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    Property profile & analytics

    835 Nuevo Rd Perris, CA 92571

    • Grocery and convenience stores
    • 9,120 SF
    • 2.35 lot acres
    OFF-MARKET
    Last Sale
    Mar 27, 2024
    $10,300,000
    Value Estimations
    $10,300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-4599980
    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

    • Grocery and convenience stores

    Property Details for 835 Nuevo Rd

    Year built
    2021
    Construction
    WOOD
    Lot size
    2.35 lot acres
    Property size
    9,120 SF
    Property type
    Grocery and convenience stores
    APN
    310-180-056
    APU
    310180056

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,300,000
      ML approach
      $10,300,000

    • Alternative Use

      Use
      Estimation
      SERVICE STATION (FULL SERVICE)
      $10,820,000
      Current use
      COMMERCIAL (GENERAL)
      $9,335,000
      Change: -14% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $9,025,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Perris
    County
    Riverside
    State
    California
    Longitude
    -117.208
    Latitude
    33.8006
    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
    $24,957
    $738,684
    $1,449,184
    $2,187,868
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      2131 Perris Blvd Ste C7

      CONVENIENCE STORE
      2131 Perris Blvd Ste C7, Perris, CA 92571-2520
      View Details
    • Value Estimation
      $3,555,000
      3,200 SF

      500 San Jacinto Ave

      CONVENIENCE STORE (W/FUEL PUMP) • 3,200 SF
      500 San Jacinto Ave, Perris, CA 92571
      View Details
    • Value Estimation
      $4,795,000
      35,848 SF

      47 Nuevo Rd

      GROCERY, SUPERMARKET • 35,848 SF
      47 Nuevo Rd, Perris, CA 92571
      View Details
    • Value Estimation
      $7,120,000
      54,489 SF

      1688 Perris Blvd

      GROCERY, SUPERMARKET • 54,489 SF
      1688 Perris Blvd, Perris, CA 92571-4709
      View Details
    • Value Estimation
      $6,270,000
      45,642 SF

      2560 Perris Blvd

      GROCERY, SUPERMARKET • 45,642 SF
      2560 Perris Blvd, Perris, CA 92571-3254
      View Details
    • Value Estimation by Request
      5.92 Acres

      2560 Perris Blvd

      GROCERY, SUPERMARKET • 5.92 Acres
      2560 Perris Blvd, Perris, CA 92571-3254
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2.06 Acres

      Perris Retail Land - 2.06 Acres

      Prime Perris location, fully entitled for gas station, car wash, EV charging.
      23 Rider St, Perris, CA 92571
      View Details
    • $3,500,000
      49,223 SF

      Perris Car Wash: Prime Retail Investment

      Established Car Wash, High Growth Potential
      2131- Perris Blvd, Perris, CA 92571
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    • $1,999,000
      5,616 SF

      Perris Industrial Warehouse with Offices

      Industrial warehouse with offices, fenced yard, and included furnishings.
      3456 Webster Ave, Perris, CA 92571
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    • $229,000
      1,575 SF

      New Manufactured Home with Upgrades

      Spacious 4 bed, 3 bath home with low space rent.
      350 E San Jacinto Ave, Perris, CA 92571
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    • $695,000

      Commercial Land on Perris Boulevard

      Commercial land with high visibility and retail potential.
      N Perris Blvd. & Orange Ave, Perris, CA 92571
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    • $1,600,000

      Commercial Land with Industrial Zoning

      Four parcels zoned for general industrial use, one with residence.
      4611 Nevada Ave, Perris, CA 92571
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    Similar Nearby for Lease

    • Contact for pricing
      235,224 SF

      Perris Land with Parking Spaces

      5.4 acres of land with 178 trailer parking spaces.
      114 E Markham St, Perris, CA 92571
      View Details
    • Contact for pricing
      110,529 SF

      Perris Warehouse: 110,529 SF

      Large warehouse, ideal for distribution.
      675 Nance St, Perris, CA 92571
      View Details
    • $0.25 SF/Yr
      7 SF

      Perris Trucking/Storage Yard for Rent

      7-acre trucking/storage yard with freeway access.
      5085 Patterson Ave, Perris, CA 92571
      View Details
    • Contact for pricing
      33,233 SF

      Seq Ramona Expy & Nevada Rd

      Land • 33,233 SF
      0 Seq Ramona Expy & Nevada Rd, Perris, CA 92571
      View Details
    • Contact for pricing
      63,000 SF

      Retail Space Near Major Retailers

      Retail spaces available for pre-leasing near Walmart, Target, Aldi.
      N Perris Blvd, Perris, CA 92571
      View Details
    • Contact for pricing
      89,734 SF

      Perris Retail Land - 2.06 Acres

      Prime Perris retail land, fully entitled.
      23 Rider St, Perris, CA 92571
      View Details
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    Perris, CA 92571
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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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