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

    407 Iowa Ave Riverside, CA 92507

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,750,000

    Two commercial buildings on a 1.74-acre lot.

    Lot size:
    1.74 Acres

    Property Features for 407 Iowa Ave

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    1.74 Acres

    Building Details

    Year built
    1957

    We can help!

    Listing Contact
    Shaker Mohammad
    Source: Elliman

    Listing Agency: A ONE PLUS REALTY INCORPORATED Listing Agent: Shaker Mohammad

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

    Learn more

    Overview

    Versatile Commercial Property For Sale

    This commercial property features a flat, fully fenced 1.74-acre lot with two separate commercial buildings. The buildings have individual addresses: 407 Iowa Ave and 421 Iowa Ave. The building at 407 Iowa Ave is a 2,152 sq ft standalone structure currently leased and operating as a restaurant, generating income. The building at 421 Iowa Ave offers 2,384 sq ft and is divided into two commercial units, formerly a bakery and a barber shop. The flexible layout is ideal for owner-use or lease-up potential. The property is enclosed with a common block wall for security and privacy. It offers multiple income streams from established tenants and vacant units ready for lease or repurposing. This property is positioned for long-term investment or immediate business use.
    Location Intelligence

    Current Use by Public Records

    Chris' Burgers Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Hair Salon Nail Salon Gym & Fitness Center Pharmacy Building Supply Accounting Firm Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverside
    County
    Riverside
    State
    California
    Longitude
    -117.3401736
    Latitude
    34.0140658

    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?
    Storefront property - Two commercial buildings on a 1.74-acre lot.
    Where is this storefront property located?
    The property is located at 407 Iowa Ave Riverside, CA.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: - 1.74-acre flat, fully fenced lot with two separate commercial buildings.; - Multiple income streams from existing restaurant lease and potential from vacant units.; - **2,152 sq ft building currently leased to a restaurant, providing immediate income.**
    (951) 250-1485
    Request Owner's contact information
    407 Iowa 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.
    407 Iowa 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
    407 Iowa 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
    Shaker Mohammad
    Real Estate License ID: DRE #01737829
    (951) 250-1485
    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!