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3375 Iowa Avenue Riverside, CA 92507
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Key Details
Sold Price $7,400,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 35,660 sqft
Price per Sqft $207
MLS Listing ID OC18108066
Sold Date 11/09/18
HOA Y/N No
Year Built 1986
Lot Size 2.750 Acres
Property Sub-Type Retail
Property Description
Investment Highlights: Current Cap Rate of 6.70% With Substantial Upside to 7.53% Pro Forma Cap Rate by Converting Gross Leases to NNN / Low Price Per Square Foot / Now 100% Occupied / Owner has Made Substantial Capital Improvements to the Shopping Center Including New Paint, Parking Lot Improvements, and Tenant Sign Improvements / Just Two Minutes from the University of California, Riverside which has Over 23,200 Students / Just Off the 215 Freeway (157,000+ Cars Per Day) / Over 1,600 Apartment & Student Living Units are Located ½ a mile from the Subject Property
Location
State CA
County Riverside
Area 252 - Riverside
Interior
Laundry None
Building
Lot Description 2-5 Units/Acre, 6-10 Units/Acre, 11-15 Units/Acre, Corner Lot, Lot 10000-19999 Sqft, Near Public Transit
Story 1
Water See Remarks
Others
Acceptable Financing None
Listing Terms None
Financing None
Special Listing Condition Standard
Lease Land No
Confidential INFO
BAC 2.0
BAC RMRKS Co-op Split 50/50
LIST AGRMT Seller Reserved
SHOW CONTACT TYPE Agent
SHOW CONTACT NAME Ron Duong
SHOW CONTACT PH 949-419-3233
SHOW INSTRUCTIONS Contact Agent for More Details
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Bought with Gateway Commercial