Two-Building Retail Restaurant
407 Iowa Avenue Riverside, CA 92507
407 Iowa Avenue, Riverside, CA, 92507
$1,650,000
For Sale
$1,650,000
COMMERCIAL - Riverside, CA
Property Size4,536 SF
Lot Size1.74 Acres
Price / SF$363.76
Days on Market355
Property Features for 407 Iowa Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Fencing
- Cross Fenced
- Standard status
- Active
- APN
- 247081020
- Lot size
- 1.74 Acres
Building Details
- Year built
- 1957
Listing agency
A ONE PLUS REALTY INCORPORATED
(951) 250-1485
Listed by
SHAKER MOHAMMAD · License #01737829
(951) 250-1485
Added: Aug 1, 2025 Updated: Jun 17 at 11:10PM Checked: Jul 21 at 8:06AM
MLS# IV25173310
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property includes a flat, fully fenced lot with two separate commercial buildings, each with its own address: 407 Iowa Ave and 421 Iowa Ave. 407 Iowa Ave is a 2,152 sq ft standalone building currently leased and operating as a restaurant. 421 Iowa Ave totals 2,384 sq ft and is divided into two commercial units, with one unit formerly used as a bakery and the other formerly used as a barber shop, creating a flexible interior layout for owner-use or lease-up.
The site is enclosed with a common block wall, providing added security and privacy. With both established tenancy and additional space ready for lease or repurposing, the configuration supports multiple income streams and offers versatility for an investor or owner-user.
Overall, the property combines straightforward site access with a two-building setup and unit-level flexibility across the restaurant and the two formerly occupied spaces at 421 Iowa Ave.
The site is enclosed with a common block wall, providing added security and privacy. With both established tenancy and additional space ready for lease or repurposing, the configuration supports multiple income streams and offers versatility for an investor or owner-user.
Overall, the property combines straightforward site access with a two-building setup and unit-level flexibility across the restaurant and the two formerly occupied spaces at 421 Iowa Ave.
Key Highlights
- 1.74‑acre flat, fully fenced commercial lot with cross fencing and common block wall for added security and privacy
- Two separate commercial buildings with individual addresses: 407 Iowa Ave and 421 Iowa Ave
- 407 Iowa Ave: 2,152 SF standalone building currently leased and operating as a restaurant
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $95.3k | $21.00 |
| − Vacancy | −$4.8k | −$1.05 |
| EGI | $90.5k | $19.95 |
| − OpEx | −$22.6k | −$4.99 |
| NOI | $67.9k | $14.96 |
4,536 SF · lease $21.00/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$969.6K
$848.4K – $1.13M
NOI $67,870 @ 7.0% cap · market cap 4.11%
Second Best
Retail
$841.1K
$736.0K – $981.3K
NOI $58,877 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,818 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Chris' Burgers
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Flat, fully fenced lot with two address buildings, including a leased restaurant and two divided commercial units.
Where is this conventional restaurant located?
The property is located at 407 Iowa Avenue Riverside, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 1.74‑acre flat, fully fenced commercial lot with cross fencing and common block wall for added security and privacy; Two separate commercial buildings with individual addresses: 407 Iowa Ave and 421 Iowa Ave; 407 Iowa Ave: 2,152 SF standalone building currently leased and operating as a restaurant
