3375 Iowa Ave | Riverside, CA 92507
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3375 Iowa Ave
Riverside, CA 92507
University Heights at UC Riverside · Retail Property For Sale
Property Facts
Property Type
Retail
Property Subtype
Building Size
27,500 SF
Building Class
C
Year Built/Renovated
1986/2017
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.30
Lot Size
2.12 AC
Zoning
CR
Parking
140 Spaces (3.93 Spaces per 1,000 SF Leased)
Frontage
500’ on Iowa Ave
Amenities
- Freeway Visibility
- Pylon Sign
- Restaurant
- Signage
About 3375 IOWA AVE , RIVERSIDE, CA 92507
Value-Add Opportunity at UC Riverside - Current Cap Rate of 5.41% With Substantial Upside to 7.34% Pro Forma Cap Rate by Converting Gross Leases to NNN - Low Price Per Square Foot - 43% of Tenant Leases are Below Market & Month-to-Month or Expire in One Year Providing an Opportunity to Quickly Realize Upside - Owner has Made Substantial Capital Improvements to the Shopping Center Including New Paint, Parking Lot Improvements, and Tenant Sign Improvements
Property Taxes
| Parcel Number | 250-150-009 | Improvements Assessment | $6,135,353 |
| Land Assessment | $2,007,932 | Total Assessment | $8,143,285 |
Property Taxes
Parcel Number
250-150-009
Land Assessment
$2,007,932
Improvements Assessment
$6,135,353
Total Assessment
$8,143,285
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