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24000 Nuevo Road
About This Property
Riverside County is an incredible investment opportunity featuring proximity/access to three major interstates, the nation's busiest port system, Ontario Airport, UPS & FedEx Ground Hubs and BNSF. The area around Nuevo Road and Webster Avenue in Riverside County/Perris, CA is rapidly developing with major commercial and industrial projects. Nearby, the Perris Gateway Distribution Facility is under construction on 42 acres near I-215, set for completion by August 2025, bringing 855,330 sq ft of warehouse space and 27,000 sq ft of retail including Taco Bell, Starbucks, Shell, and Sonic. Infrastructure improvements are also underway, including an $8 million upgrade to Ramona Expressway and an expansion of the Perris–South Metrolink Station, adding a second platform and a 2.7-mile track upgrade. With these developments, the region continues to grow as a key logistics and business hub in Southern California. With the ideal zoning and location, this property is great for development or investment. Secure this Opportunity Zone land before it's gone!
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 23, 2026 | Sold | ||
| Sold | |||
| Jan 9, 2026 | In contract | - | |
| In contract | |||
| Sep 27, 2025 | Listed by eXp Realty of Greater Los Angeles | $980,000 | |
| Listed by eXp Realty of Greater Los Angeles | |||
| Mar 1, 2025 | Listed | $999,000 | |
| Listed | |||
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OPPORTUNITY ZONE 1/2 mile from the I-215 interchange ALLOWS up to 60 UNITS PER ACRE! WATCH AERIAL VIDEO! This is a timely opportunity for an investor or developer to acquire 5.3 acres in Riverside County land with Mixed-Use Zoning, bordering Perris. This is three contiguous parcels together 305-270-030, 305-270-031, 305-270-032 close to the I-215/CA-74 Freeways and Nuevo Road interchange with NO Mello Roos taxes and is exempt from capital gains taxes if held over 10 years. With water and power next door and sewer in the street in front of the 2nd neighboring parcel, this property is ripe for development. We are just down the street from Perris Plaza with Walmart, ALDI, Stater Bros, In-N-Out, Chick-Fil-A, Ross, Starbucks, Planet Fitness and so many other neighborhood amenities that make this area perfect for future residents and future growth. Permitted uses include residential, parks, restaurants, retail, medical offices, and professional services. With conditional approval, additional uses may include hotels, entertainment venues, convenience stores, mobile home parks, and more. Please see OM for a full list of permitted uses. The population of Perris across the street is increasing, income per capita is increasing, poverty is decreasing, and the number of employed persons is also increasing!
Riverside County is an incredible investment opportunity featuring proximity/access to three major interstates, the nation’s busiest port system, Ontario Airport, UPS & FedEx Ground Hubs and BNSF. The area around Nuevo Road and Webster Avenue in Riverside County/Perris, CA is rapidly developing with major commercial and industrial projects. Nearby, the Perris Gateway Distribution Facility is under construction on 42 acres near I-215, set for completion by August 2025, bringing 855,330 sq ft of warehouse space and 27,000 sq ft of retail including Taco Bell, Starbucks, Shell, and Sonic. Infrastructure improvements are also underway, including an $8 million upgrade to Ramona Expressway and an expansion of the Perris–South Metrolink Station, adding a second platform and a 2.7-mile track upgrade. With these developments, the region continues to grow as a key logistics and business hub in Southern California. With the ideal zoning and location, this property is great for development or investment. Secure this Opportunity Zone land before it’s gone!
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017