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    Flex Condo Units For Sale Title is generated by Realmo AI

    1485 Spruce St, Riverside, CA

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    Two flex condo units with corporate office and warehouse storage.

    Type:OFFICE
    Property size:
    3,617 SF
    Lot size:
    3.33 Acres
    Price / SF:
    $243/SF
    Added:
    Feb 21, 2025
    Days on Market:
    479
    Last Refresh:
    May 20 at 8:54 pm

    Property Features for 1485 Spruce St

    General Information

    Standard status
    Active
    Size
    3,617 SF
    Lot size
    3.33 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Joe A. Stance, CCIM

    Listing agent Joe A. Stance, CCIM License #01791235

    Listing office Stance Commercial Real Estate

    Listing date Feb 21, 2025

    Source Moodyscre

    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 Stance Commercial Real Estate

    HighLights

    • Fully Built‑Out Corporate Office Space
    • Two (2) Flex Condo Units totaling ±3,617 SF
    • Direct Access to 91, 60, & 215 Freeways
    • Warehouse Storage available
    • Close Proximity to Downtown Riverside
    • Great Owner‑User or Investment Opportunity

    Overview

    Two flex condo units totaling approximately 3,617 square feet are available for purchase. The units feature fully built-out corporate office space and warehouse storage. The property offers convenient access to the 91, 60, and 215 Freeways and is located in close proximity to Downtown Riverside. This property presents an opportunity for either an owner-user or as an investment.

    Local Financial Insights For Industrial

    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 $66.4k $18.36
    − Vacancy −$266 −$0.07
    EGI $66.1k $18.29
    − OpEx −$19.8k −$5.49
    NOI $46.3k $12.80
    3,617 SF · lease $18.36/SF/yr · vacancy 0.40% · expense 30.00%

    Alternative Uses

    Best Use
    Industrial
    $661.4K
    $578.8K – $771.7K (±1% cap)
    NOI $46,300 @ 7.0% cap · market cap 5.26%
    Second Best
    Flex RnD
    $612.6K
    $536.0K – $714.7K (±1% cap)
    NOI $42,883 @ 7.0% cap · market cap 4.87%
    Theoretical Best
    Office A
    $1.24M
    $1.09M – $1.45M (±1% cap)
    NOI $86,864 @ 7.0% cap · market cap 9.87%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    R & S CARPET ... General Contractor The Cookie Tin Restaurant Applied General Agency Insurance Agency Pro Management Company ... Property Management Company ABSS Networks Inc IT Consulting Firm

    Suggested Use

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

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

    Similar Places Nearby

    • BIRRIERIA SINALOA STREET TACOS — 84165 CA-111, Indio, CA 92201

    Location Insight

    • Map
    • Local Demand
    City
    Riverside
    County
    Riverside
    State
    California
    Longitude
    -117.344
    Latitude
    33.9907

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    FAQs

    What type of property is this?
    Flex space - Two flex condo units with corporate office and warehouse storage.
    Where is this flex space located?
    The property is located at 1485 Spruce St Riverside, CA.
    What is the asking price?
    The asking price for this property is $880,000.
    What are key features of this property?
    This property features: Fully Built‑Out Corporate Office Space; Two (2) Flex Condo Units totaling ±3,617 SF; Direct Access to 91, 60, & 215 Freeways
    (909) 772-1212 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joe A. Stance, CCIM
    Real Estate License ID: 01791235
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