Commercial Buildings on Fenced
407 Iowa Avenue Riverside, CA 92507
407 Iowa Avenue, Riverside, CA, 92507
$1,650,000
For Sale
$1,650,000
Two commercial buildings on a 1.74-acre fenced lot.
Property Size4,536 SF
Lot Size1.74 Acres
Price / SF$363.76
Days on Market353
Property Features for 407 Iowa Avenue
General Information
- Standard status
- Active
- Size
- 4,536 SF
- Lot size
- 1.74 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1957
Listing Agency
A ONE PLUS REALTY INCORPORATED
(951) 250-1485
Listed by
SHAKER MOHAMMAD · License #01737829
Source
Corcoran
Added: Aug 2, 2025 Checked: Jul 20 at 3:48 am
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 A ONE PLUS REALTY INCORPORATED
Investment Insights
Based on property information with market context.
This investment opportunity features a flat, fully fenced 1.74-acre lot with two separate commercial buildings, addressed as 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 is 2,384 sq ft and divided into two commercial units, one formerly a bakery and the other formerly a barber shop. The layout of 421 Iowa Ave is flexible, making it suitable for owner-use or lease-up. The property features a flat, level lot and is enclosed with a common block wall. It offers multiple income streams from established tenants and vacant units. This property is positioned for long-term investment or immediate business use and is ideal for investors seeking cash flow or owner-users looking for a versatile commercial space.
Key Highlights
- 1.74‑acre flat, fully fenced lot with two separate commercial buildings.
- Multiple income streams from existing restaurant lease and potential for leasing vacant units.
- Two buildings with separate addresses: 407 Iowa Ave (restaurant) and 421 Iowa Ave (two commercial units).
Local 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 | $95.3k | $21.00 |
| − Vacancy | −$4.8k | −$1.05 |
| EGI | $90.5k | $19.95 |
| − OpEx | −$22.6k | −$4.99 |
| NOI | $67.9k | $14.96 |
4,536 SF · lease $21.00/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$969.6K
$848.4K – $1.13M
NOI $67,870 @ 7.0% cap · market cap 4.11%
Second Best
Retail
$841.1K
$736.0K – $981.3K
NOI $58,877 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,818 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Chris' Burgers
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Storefront property - Two commercial buildings on a 1.74-acre fenced lot.
Where is this storefront property located?
The property is located at 407 Iowa Avenue Riverside, CA.
What is the asking price?
The asking price for this property is $1,650,000.
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 for leasing vacant units.; Two buildings with separate addresses: 407 Iowa Ave (restaurant) and 421 Iowa Ave (two commercial units).
