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

    8616 California Ave Riverside, CA 92504-2860

    • Strip malls
    • 26,520 SF
    • 4.62 lot acres
    OFF-MARKET
    Value Estimations
    $4,675,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2927313
    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

    • Maxi Foods / Grocery & Convenience Store / Specialty Food Shop
    • XCLUSIF CELL & COMPUTER REPAIR # 2 / Computer & Electronic Repair / Tech Support Center
    • Western Union / Bank / Credit Union
    • VERGARA FAJAS COLOMBIANAS LLC / Clothing & Fashion Store
    • Ecogen Recycling Center / Recycling Center / Waste Management Facility

    Property Details for 8616 California Ave

    Year built
    1957
    Construction
    TILT-UP CONCRETE
    Lot size
    4.62 lot acres
    Property size
    26,520 SF
    Zone code
    R106
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    193-261-029
    APU
    193261029

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverside
    County
    Riverside
    State
    California
    Longitude
    -117.435
    Latitude
    33.9349
    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
    $38,634
    $1,281,679
    $2,152,544
    $3,434,223
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      6160 Arlington Ave, Riverside, CA 92504-1944
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    • Value Estimation
      $570,000
      5.55 Acres

      4000 Madison St

      SHOPPING CENTER, STRIP CENTER • 5.55 Acres
      4000 Madison St, Riverside, CA 92504
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    • Value Estimation
      $25,935,000
      5.00 Acres

      5188 Arlington Ave

      SHOPPING CENTER, STRIP CENTER • 5.00 Acres
      5188 Arlington Ave, Riverside, CA 92504-2603
      View Details
    • Value Estimation
      $2,460,000
      15,948 SF

      5119 Jurupa Ave

      SHOPPING CENTER, STRIP CENTER • 15,948 SF
      5119 Jurupa Ave, Riverside, CA 92504
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    • Value Estimation
      $860,000
      5,000 SF

      6160 Arlington Ave

      SHOPPING CENTER, STRIP CENTER • 5,000 SF
      6160 Arlington Ave, Riverside, CA 92504-1944
      View Details
    • Value Estimation
      $1,150,000
      5,988 SF

      5337 Arlington Ave

      SHOPPING CENTER, STRIP CENTER • 5,988 SF
      5337 Arlington Ave, Riverside, CA 92504-2502
      View Details

    Similar Nearby for Sale

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      7,430 SF

      Retail Strip Center For Sale

      Retail strip center available for sale.
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      View Details
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      1.06 Acres

      Riverside Industrial Property

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      Former Bank Building For Sale

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      Riverside Land in Arlington Heights

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      Riverside Agricultural Land For Sale

      12.31 acres of agricultural land in Riverside, California.
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      55,321 SF

      Industrial Land with Shop Space

      1.27 acres with shop space and covered work area.
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    Similar Nearby for Lease

    • Contact for pricing
      98,701 SF

      Arlington Square Retail Center

      Riverside, CA: 98,701 SF Available
      4022 Madison St, Riverside, CA 92504
      View Details
    • Contact for pricing
      5,610 SF

      Prime Woodcrest Retail & Office Space

      High-traffic location, drive-thru pad, office suite.
      16810 Van Buren Blvd, Riverside, CA 92504
      View Details
    • $2 SF/Yr
      14,211 SF

      Retail Property Near 91 Freeway

      Retail property with immediate access to the 91 Freeway.
      3511 Madison St, Riverside, CA 92504
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    • $6,720 /Mo
      5,600 SF

      Riverside Contractor Storage Yard

      Spacious, secure yard with office and storage for contractors.
      5925 Payton Ave, Riverside, CA 92504
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      Riverside Industrial Property: Prime Location

      1-acre lot, 4,800 sq ft building, high ceilings
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    • Contact for pricing
      3,091 SF

      Former Bank Building For Lease

      Former bank building with drive-thru, suitable for various commercial uses.
      16920 Van Buren Blvd, Riverside, CA 92504
      View Details

    Property Visit Statistics

    • Visits by month
      2.1k
    • Visitors by month
      1.2k
    • Avg Time on site
      29 min
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    8616 California Ave
    Riverside, CA 92504-2860
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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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