3747 Central Ave
Riverside, CA 92506
Jewel Box Restaurant Center | 3-Tenants · Retail Property For Sale

Faris Lee Investments is excited to offer for sale the fee simple interest (land & building) in a 5,600 SF, 3-tenant, net leased shopping center in Riverside, CA. The site is currently under construction with a projected grand opening in May/June of 2017, and is 100% preleased to three (3) national/regional tenants, Jamba Juice (7 year lease), Jimmy John' s (10 year lease) and Tokyo Joe' s (10 year lease). Additionally, all of the tenants feature 10% rental increases at the sixth lease year of their lease and at the beginning of each option to extend, creating security and stability for a new investor by providing steady NOI growth and hedging against inflation. The subject property is strategically located near one of Riverside' s busiest intersections (Central and Magnolia Ave) with over 53,000 cars per day. This site draws from Riverside' s most affluent neighborhoods with average household incomes north of $100,000 including the esteemed Victoria Country Club. The subject property is near the highly successful Riverside Plaza which was recently redeveloped with anchors including Trader Joes, Regal Theatres, Nordstrom Rack, Panera Bread, and CPK. This close proximity generates a high daytime population that creates increased foot traffic for the subject property. There are more than 284,900 permanent residents within 5 miles as well as a daytime population of over 110,000 employees.