The Armstrong Building 150-196 E 3rd St 27,980 SF Vacant Retail Building Pomona, CA 91766 $3,470,000 ($124.02/SF)

Prime Street Frontage in Downtown Pomona: Located in the heart of Downtown Pomona in close proximity to the Fox Theater, Glass House, and other popular venues. The property benefits from high visibility and foot traffic, making it ideal for medical, retail, restaurant, or office use.
High Population Density: With 173,404 people living within a 3-mile radius, the property is surrounded by a strong consumer base, providing ample opportunity for consistent patronage and brand visibility.
Arts & Entertainment District: Downtown Pomona is known for its thriving arts scene, monthly Art Walk, and popular music venues, attracting visitors from across Southern California. This cultural hub increases traffic to local businesses and enhances the area’s appeal.
Well-Parked: The property features 8 dedicated on-site parking stalls behind the property, 23 additional stalls across Locust Street (call broker for details), ample street parking, and a city-owned public parking lot across Third Street.
Less Expensive than Leasing / Be Your Own Landlord: As an owner/user with access to SBA financing at 10% down and an estimated 6.10% interest rate, the estimated loan payment is $20,500/month. With current monthly income of $17,700 - one could occupy a portion of the building at a substantially lower cost compared to leasing. Further benefits include potential value appreciation, tax benefits, and income growth.
Value-Add Potential: The property features multiple upside opportunities, including below-market lease rates, flexible lease terms, an un-utilized basement space, and additional income through lease-up of vacant spaces.
Dual Stream Income Generator: This mixed-use asset not only generates income from its residential units but also benefits from its ground-floor commercial space, offering dual revenue streams. The residential units are well-maintained, clean, and stylishly modern, while still capturing the charm and character of the building's unique architecture.