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Property profile & analytics
FOR LEASE
Manufacturing properties
87500 Airport Blvd Thermal, CA 92274
Trust Owned
11-yr Hold
~
Est. High Equity
Property ID
US09-2460139
For Lease
$13,695,000
87500 Airport Blvd, Thermal, CA 92274
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1970
Construction
WOOD
Total area
107,248 SF
Lot
19.92 ac (867,715 SF)
Zoning code
MH
APN
763-340-008
UPID
US09-2460139
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
-
White's Steel, Inc. Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$13.55M
Comparable Approach
Comparable
$16.80M
Blend (final)
Blend
$13.70M
Owner & transaction history
Neumeyer,edwin J Trust · 11 yrs held
Neumeyer,edwin J Trust
since 2014
7 recorded transactions
Zoning & alternative use
MH · Thermal, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Thermal submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Thermal 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%
$14,680,000
6.5%
$13,550,000
7%
$12,580,000
Blend value · Realmo final
$13.70M
Range $12.33M – $15.06M · ±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
$128 / 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
$98,939
Tax year 2024
Assessed value
$7,757,629
Assessed 2024
Previous assessed
$7,757,629
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$939,678
Assessed improvement
$6,817,951
Applied tax rate
58.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Lease
Year built
1970
Construction
WOOD
Heating
NONE
Buildings
3
Stories
1
Units
3
Total area
107,248 SF
Lot
19.92 ac (867,715 SF)
Zoning code
MH
APN
763-340-008
UPID
US09-2460139
Jurisdiction
RIVERSIDE
Zoning & alternative use
MH · Thermal, CA
Zoning MH · permitted uses
MH · Thermal, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Thermal. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1970
Construction
WOOD
Heating
NONE
Stories
1
Buildings
3
Units
3
Lot
19.92 ac
Current owner
From public records · entity-resolved
Neumeyer,edwin J Trust
Trust
Mailing address
PO BOX 846, THERMAL, CA 92274-0846
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2019
—
Neumeyer,edwin J Trust
—
Trustees Deed
related
$2,846,000 · Rabobank
Oct 1, 2014
$2,295,000
Neumeyer,edwin J Trust
Cxa-16 Corp
Grant Deed
$2,065,500 · Rabobank
Mar 7, 2013
$1,850,000
Cxa-16 Corp
First American Title
Trustees Deed
related
—
Jun 11, 1997
$2,748,000
Ca,redidate
Dole,dried Fruit & Nut
Trustees Deed
—
Jun 11, 1997
—
Dried Fruit Dole
Dole,dried Fruit & Nut
Quit Claim Deed
related
—
—
—
California Redi-date LLC
—
Deed Of Trust
related
$14,664,547 · California Redi-date Co
—
—
California Redi-date LLC
—
Deed Of Trust
related
$590,419 · Cal Sungold INC
—
—
California Redi-date LLC
—
Deed Of Trust
related
$3,500,000 · Security Pacific Bank
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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