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    3590 Central Ave Riverside, CA 92506

    For Sale
    $23,000,000

    Prime Riverside Office, Retail Investment

    Property size:
    111,382 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional Riverside, CA investment opportunity presents a 111,382 square foot, multi-tenant office and retail complex situated on a 5.06-acre lot. The property, comprised of four buildings, boasts 96% occupancy and features 439 parking spaces. Built in 1968 and extensively renovated in 2018, it enjoys a highly desirable location in the Magnolia Center neighborhood, less than four miles from Riverside Municipal Airport and three miles from the revitalized downtown area. The property benefits from its proximity to major freeways (91, I-215, SR-60, SR91), providing excellent access to Orange and Los Angeles Counties. Its location near the University of California, Riverside (UCR), a major research university, further enhances its appeal. With existing leases expiring within the next 12-18 months, this presents a unique owner-user opportunity to occupy approximately half the space while maintaining a substantial income stream. The low site coverage ratio also allows for significant redevelopment potential. The asking price is $23,000,000. This asset offers a compelling blend of immediate income and long-term growth potential within a strong, established market. The property's address is 3590, 3600, 3610, and 3630 Central Ave, Riverside, CA 92506.

    Property Features for 3590 Central Ave

    General Information

    Property type
    Retail properties
    Square Feet
    111,382 SF
    Lot Size
    220,414 SF

    Building Details

    Year Built/Renovated
    1968/2018
    Buildings
    4

    HighLights

    • Rare owner‑user/investment opportunity with in‑place income.
    • Significant owner‑user potential: Approximately 50% of the 111,382 square foot property's leases expire within 12‑18 months.
    • Excellent redevelopment potential: Low site coverage ratio on a 5.06‑acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lisa Liguori, MA, ... Child Health Care Centre 123 Home Care Home Health Care Service Crave Coffee & Tea Coffee Shop Ambercity Hospice Inc Hospice US Bank Mortgage Mortgage Broker

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverside
    County
    Riverside
    State
    California
    Longitude
    -117.3909287
    Latitude
    33.9531968

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    FAQs

    What type of property is this?
    Retail property - Prime Riverside Office, Retail Investment
    Where is this retail property located?
    The property is located at 3590 Central Ave Riverside, CA.
    What is the asking price?
    The asking price for this property is $23,000,000.
    What are key features of this property?
    This property features: Rare owner-user/investment opportunity with in-place income.; Significant owner-user potential: Approximately 50% of the 111,382 square foot property's leases expire within 12-18 months.; Excellent redevelopment potential: Low site coverage ratio on a 5.06-acre lot.
    Request Owner's contact information
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    Riverside, CA 92506
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    Realmo Value Estimation

    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.

    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.

    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
    3590 Central Ave Riverside, CA 92506
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