Property Overview Addresses: 407 Iowa Ave & 421 Iowa Ave, Riverside, CA 92507 Lot Size: 1.74 acres | Fully fenced with common block wall Buildings: Two standalone commercial structures generating income potential 407 Iowa Ave 2,152?sq?ft standalone building Currently leased and operating as a well-established restaurant 421 Iowa Ave 2,384?sq?ft divided into two commercial units One formerly a bakery One formerly a barber shop Ideal for immediate lease-up or in-house operation ?? Zoning & Land Use Subject property lies within Riverside’s City of Riverside CP-Commercial zoning district, which broadly permits retail, restaurants, personal services, offices, and mixed-use development Riverside, California Riverside, California For permitted uses, setbacks, signage, and expansion potential, verification with the City Planning Division is recommended ?? Traffic Exposure & Access The lot fronts Iowa Avenue, a local municipal corridor; while specific ADT is not publicly posted, typical Riverside arterial segments register between 10,000–20,000 vehicles per day—sufficient for retail/restaurant visibility For precise ADT data at this site, request counts via Riverside County Transportation or Caltrans traffic count programs trans.rctlma.org Surrounding roadways (e.g. 91, 215 freeways) experience notably heavy congestion, especially during peak commute hours, reflecting robust regional mobility Reddit ?? Area Demographics & Market Profile Using ZIP code 92507 (encompassing Highgrove area adjacent to property): Population: 61,920 residents; density ~2,897 people/sq?mi point2homes.com +9 censusreporter.org +9 en.wikipedia.org +9 Households: ~18,314; average size ~2.9 persons censusreporter.org +1 bestplaces.net +1 Median household income: $72,367 (5-year ACS 2023 estimate) demographicsbyradius.com +6 point2homes.com +6 censusreporter.org +6 Per capita income: ~$28,150; poverty rate ~20% (higher than regional average) censusreporter.org Ethnic composition: ~50–53% identify as Hispanic/Latino; diverse community with majority-minority demographics bestplaces.net en.wikipedia.org en.wikipedia.org Median age: mid-20s (e.g. 26.1 in ZIP 92507) indicating a relatively young, working-age population bestplaces.net Typical commute time: ~28?minutes to work; majority commute by car (79% drive alone), ~9% work from home or walk/bike/public transit censusreporter.org unitedstateszipcodes.org Radius Summary (approx. 5-mile area) Population: ~274,600 across ~79,200 households Median household income: ~$86,100 Income distribution: ~11% above $200K; ~12.6% below $25K demographicsbyradius.com ?? Investment Highlights Zoning (CP-Commercial): Appeals to a variety of commercial models—retail, food, professional services, and small-scale mixed-use. Traffic & Visibility: Frontage on Iowa Ave offers consistent local traffic; access reinforced by proximity to major freeways (91, 215) despite congestion patterns, ensuring footfall potential. Demographics: Dense and youthful household base with frequent local spending coupled with moderate incomes. A sizable middle-income cohort with strong demand for affordable retail/services. Ethnic Composition: Predominantly Hispanic/Latino community offers possibilities for ethnic/service-oriented businesses and culturally aligned tenant mix. ?? Use-Case Tailoring For Institutional Investors / Brokers Income security via existing restaurant lease plus opportunity to lease two vacant units Value-add potential: Convert or lease 421 Iowa Ave units to food, service, or retail operators Long-term hold or phased redevelopment: Level lot allows expansion or drive-thru option under CP zoning For Small-Business Tenants or Owner-Operators Restaurant operator: Purchase property and operate or sublease one building; tenant café or complementary service in second building Service-based tenants: E.g., beauty salon, café, wellness services—good fit given local household size and ethnic composition Owner-occupant: Potential to move into one unit while leasing out the other for supplemental cash flow