Property profile

1935 Chicago Ave Ste B Riverside, CA 92507

OFF-MARKET
Office buildings
Property ID
US09-3394704
2,980 SF 0.07 ac lot Built 2006
Entity Owned 1-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 2,983 square foot executive office condominium is situated in the desirable Hunter Park area of Riverside, California, at 1935 Chicago Avenue within the Chicago Gateway campus. Built in 2006, this single-story building offers a highly improved and functional floor plan, perfect for owner-users seeking a prominent presence in a thriving market. The property boasts excellent visibility on Chicago Avenue, within a beautifully landscaped, 160,000 square foot master-planned campus. With easy access to the 60, 91, and 215 freeways and proximity to the University of California, Riverside, and downtown Riverside, this location offers unparalleled convenience. The property includes ample parking (4 spaces per 1,000 sq ft), providing convenient access for employees and visitors. The asking price is $835,240, representing a price per square foot of $280, significantly below replacement cost. This presents a unique opportunity for substantial after-tax savings compared to leasing. The property's high-quality interior improvements and flexible floor plan allow for easy customization to meet specific business needs. The strong location within the Inland Empire, a region with a robust economy and a population of 4.6 million, further enhances the investment potential. Excellent signage opportunities are available to increase visibility and brand recognition. The property's APN is 210-081-012. This is a rare chance to acquire a highly desirable office space in a prime Riverside location.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 2006
Construction TILT-UP CONCRETE
Total area 2,980 SF
Lot 0.07 ac (2,910 SF)
Zoning code M1
APN 210-081-012
UPID US09-3394704

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Corporate Office
  • Home Health Care Service
  • Nursing Home

Location

1935 Chicago Ave Ste B Riverside, CA 92507-2368
Riverside metro Census 30502 RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$790k
CAP Approach CAP
$925k
Comparable Approach Comparable
$701k
Blend (final) Blend
$725k

Owner & transaction history

since 2025
Last sale
$835,000
5 recorded transactions
2025
$835,000
2018
Price N/A
2015
$17.2M
2014
Price N/A
2009
Price N/A

Zoning & alternative use

M1 · Riverside, CA
Top alternative use upside
Warehouse, storage $965,000 +62.3%
Medical building $870,000 +46.1%
Retail stores $700,000 +17.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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