9741 Magnolia Ave

9741 Magnolia Ave , Riverside, California, 92503 | 13,200 sq.f | $ 2,900,000

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About This Restaurant

Investment Highlights

heavy foot trafic and excellent business exposure at corner lot less than 0.5miles from international brand name, Galleria at Tyler Mall, Anchor Lowes, McDonald, and Wallmart. 3 front entrance available for multiple tenant in case new owner does not want to use all 13,250 sqft building

Executive Summary

Location! Location! Location! Retail General. Former owner use it as Indian Spice Market and current owner use it as Auto-Parts. Building is in mature commercial area that maximize long term investment potential while utilize 13,250sqft building to run business or even rent out in Riverside. 3 Front entrance, one story, Free standing alone building, in corner lot of busiest popular Magnolia Street offer 24,394 sqft lot size. Excellent exposure for your business due to its good location, nearby regional retaillers (Starbuck, Walmart Shopping Center, Lowe's Plaza, Gelleria at Tyler Mall or fast food restaurants (Sonic drive thru, McDonald's or In & Out), easily accessible to corner lot, conveniently to Pedley Metrolink, closer to 91 freeway and interconnect freeway 71, 60, 57, 10. The building offer upgrade sercurity parking gate entrance, 1 Front office, 1 waiting area, 2 restrooms, high visible signage. You can access building from both front and rear. 13 parking spaces in the rear. Per city of Riverside, Zoning changes to mixed use zones (neighborhood village urban) which allow more options for future developement while occupying building or rent it out. Buyer and agent responsible for due all diligent. Listing broker and seller does not responsible for the accuracy of sqft of building, lot size. Sale "As Is". Information deem reliable; but, not guarantee.

Property Details

  • Sale Type    Investment or Owner User
  • Sale Condition    1031 Exchange
  • Property Type    Retail
  • Property Subtype    Freestanding Freestanding General Retail Daycare Center General Retail Restaurant General Retail Storefront Freestanding
  • Building Size    13,200
  • Building Class    C
  • Year Built    1978
  • Price    2,900,000
  • Price Per SF    220
  • Cap Rate    6.85
  • NOI    198,750
  • Tenancy    Single
  • Building Height    1 Story
  • Loading Docks    1 Exterior
  • Building FAR    0.54
  • Land Acres    0.56 AC

Amenities

  • Corner Lot
  • Signage
  • Storage Space

Nearby Amenities & Transportation

Retail U.S. Bank
Retail Panda Express
Retail Alberto's Mexican Food
Retail Jack In The Box
Retail Food 4 Less
Retail Crunch
Retail Lee's Sandwiches
Retail Yard House
Retail Buffalo Wild Wings
Retail Flame Broiler

Property Taxes

Parcel Number 145-280-030 Improvements Assessment $546,822 (2023)
Land Assessment $863,979 (2023) Total Assessment $1,410,801 (2023)
Date Created: 2024-07-16 04:09:24 Last Updated: 2024-07-16 04:09:24
Address: 9741 Magnolia Ave , Riverside, California, 92503