Corona Mixed-Use Investment
1185 W Grand Corona, CA 92882
1185 W Grand, Corona, CA, 92882
$1,175,000
Pending
For Sale
$1,175,000
Pending
Mixed-use property with retail/office and residential units in Corona.
Property Size4,800 SF
Lot Size0.23 Acres
Days on Market90
Property Features for 1185 W Grand
General Information
- Standard status
- Pending
- Size
- 4,800 SF
- Lot size
- 0.23 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1962
Listing agency
Realty ONE Group West
(949) 783-2400
Listed by
Steven Doan · License #01378506
(949) 783-2400
Source
Elliman
Added: Apr 24 Updated: Jul 10 at 1:18PM Checked: Jul 21 at 5:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty ONE Group West
Investment Insights
Based on property information with market context.
Located in the heart of downtown Corona, this mixed-use property at 1175 & 1185 W. Grand Blvd. presents a unique investment opportunity. The property features two commercial units in warm shell condition and two oversized residential units on the second level. Each residential unit includes 2 bedrooms and 2 full bathrooms, with separate electrical meters. One of the residential units has been recently remodeled. The tenants are currently on a month-to-month basis. The building size is approximately 4,800 square feet, situated on a lot of approximately 10,018 square feet. The property consists of a double lot with separate parcels. The location is considered very walkable with a walk score of 73 and somewhat bikeable with a bike score of 44. Public transportation is minimal, with a transit score of 23. The property is being sold in as-is condition.
Key Highlights
- Mixed‑use property with 2 commercial units and 2 residential units.
- Located in the heart of Corona/The Circle Downtown Corona, near Main Street.
- Double lot with separate parcels (APN:117‑255‑014 & 117‑255‑015).
Local Financial Insights For Multifamily LT 5
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 | $121.0k | $25.20 |
| − Vacancy | −$6.7k | −$1.39 |
| EGI | $114.3k | $23.81 |
| − OpEx | −$34.3k | −$7.14 |
| NOI | $80.0k | $16.67 |
4,800 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$1.00M – $1.33M
NOI $80,015 @ 7.0% cap · market cap 6.81%
Second Best
Office B
$1.06M
$926.6K – $1.24M
NOI $74,131 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,509 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with retail/office and residential units in Corona.
Where is this mixed-use property located?
The property is located at 1185 W Grand Corona, CA.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Mixed‑use property with 2 commercial units and 2 residential units.; Located in the heart of Corona/The Circle Downtown Corona, near Main Street.; Double lot with separate parcels (APN:117‑255‑014 & 117‑255‑015).
