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    The Largest CRE Database in the US with Over 1 Million Listings

    1825 Chicago Ave Riverside, CA 92507

    Sponsored
    For Lease
    $23 SF/Yr

    Riverside, CA Office Space Available

    Lot size:
    71,677 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    424
    The prestigious Chicago Gateway offers exceptional executive office space in Riverside, California. This Class B building, constructed in 2006, boasts a total of 71,677 square feet spread across two stories. Currently, there are 40,568 square feet of vacant space available, divisible into units as small as 1,500 square feet and up to a contiguous 12,800 square feet, making it ideal for businesses of various sizes. The building features ample parking, with a ratio of 4 spaces per 1,000 square feet. Located at 1825-1955 Chicago Avenue, Riverside, CA 92507, this property provides convenient access to key transportation routes and amenities within Riverside County. The multiple tenancy structure allows for flexibility and a diverse business community. This is a prime opportunity to establish or expand your business in a well-maintained and strategically located office building. The building's modern design and efficient layout offer a productive and comfortable work environment. With its convenient location and flexible space options, Chicago Gateway presents a compelling opportunity for businesses seeking high-quality office space in Riverside. The property is ready for immediate occupancy. Contact us today to schedule a viewing and explore the possibilities.

    Property Features for 1825 Chicago Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    71,677 SF
    Class
    B
    Total Rate
    139770.15

    Building Details

    Year Built
    2006
    Stories
    2

    Spaces For Lease

    at 1825 Chicago Ave, Riverside, CA 92507 Contact us
    Unit 1955 Chicago Ave Suite 110

    $23 /Mo

    Size
    2,327 SF
    Contact us
    Unit 1825 Chicago Ave Suite 100

    $23 /Mo

    Size
    6,405 SF
    Contact us
    Unit 1825 Chicago Ave Suite 105

    $23 /Mo

    Size
    6,390 SF
    Contact us
    Unit 1825 Chicago Ave Suite 220

    $23 /Mo

    Size
    3,740 SF
    Contact us
    Unit 1825 Chicago Ave Suite 240

    $23 /Mo

    Size
    5,323 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Thomas Pierik
    Thomas Pierik

    Learn more

    Property Insight Report

    HighLights

    • Beautifully landscaped, professional office campus.
    • Two two‑story office buildings and single‑story office condos with high‑quality finishes, totaling 71,677 square feet.
    • 40,568 square feet of vacant space available, divisible into units ranging from 1,500 to 12,800 square feet.
    • Excellent signage opportunities.
    • Flexible floor plans to accommodate various users.
    • Convenient Hunter Park location near retail, restaurants, colleges, and downtown Riverside.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Press-Enterprise Publishing House Gallagher Insurance, Risk ... Insurance Agency Mavis Law Firm Next Napa Valley ... Solar Energy Company United Window Film Interior Design

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverside
    County
    Riverside
    State
    California
    Longitude
    -117.3490886
    Latitude
    33.9943695

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    FAQs

    What type of property is this?
    Office Property / Space - Riverside, CA Office Space Available
    Where is this office property / space located?
    The property is located at 1825 Chicago Ave Riverside, CA.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: Beautifully landscaped, professional office campus.; Two two-story office buildings and single-story office condos with high-quality finishes, totaling 71,677 square feet.; 40,568 square feet of vacant space available, divisible into units ranging from 1,500 to 12,800 square feet.
    Request Owner's contact information
    1825 Chicago Ave Riverside, CA 92507
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    Riverside, CA 92507
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1825 Chicago Ave Riverside, CA 92507
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    We can help!
    Listing Contact
    Thomas Pierik
    Thomas Pierik
    Real Estate License ID: 00982027
    Learn more
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