd

      WAREHOUSE, STORAGE
      72265 Manufacturing Rd, Thousand Palms, CA 92276-6615
      View Details
    • Value Estimation
      $5,030,000
      25,000 SF

      31276 Dunham Way

      WAREHOUSE, STORAGE
      31276 Dunham Way, Thousand Palms, CA 92276-3310
      View Details
    • Value Estimation
      $5,095,000
      23,260 SF

      72500 Varner Rd

      MINI-WAREHOUSE, STORAGE
      72500 Varner Rd, Thousand Palms, CA 92276-3406
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      841,144 SF

      Thousand Palms Land Opportunity

      19.31 acres with easy freeway access in Thousand Palms.
      and Rio Del Sol SE 30Th Ave, Thousand Palms, CA 92276
      View Details
    • Contact for pricing
      0.09 Acres

      Residential Land in Thousand Palms

      Vacant lot suitable for manufactured or single-family home.
      Cody Ave, Thousand Palms, CA 92276
      View Details
    • $335,000
      5.00 Acres

      5 Acres in Thousand Palms

      Flat 5-acre land parcel in Thousand Palms, California.
      Amite Ln, Thousand Palms, CA 92276
      View Details
    • $290,000
      5.20 Acres

      Flat Land in Thousand Palms

      5.20 acres of flat, fenced land ready for development.
      Desert Park Dr, Thousand Palms, CA 92276
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Contractor Yards For Lease

      Two 1-acre contractor yards available for lease.
      27600 Sierra Del Sol, Thousand Palms, CA 92276
      View Details
    • $2 SF/Yr

      Freestanding Building For Lease/Sale

      Freestanding building available for lease or sale.
      72248 Varner Rd, Thousand Palms, CA 92276
      View Details
    • $4,050 /Mo
      6,650 SF

      Thousand Palms Commercial Space

      Commercial space available for rent in Thousand Palms, California.
      72088 Northshore St, Thousand Palms, CA 92276
      View Details
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    Thousand Palms, CA 92276-4097
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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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