9590 Magnolia Ave - Freestanding FOR SALE


Riverside, CA 92503- Arlington
$2,100,000 USD
951-479-7994
9590 Magnolia Ave, Riverside, CA for Sale
$2,100,000 USD
Freestanding - FOR SALE
1/9
null | 6% Cap Rate

9590 Magnolia Ave
Riverside, CA 92503
Arlington


OVERVIEW

Progressive Real Estate Partners is pleased to present Magnolia Commons, a 100% occupied, four-unit, multi-tenant retail building located on the highly trafficked Magnolia Avenue corridor in Riverside, CA. The center features service-oriented, internet resistant tenants offering fitness, tax, security, and real estate services. The leases feature in-place 3% annual rental increases and low/replaceable rents, offering minimal downside and the potential for cash flow and value growth over time. The building recently underwent an exterior renovation, including modernized paint, and benefits from strong retail synergy with an adjacent brand new Dutch Bros Coffee (available together – call broker for details). Supported by over 200,000 daytime employees, residents, and students within a 3-mile radius, this asset offers stable in-place income and built-in rent growth from durable service-oriented tenants.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$406 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Magnolia Commons

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

27

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

CL

APN/PARCEL ID

234-111-002

ASK ABOUT THIS PROPERTY

Greg Bedell, CCIMProgressive Real Estate PartnersMore Info
951-479-7994

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Greg Bedell, CCIMProgressive Real Estate PartnersMore Info
951-479-7994

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.