Investment Highlights
Iconic & Historic Property ? Generational Investment Opportunity
Excellent Value-Add or Adaptive Re-use Opportunity - Highly Desirable Mission District Location w/ Extensive Upside
Wide Range of Attractions from Nightlife to Museums, Hotels, Nightlife to Museums, Hotels, Restaurants, Convention Center, and more
Adaptive Re-Use Potential w/ Transformation into an Array of Different Uses
Located in Historic Downtown Riverside, Known for its Diverse Culture, Arts Scene
Over 246,000 People in a 5-Mile Radius with an Avg Household Income of $93,471 and Avg Retail Expenditure of $136,895
Executive Summary
The Ovaness-Rostamian Group of Marcus and Millichap is pleased to present the iconic Mission Galleria Building for sale in Riverside, CA. Embrace a generational opportunity to acquire a piece of history in the ever-transforming landscape of Downtown Riverside. Positioned across the street from the famed Mission Inn Hotel and Spa, and just minutes from the Riverside Convention Center this timeless treasure boasts 83 years of heritage, once a Sears Robuck Building, now registered as a historic Art Deco marvel that enriches the allure of walkable Downtown Riverside.Mission Galleria is perfectly positioned in the quickly transitioning walkable core of downtown Riverside. Investors can take advantage of its value-add potential and potentially re-develop the property to create much-needed housing and top-quality retail for the area much like the recently developed Imperial Lofts & Stalder Plaza. The property also has owner-user potential with the prospect of obtaining SBA Financing or conversion of the property into much-needed storage space in Downtown Riverside.Investors can take advantage of the current cash flow the building generates to cover carrying costs while securing the needed approvals for redevelopment. Mission Gallery presents selectors with the once-in-a-lifetime opportunity to acquire a unique and iconic asset that could be curated and re-imagined, serving the Riverside community in an award-winning fashion. Currently, all tenants are month-to-month throughout the entire premises with no options to extend. Included with the Mission Galleria Antique Shop tenant, the property features a well-established coffee shop and cafe on the ground floor facing Main Street and Hideaway Bar in the Basement. The building also features soaring high ceilings of over 15 to 20 feet tall. Public title shows the property at approximately 54,000 square feet of building situated upon 13,939 square feet of land. Buyer?s to verify square footage via Buyer?s due diligence. Contact listing agents for details on the Buyer qualification process, property touring, and submittal deadline on call for offers. As requested by the ownership, please do not disturb the tenants of the property. All tours are to be scheduled with our team of knowledgeable agents.
