116 Ramsey StBanning, CA 92220

Property Details for 116 Ramsey St

Year built

1936

Construction

TILT-UP CONCRETE

Lot size

0.10 AC

Property size (Sq ft)

3,570 SF

Zone code

C2

Property type

Retail properties

Property subtype

Turn key restaurants

APN

540-203-008

APU

540203008

Description

This exceptional commercial property at 116 Ramsey Street, Banning, CA, presents a unique investment opportunity. The 3,026 square foot building sits on a 0.1-acre lot in the heart of Historic Downtown Banning, offering unparalleled visibility and accessibility. For over 37 years, this location has operated as a successful Chinese restaurant, establishing a strong reputation and loyal customer base. Its prime location is within easy walking distance of City Hall, the Courthouse, Police Department, and numerous shops and restaurants, ensuring consistent high foot and vehicle traffic. The property benefits from its position as a central point within the upcoming Downtown Revitalization Project. The well-maintained building features a spacious interior, ideal for restaurant operations. The kitchen is fully equipped with a wash station, ample storage, a walk-in freezer, and a dedicated prep station. The dining area is attractively furnished with booths, tables, and chairs, creating a welcoming atmosphere. The property includes a strategically placed sign for maximum visibility. This versatile property is suitable for continued operation as a Chinese restaurant or offers the potential for a new culinary venture. The asking price is $1,250,000. This is a rare chance to acquire a well-established business with significant growth potential in a rapidly developing downtown area. The property's history and prime location make it an exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $1,442,335

  6.5%

  $1,331,386

  7%

  $1,236,287

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,578,171

  Geo Method

  $3,166,463

• Alternative Use

  Use

  Valuation

  Residential

  $1,123,074

  Hospitality

  $1,028,730

  Educational

  $855,891

  Medical

  $885,327

  Retail

  $1,331,386

Location Insight

City

Banning

County

Riverside

State

California

Latitude

33.9252

Longitude

-116.878

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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