87200 Airport BlvdThermal, CA 92274

Property Details for 87200 Airport Blvd

Year built

1958

Construction

TILT-UP CONCRETE

Lot size

3.19 AC

Property size (Sq ft)

2,176 SF

Property type

Retail properties

Property subtype

Retail space

APN

763-350-024

APU

763350024

Description

This exceptional 22.63-acre parcel boasts prime commercial and industrial C1-CP & M-SC zoning in Thermal, California. Strategically located at the intersection of Highway 111 and Airport Boulevard, this property benefits from exceptional visibility and accessibility, with approximately 13,800 cars passing daily on Highway 111. Recent infrastructure improvements include a new overpass at Airport Boulevard and Highway 111, and a new interchange at Airport Boulevard and Expressway 86, further enhancing connectivity. Utilities are readily available on-site. The property's strategic location offers proximity to key amenities, including the prestigious Thermal Club race track (three miles away) and the acclaimed Desert International Horse Park. A significant advantage is the inclusion of an existing post office lease, providing immediate income potential until June 30, 2027. The property's APN is 763-350-023, 024, and is situated at 87200 Airport Blvd, Thermal, CA 92274. This presents a rare opportunity to acquire a substantial land holding in a rapidly developing area with excellent access to major transportation arteries. The asking price is $2,957,288.

• CAP approach

  CAP return

  Valuation

  6%

  $879,138

  6.5%

  $811,512

  7%

  $753,546

• Comparable approach

  Method

  Valuation

  Relative Method

  $961,933

  Geo Method

  $1,930,034

• Alternative Use

  Use

  Valuation

  Residential

  $684,540

  Hospitality

  $627,035

  Educational

  $521,686

  Medical

  $539,628

  Retail

  $811,512

Location Insight

City

Thermal

County

Riverside

State

California

Latitude

33.6428

Longitude

-116.143

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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