3590 Central Ave Riverside, CA 92506

This commercial property is situated in Riverside's Magnolia Center neighborhood, a commercial hub where Magnolia, Central, Arlington, and Brockton Avenues converge. The location is less than 4.0 miles from Riverside Municipal Airport and less than 3.0 miles from Riverside’s revitalized Downtown, which has served as the county seat of government since 1893 and is the cultural and civic home for the Inland Empire. The University of California, Riverside (UCR), is less than 5.0 miles away. UCR enrolls approximately 23,000 students in more than 190 Bachelor’s, Master’s and Ph.D. degree-programs, attracts approximately $140 million in research funds, and provides an economic impact of nearly $3 billion annually. The property is suitable for both office and retail use. The Inland Empire has held the lowest office vacancy rate in the U.S. for five straight quarters, with vacancy declining to 8.5% as of the second quarter 2024. Retail availability has also continued to tighten. The property is located within the Inland Empire's West End submarket, boasting the third lowest availability rate among all Inland Empire submarkets at 7.3% as of the fourth quarter 2024. Over the last five years, Riverside’s total employment has grown at an average annual rate of 2.3%, while across the U.S., employment has grown at an average annual rate of 1.0%. In that same span, office employment alone has grown by 2.5% annually. The property size is 111382 square feet.