Property profile

508 Grand Blvd Corona, CA 92882

OFF-MARKET
Retail space
Property ID
US09-3297715
4,000 SF 0.23 ac lot Built 1968
Individually Owned 2-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional investment opportunity presents a two-unit retail building totaling 4,008 square feet, situated on a 0.23-acre lot at 508 Grand Boulevard in Corona, CA. Built in 1968, this single-story property boasts a prime location on the iconic circular West Grand Boulevard, zoned Community Service (CS). The larger suite (2,480 sq ft) features six rooms, two bathrooms, central air, and a gas-fired space heater, along with three exterior entrances. The smaller suite (1,600 sq ft) includes one additional room, one bathroom, a wall-mounted AC unit, and a gas-fired space heater, with two exterior entrances. Both suites share a covered 357 sq ft front porch and are adjoined by a common wall. The property offers ample parking with three spaces in the front lot and additional space in the rear. The brick building, constructed on a concrete foundation with a flat/pitch roof, has independent utility access for each suite. The 67-foot street frontage provides excellent visibility. The property's 10,019 sq ft lot offers significant potential. Note that adjacent pod storage units are not included in the sale. The City of Corona is undertaking a comprehensive plan to revitalize the downtown area, with nine scheduled improvements, including streetscape enhancements on Grand Boulevard and 6th Street, already underway. This presents a unique chance to capitalize on the area's anticipated growth. The asking price is $899,000.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1968
Construction TILT-UP CONCRETE
Total area 4,000 SF
Lot 0.23 ac (10,018 SF)
Zoning code C2
APN 117-340-021
UPID US09-3297715

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
  • Clothing & Fashion Store

Location

508 Grand Blvd Corona, CA 92882-2118
Corona metro Census 41704 RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$955k
CAP Approach CAP
$850k
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.04M

Owner & transaction history

since 2023
Last sale
$815,000
4 recorded transactions
2023
Price N/A
2004
Price N/A
1994
Price N/A
1994
Price N/A

Zoning & alternative use

C2 · Corona, CA
General category COMMERCIAL

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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