Commercial Buildings on Fenced
For Sale
$1,650,000
407 Iowa Avenue, Riverside, CA 92507
Two commercial buildings on a 1.74-acre fenced lot.
Property Size4,536 SF
Lot Size1.74 Acres
Price / SF$363.76
Days on Market443
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
Changed: Jul 6
Last Checked: Oct 16 at 8:46AM
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
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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).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,870
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,357,400
$1.4M
Cap Rate 7%
$969,571
$969.6K
Cap Rate 9%
$754,111
$754.1K
Market Conditions
NOI Build-Up for 4,536 SF
Gross rent
$95.3K $21.00/SF
− Vacancy
−$4.8K −$1.05/SF
EGI
$90.5K $19.95/SF
− OpEx
−$22.6K −$4.99/SF
NOI
$67.9K $14.96/SF
Area
ZIP 92507
Vacancy
5.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,357,400
Cap Rate 7%
$969,571
Cap Rate 9%
$754,111
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 authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
35k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 91%
Dining 7%
Home Improvements & Furnishings 1%
Chevron
Shops & Services
11,292 visits/mo
0.1 miles
76
Shops & Services
5,692 visits/mo
0.1 miles
ExtraMile
Shops & Services
4,887 visits/mo
0.1 miles
Shell
Shops & Services
4,190 visits/mo
0.2 miles
Marathon
Shops & Services
3,086 visits/mo
0.1 miles
Demographics for 92507, CA
63,191
Population
19,739
Households
3.2
Avg Household Size
28
Median Age
32%
College-Educated
84%
High-School Grad
21.4 sq mi
ZIP Area
2,953
Density / Sq Mi
$72,367
Median Household Income
$31,961
Median Earnings
$1,780
Median Rent
$503,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
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).
