Magnolia Commons | 9590 Magnolia Ave
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Magnolia Commons 9590 Magnolia Ave 5,174 SF 100% Leased Retail Building Riverside, CA 92503 $2,100,000 ($405.88/SF) 6% Cap Rate
EXECUTIVE SUMMARY
Progressive Real Estate Partners is pleased to present Magnolia Commons, a 100% occupied, four-unit, multi-tenant retail building located on the highly trafficked Magnolia Avenue corridor in Riverside, CA. The center features service-oriented, internet resistant tenants offering fitness, tax, security, and real estate services. The leases feature in-place 3% annual rental increases and low/replaceable rents, offering minimal downside and the potential for cash flow and value growth over time. The building recently underwent an exterior renovation, including modernized paint, and benefits from strong retail synergy with an adjacent brand new Dutch Bros Coffee (available together – call broker for details). Supported by over 200,000 daytime employees, residents, and students within a 3-mile radius, this asset offers stable in-place income and built-in rent growth from durable service-oriented tenants.
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PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
5,174 SF
Building Class
C
Year Built
1984
Price
$2,100,000
Price Per SF
$405.88
Cap Rate
6%
NOI
$126,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.34
Lot Size
0.35 AC
Zoning
CL
Parking
27 Spaces (5.22 Spaces per 1,000 SF Leased)
Frontage
103’ on Magnolia Ave
AMENITIES
- Bus Line
- Dedicated Turn Lane
- Signage
- Signalized Intersection
- Balcony
Walk Score®
Very Walkable (87)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 234-111-002 | Improvements Assessment | $571,200 |
| Land Assessment | $244,800 | Total Assessment | $816,000 |
PROPERTY TAXES
Parcel Number
234-111-002
Land Assessment
$244,800
Improvements Assessment
$571,200
Total Assessment
$816,000
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Magnolia Commons | 9590 Magnolia Ave
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