3948-3964 University Ave | Riverside, CA 92501
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- LoopNet Team
3948-3964 University Ave
Riverside, CA 92501
The Shops at University Square · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 100% Leased to 6 E-Commerce Resistant Tenants – The asset features a robust mix of internet resilient tenants
- Diverse Tenant Mix – the property’s income is spread across 6 tenants with no individual tenant accounting for more than 24% of the center’s income
- Adjacent by Established Community Grocery Store – Maxi Foods has operated at the site for over 20 years.
- Fully NNN Leases – All of the center’s tenants are on industry standard AIR NNN leases with no caps on property taxes, insurance, or CAM.
- Recent Facelift – The entire shopping center, including the subject property, was recently remodeled with a new façade.
- Clean Phase I Report & Detailed Due Diligence Package – The seller has preemptively obtained a clean Phase I environmental report dated April 2024.
PROPERTY FACTS
Property Type
Retail
Property Subtype
Storefront
Building Size
7,250 SF
Building Class
B
Year Built
1985
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.30
Lot Size
0.55 AC
Zoning
C2D
Parking
18 Spaces (2.48 Spaces per 1,000 SF Leased)
Frontage
174’ on University Ave
AMENITIES
- Bus Line
- Commuter Rail
PROPERTY TAXES
| Parcel Number | 215-022-025 | Improvements Assessment | $3,050,000 |
| Land Assessment | $600,000 | Total Assessment | $3,650,000 |
PROPERTY TAXES
Parcel Number
215-022-025
Land Assessment
$600,000
Improvements Assessment
$3,050,000
Total Assessment
$3,650,000
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