11095 Magnolia Ave Riverside, CA 92505-3046

Property Details for 11095 Magnolia Ave

Year built

1967

Construction

TILT-UP CONCRETE

Lot size

0.46 lot acres

Property size

1,638 SF

Zone code

C2

Property type

Retail space

APN

142-262-012

APU

142262012

Description

This exceptional investment opportunity presents a brand-new, single-tenant, 2,470 square foot Pollo Campero restaurant situated on a 0.7-acre lot in Riverside, California. The property boasts a prime location at a hard-corner intersection with high visibility and traffic counts (59,262 combined VPD on Magnolia Ave and La Sierra Ave). Built in 2024 and scheduled to open January 2025, this property features a 15-year absolute NNN ground lease with four renewal options, ensuring long-term stability. The lease includes a favorable 10% rent increase every five years, providing significant future income growth. The property benefits from excellent access to CA-91 (215,000 VPD), proximity to major shopping centers including La Sierra Plaza (72,780 SF) and Galleria at Tyler (1.1MM+ SF), and is less than 0.5 miles from Kaiser Permanente Riverside Medical Center. The surrounding area demonstrates strong demographics, with a population exceeding 132,900 and an average household income over $96,900 within a three-mile radius. The property includes 28 parking spaces and a drive-thru. With a current NOI of $245,000 and an asking price of $4,900,000, this represents a compelling 5.00% cap rate. This is a rare opportunity to acquire a high-performing, passively managed asset in a thriving retail corridor. The property's strong tenant, favorable lease terms, and prime location make it an ideal addition to any investment portfolio.