3678 Central Ave Riverside, CA 92506-2420
- Strip malls
- 2,838 SF
- 0.37 lot acres
Dec 16, 2024
Current Use by Public Records
- Kung Fu Tea / Cafe / Tea House
- Pizza Twist / Pizza Restaurant / Chicken Wings Restaurant
- HobiCupsleeves / Restaurant
- The Loop / Churreria
- Cbre / Real Estate Agency
Property Details for 3678 Central Ave
- Year built
- 2020
- Construction
- WOOD
- Lot size
- 0.37 lot acres
- Property size
- 2,838 SF
- Zone code
- C3
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 225-231-010
- APU
- 225231010
Description
Riverside Central, a Class A, 7,531 square foot shopping center, presents a compelling value-add investment opportunity in Riverside, CA. This single-story, 2020-built property boasts eight units within a 4,800 square foot building situated on a 16,117 square foot lot (APN: 225-231-010). Located at the signalized intersection of Central and De Anza Avenues, experiencing over 44,682 cars daily, this irreplaceable corner location offers high visibility and accessibility. The property is less than 0.6 miles from the 91 Freeway and under three miles from Downtown Riverside, benefiting from a strong daytime population of 143,006 residents and proximity to Riverside Plaza, a major shopping destination. The attractive architectural design features outdoor patio dining areas, ideal for the Southern California climate. Currently, several units are available for lease, allowing a new owner to increase occupancy and cash flow. The existing tenants generate immediate income, while the potential for full occupancy promises significant value appreciation. The property's location in a mature trade area with limited development opportunities creates high barriers to entry for future competition. Original entitlements include approvals for alcohol sales in approximately 3,000 square feet of patio space. The asking price is $3,500,000 ($729.17/sq ft), representing a significant discount to replacement cost. This presents an exceptional opportunity for an owner-user or investor to capitalize on the explosive growth of the Inland Empire, with a population exceeding 4.5 million and average household incomes within three miles exceeding $111,000. The food and beverage tenant base offers resilience against various economic factors.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,700,000
- ML approach
- $2,700,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Riverside
- County
- Riverside
- State
- California
- Longitude
- -117.394
- Latitude
- 33.9531
- CBSA code
- 40140
- CBSA name
- RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
