Corner Restaurant and
2115 University Riverside, CA 92507
For Sale
$1,635,000
Two detached buildings on a corner lot include a restaurant with patio seating and a laundromat.
Property Size3,412 SF
Lot Size0.41 Acres
Price / SF$479.19
Days on Market385
Property Features for 2115 University
General Information
- Standard status
- Active
- Size
- 3,412 SF
- Lot size
- 0.41 Acres
- Property subtype
- Commercial Sale / Mixed Use
Building Details
- Year Built
- 1982
Listing Agency:
CASTANEDA REAL ESTATE
(951) 943-9537
Listed By:
CONCY CASTANEDA · License #01467672
(951) 943-9537
Source:
Compass
Added: Jul 5, 2025
Changed: Jul 22
Last Checked: Jul 23 at 9:38AM
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 CASTANEDA REAL ESTATE
Investment Insights
Based on property information with market context.
The property consists of two detached buildings on a corner lot. One building is operated as a restaurant and includes a covered patio sitting area measuring 19x33 feet, along with additional open space featuring more tables. The second building is a laundromat.
The site is described as having access through both University and Kansas Ave and offers 28 parking spaces. The property is located on a busy corner lot, surrounded by established businesses, and has a bus stop station next to the restaurant. The remarks also note proximity to University of California–Riverside and nearby major roads and freeways.
This is a single parcel configuration designed to support multiple on-site uses, with shared corner-lot access and parking to serve customers for both the restaurant and laundromat.
The site is described as having access through both University and Kansas Ave and offers 28 parking spaces. The property is located on a busy corner lot, surrounded by established businesses, and has a bus stop station next to the restaurant. The remarks also note proximity to University of California–Riverside and nearby major roads and freeways.
This is a single parcel configuration designed to support multiple on-site uses, with shared corner-lot access and parking to serve customers for both the restaurant and laundromat.
Key Highlights
- Commercial property built in 1982 with two detached buildings on a busy corner lot
- Restaurant building includes a covered patio seating area (19x33 ft) and additional open space with more tables
- Second detached building is a laundromat
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 | $71.7k | $21.00 |
| − Vacancy | −$3.6k | −$1.05 |
| EGI | $68.1k | $19.95 |
| − OpEx | −$17.0k | −$4.99 |
| NOI | $51.1k | $14.96 |
3,412 SF · lease $21.00/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$729.3K
$638.2K – $850.9K
NOI $51,052 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,854 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
El Ojo De ...
Restaurant
FAQs
What type of property is this?
Conventional restaurant - Two detached buildings on a corner lot include a restaurant with patio seating and a laundromat.
Where is this conventional restaurant located?
The property is located at 2115 University 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: Commercial property built in 1982 with two detached buildings on a busy corner lot; Restaurant building includes a covered patio seating area (19x33 ft) and additional open space with more tables; Second detached building is a laundromat
