3767 Iowa Ave 4,978 SF Retail Building Riverside, CA 92507 $4,203,000 ($844.31/SF)

3767 Iowa Avenue is a ±4,978 square foot freestanding retail building situated on a ±26,136 square foot (0.60-acre) parcel in the heart of Riverside, California. The property is currently leased to Zacatecas Café, a long-standing local restaurant operator, providing immediate in-place income.
The building offers over 100 feet of frontage along Iowa Avenue and is fully improved with a commercial kitchen, bar, and banquet/event space, making it well-suited for continued restaurant use or adaptive retail reuse.
Strategically located near the highly trafficked University Avenue corridor and in close proximity to UC Riverside, the property benefits from strong daily traffic counts, a dense student and residential population, and immediate access to the I-215 freeway. The surrounding area is supported by national retailers and neighborhood-serving businesses, providing consistent consumer demand.
The site is zoned MU-U (Mixed-Use Urban), allowing for high-density, walkable, and transit-oriented development. This creates a compelling opportunity for investors to acquire a covered land play with current income, while maintaining the ability to reposition or redevelop the site in the future. The combination of in-place cash flow, strong location fundamentals, and flexible zoning positions 3767 Iowa Avenue as a unique investment opportunity in a supply-constrained infill market.