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

    8990 Garfield St Riverside, CA 92503

    • Medical offices
    • 1,404 SF
    • 0.28 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Last Sale
    Feb 10, 2020
    Value Estimations
    $210,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-4008961
    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

    • Valentine Medical Clinic / Doctor / Women'S Health Clinic
    • Valentine Otuechere / Medical Clinic / Family Practice Physician
    • Jean Cheng, M.D. / Family Practice Physician / Ophthalmologist
    • Valentine Otuechere, M.D., MPH / Family Practice Physician
    • Lynch Gregory K / Dermatologist

    Property Details for 8990 Garfield St

    Year built
    1989
    Construction
    TILT-UP CONCRETE
    Lot size
    0.28 lot acres
    Property size
    1,404 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    193-232-048
    APU
    193232048

    Description

    This exceptional 1,267 square foot medical office building is situated in Riverside, California, at 8990 Garfield Street, Suite 8, zip code 92503. Located in Riverside County, this two-story building offers a single suite and is conveniently located directly across from Parkview Community Hospital, providing excellent visibility and accessibility. The building features an elevator for easy access to both floors. The property is well-maintained and attractively landscaped. The building is currently available for lease, offering competitive rates of $1.50 per square foot per month. The property type is classified as both office and land, and the tenancy is multiple. This presents a unique opportunity for a medical practice or other commercial entity seeking a well-positioned space in a thriving area. The building's convenient location and competitive lease rates make it an attractive investment. The property is part of a diverse tenant mix, ensuring a vibrant and active environment. This is a single-suite building, offering a cohesive and efficient workspace. The property is easily accessible and offers ample parking.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $175,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $240,000
      Market price range: $79.0k - $254k

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverside
    County
    Riverside
    State
    California
    Longitude
    -117.439
    Latitude
    33.9285
    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
    $5,421
    $113,580
    $370,591
    $484,171
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $270,000
      0.18 Acres

      12361 Doherty St

      MEDICAL BUILDING • 0.18 Acres
      12361 Doherty St, Riverside, CA 92503-4842
      View Details
    • Value Estimation
      $355,000
      6,096 SF

      4375 Van Buren Blvd

      MEDICAL BUILDING • 6,096 SF
      4375 Van Buren Blvd, Riverside, CA 92503-2635
      View Details
    • Value Estimation
      $505,000
      13,648 SF

      3841 Wheeler St

      MEDICAL BUILDING • 13,648 SF
      3841 Wheeler St, Riverside, CA 92503
      View Details
    • Value Estimation
      $345,000
      6,603 SF

      9041 Magnolia Ave Ste, Unit 101

      MEDICAL BUILDING • 6,603 SF
      9041 Magnolia Ave Ste, Riverside, CA 92503-3942
      View Details
    • Value Estimation
      $345,000
      5,475 SF

      9041 Magnolia Ave Ste, Unit 305

      MEDICAL BUILDING • 5,475 SF
      9041 Magnolia Ave Ste, Riverside, CA 92503-3957
      View Details
    • Value Estimation
      $615,000
      918 SF

      9041 Magnolia Ave Ste, Unit 1

      MEDICAL BUILDING • 918 SF
      9041 Magnolia Ave Ste, Riverside, CA 92503-3941
      View Details

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    Similar Nearby for Lease

    • $18 SF/Yr
      1,267 SF

      Riverside Medical Office Building

      Prime Riverside location, 1,267 sq ft.
      8990 Garfield St, Riverside, CA 92503
      View Details
    • $1,200 /Mo
      22,416 SF

      Riverside Medical/Office Space Available

      Medical/Office space for lease in Riverside, CA.
      9496 Magnolia Ave, Riverside, CA 92503
      View Details
    • $3 SF/Yr
      6,387 SF

      Riverside Retail/Medical Space Available

      2,800 SF retail or medical space near 91 Freeway.
      9204 Magnolia Ave, Riverside, CA 92503
      View Details
    • $1.20 SF/Yr
      1,928 SF

      Riverside Office Space Available

      Office space featuring private offices, storage, and open area.
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    • $1.49 SF/Yr
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      Riverside Office Space For Lease

      Office space featuring executive and private offices, open bullpen.
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    • $1.85 SF/Yr
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      Riverside Office Space Available

      Office space for rent featuring a private office.
      10020 Indiana Ave, Riverside, CA 92503
      View Details
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    8990 Garfield St
    Riverside, CA 92503
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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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