Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2115 University Ave Riverside, CA 92507

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,635,000

    Commercial property with restaurant and laundromat near UC Riverside.

    Lot size:
    0.41 Acres

    Property Features for 2115 University Ave

    General Information

    Standard status
    Active
    Lot size
    0.41 Acres

    Building Details

    Year built
    1982

    We can help!

    Listing Contact
    Fil Castaneda
    Source: Elliman

    Listing Agent: Fil Castaneda

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Corner Lot Commercial Investment Opportunity

    This commercial property presents an investment opportunity, situated on a corner lot at the intersection of University and Kansas Ave. The property includes two detached buildings: one currently operating as a restaurant with a 19x33 ft covered patio and additional open seating, and the other as a laundromat. Located on a 0.41-acre lot, the property provides a total of 28 parking spaces. The location offers high customer visibility and accessibility from both University and Kansas Ave. It is surrounded by established businesses and benefits from a bus stop station adjacent to the restaurant. The property's location near the University of California - Riverside, with convenient access to major roads and the 91, 60, and 215 freeways, ensures high customer visibility and connectivity to areas such as Los Angeles and Orange County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    El Ojo De ... Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Vip Catering

    Location Insight

    • Map
    • Local Demand
    City
    Riverside
    County
    Riverside
    State
    California
    Longitude
    -117.3574443
    Latitude
    33.9758246

    Nearby Similar for Sale

    • $999,000
      800 SF

      Riverside Commercial Property with Redevelopment Potential

      Prime location with redevelopment potential in Riverside's North Main District.
      2350 Main St, Riverside, CA 92501
      View Details
    • $625,000
      3,340 SF

      Industrial Property in Riverside, CA

      Commercial property featuring fenced perimeter, concrete parking, and office space.
      6275 Columbus Ave, Riverside, CA 92504
      View Details
    • $729,000
      1,152 SF

      Riverside Commercial Property for Sale

      Commercial property in a prime location with business potential.
      10397 Hole Ave, Riverside, CA 92505
      View Details
    • $85,000
      1,328 SF

      Riverside Turnkey Food Business Opportunity

      Turnkey food and beverage business with full commercial kitchen.
      1889 University Ave, Riverside, CA 92507
      View Details
    • $495,000

      Riverside Drive-Thru Restaurant Opportunity

      Established drive-thru restaurant with seating and ample parking.
      10501 Hole Ave, Riverside, CA 92505
      View Details
    • New
      $675,000
      2,008 SF

      Riverside Duplex on Large Lot

      Spacious duplex on 0.35-acre lot, ideal for investors.
      10881 Sunnyslope Dr, Riverside, CA 92505
      View Details
    • New
      $120,000
      1,730 SF

      Turnkey Restaurant Opportunity Near UCR

      Fully operational restaurant near UC Riverside with high visibility.
      1201 University Ave, Riverside, CA 92507
      View Details
    • $925,000
      2,874 SF

      Riverside Multi-Unit Residential Income Property

      Five-unit residential property in prime Riverside location with strong rental potential.
      4481 13Th St, Riverside, CA 92501
      View Details
    • New
      $655,000
      1,960 SF

      Riverside Duplex with Pool

      Duplex featuring a pool, two units, and fenced yards.
      4041 Mcarthur Rd, Riverside, CA 92503
      View Details
    • $720,000
      1,681 SF

      Updated Duplex in Riverside, CA

      Updated duplex with income potential in Riverside, California.
      7563 Lincoln Ave, Riverside, CA 92504
      View Details
    • $775,000
      2,448 SF

      Riverside Duplex on Corner Lot

      Charming duplex with income potential in a desirable Riverside location.
      11711 Carmine St, Riverside, CA 92505
      View Details
    • $1,699,000
      Pending

      Riverside Multifamily Property with Garages

      Eight-unit multifamily property with amenities and parking in Riverside, CA.
      3771 Harvill Ln, Riverside, CA 92503
      View Details

    FAQs

    What type of property is this?
    Restaurant - Commercial property with restaurant and laundromat near UC Riverside.
    Where is this restaurant located?
    The property is located at 2115 University Ave Riverside, CA.
    What is the asking price?
    The asking price for this property is $1,635,000.
    What are key features of this property?
    This property features: - Prime corner lot location at University and Kansas Ave with high customer visibility.; - Two detached buildings: operating restaurant with covered patio (19x33 ft) and laundromat.; - Large .41 acre lot with 28 parking spaces and access from both University and Kansas Ave.
    (951) 943-9537
    Request Owner's contact information
    2115 University Ave Riverside, CA 92507
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2115 University Ave
    Riverside, CA 92507
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2115 University Ave Riverside, CA 92507
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Fil Castaneda
    (951) 943-9537 (951) 657-0268
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!