Remodeled Office Building For
2305 Chicago Avenue Riverside, CA 92507
For Sale
Contact for pricing
Single-story office building with remodeled open space and ample parking.
Property Size7,345 SF
Price / SF$251.87
Days on Market669
Property Features for 2305 Chicago Avenue
General Information
- Standard status
- Active
- Size
- 7,345 SF
- Property subtype
- Special Purpose, Land
Listing Agency:
CENTURY 21 Top Producers
(909) 841-8125
Listed By:
Crystal Sanders · License #CA
Source:
Crexi
Added: Sep 26, 2024
Changed: Jul 6
Last Checked: Jul 25 at 2:18PM
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 CENTURY 21 Top Producers
Investment Insights
Based on property information with market context.
Located at the corner of Spruce Street and Chicago Avenue in Riverside, CA, this single-story commercial building offers 7,345 square feet of remodeled office space. The interior features an open layout with half walls and includes 18 offices, 2 kitchens (without gas or dishwashers), and a large conference room. There are 3 bathrooms, all of which are ADA compliant. The property includes 27 parking spaces, with 2 designated as handicapped spots. Parking is secured by an automatic gate with remotes and keypad. The property is zoned BMP.
Key Highlights
- High visibility corner location at a bustling intersection.
- 7,345 sq. ft. of open, remodeled office space.
- 27 dedicated parking spaces secured by an automatic gate.
Financial Insights For Office B
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 | $198.3k | $27.00 |
| − Vacancy | −$12.9k | −$1.76 |
| EGI | $185.4k | $25.25 |
| − OpEx | −$46.4k | −$6.31 |
| NOI | $139.1k | $18.93 |
7,345 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.99M
$1.74M – $2.32M
NOI $139,068 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.52M
$2.20M – $2.94M
NOI $176,206 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
TKE Engineering Inc
Engineering Consultant
Renner Terry
Civil Engineer
FAQs
What type of property is this?
Office building - Single-story office building with remodeled open space and ample parking.
Where is this office building located?
The property is located at 2305 Chicago Avenue Riverside, CA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: High visibility corner location at a bustling intersection.; 7,345 sq. ft. of open, remodeled office space.; 27 dedicated parking spaces secured by an automatic gate.
