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Value-Add Investment; 7.5% Pro Forma Cap Rate 10759 Magnolia Ave 11,306 SF 100% Leased Retail Building Riverside, CA 92505 $3,350,000 ($296.30/SF) 5.60% Cap Rate
Investment Highlights
- Large Pylon Sign: Visible to Daily Traffic (VPD indicates over 40,000 vehicles)
- Strategic Hard Corner Location Positioned for Strong Commercial Exposure
- Current Rental Rates are Below Market Value
- Convenient Access to 91, 15, 215 Freeways; Easy Ingress/Egress
- Excellent Tenant Mix with 100% Occupied Retail Center; Directly Across from Kaiser Medical Center
- Tremendous Value-Add Investment; 7.5% Pro Forma Cap Rate
Executive Summary
NAI Capital is pleased to present the opportunity to purchase a Retail Center in the Riverside County. 10759 Magnolia Avenue, Riverside, CA 92505 features an approximately +/-11,306 SQFT Retail Center situated on +/- 33,976 SQFT of Improved Land. The Retail Center consist of the following: Excellent Tenant Mix with 100% Occupancy, Current Rental Rates are Below Market Value which translates to Extreme Upside Potential, and Abundant Parking with Convenient Ingress/Egress.
The property is strategically located along the corner of Magnolia Avenue which benefits from visibility, pro commercial related businesses and convenient access to 91, 15, and 215 freeways. The VPD indicates over 40,000 vehicles traveling daily through Magnolia Avenue making this a great Retail Center for commercial traffic. The tremendous upside of this property would be well suited for an Investor who wants to take advantage of the Retail Center’s upside potential. Property tours are available by appointment.
The property is strategically located along the corner of Magnolia Avenue which benefits from visibility, pro commercial related businesses and convenient access to 91, 15, and 215 freeways. The VPD indicates over 40,000 vehicles traveling daily through Magnolia Avenue making this a great Retail Center for commercial traffic. The tremendous upside of this property would be well suited for an Investor who wants to take advantage of the Retail Center’s upside potential. Property tours are available by appointment.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
11,306 SF
Building Class
C
Year Built/Renovated
1994/2019
Price
$3,350,000
Price Per SF
$296.30
Cap Rate
5.60%
NOI
$187,600
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.33
Lot Size
0.78 AC
Zoning
R106 - Commercial
Parking
47 Spaces (4.16 Spaces per 1,000 SF Leased)
Frontage
118’ on Magnolia
Amenities
- Courtyard
- Pylon Sign
- Restaurant
- Signage
Moderately walkable
70/100
Exceptionally drivable
90/100
Good public transit
70/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 142-292-008 | Improvements Assessment | $1,425,429 |
| Land Assessment | $850,253 | Total Assessment | $2,275,682 |
Property Taxes
Parcel Number
142-292-008
Land Assessment
$850,253
Improvements Assessment
$1,425,429
Total Assessment
$2,275,682
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Matterport 3D Exterior
Matterport 3D Tour
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Value-Add Investment; 7.5% Pro Forma Cap Rate | 10759 Magnolia Ave