4100 Central Ave Riverside, CA 92506-2933

Property Details for 4100 Central Ave

Year built

1960

Construction

TILT-UP CONCRETE

Lot size

0.98 lot acres

Property size

17,372 SF

Zone code

C1

Property type

Medical offices

Property subtype

Medical centers

APN

225-202-019

APU

225202019

Description

This exceptional investment opportunity presents the chance to acquire the leased fee interest (land ownership) in a brand-new Raising Cane's restaurant located at 4100 Central Ave, Riverside, CA 92506. The property boasts a 15-year absolute NNN lease with a corporate guarantee from Raising Cane's Restaurants, LLC, commencing December 1, 2024, and expiring December 1, 2039. The lease includes three 5-year and one 4-year options to extend, ensuring long-term stability. Rent increases of 10% are scheduled throughout the initial term and at the start of each option period, providing built-in inflation protection and growing net operating income (NOI). The 3,267 square foot building, constructed in 2024, sits on a 1.29-acre lot and includes 25 parking spaces. The property is zoned CG - Commercial General and features excellent visibility at a signalized intersection with high daily traffic volume (66,200 vehicles). An additional 0.31-acre parcel is included, currently used for employee parking, offering future development potential. The property's strategic location near Riverside Plaza, a major shopping center, and several universities and high schools, ensures a strong consumer base within a 5-mile radius with a population exceeding 283,100 residents and 122,600 employees, boasting an average household income of $104,129. The property's NOI is $325,000, resulting in a 4.40% cap rate and an asking price of $7,386,000 ($2,260.79 per square foot). This is a truly passive investment opportunity with zero landlord responsibilities. The property's proximity to State Highway 91 (212,000 vehicles per day) further enhances its accessibility and visibility. The APN is 225-202-019, 225-201-062.