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3695 Central AVE Riverside, CA 92506
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Key Details
Sold Price $2,199,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 976 sqft
Price per Sqft $2,253
MLS Listing ID PW22069905
Sold Date 05/04/22
HOA Y/N No
Tax Year 2022
Lot Size 0.310 Acres
Acres 0.31
Property Sub-Type Retail
Property Description
Pleased to present a single tenant absolute NNN leased investment (fee simple interest) occupied by Wienerschnitzel with a lease term through August 31, 2031 in Riverside, California. The Galardi Group signed an original lease in 1988 and has recently negotiated a 10-year extension maintaining their presence a this location for years to come. In addition to extending the lease by 10-years there are 2, fixed 5-year option periods potentially extending the term through August 31, 2041. The subject property includes an approximate 976 SF drive-thru building on a 13,504 SF lot near the intersection of Magnolia Avenue and Central Avenue. This is a one of the kind opportunity to purchase an absolute NNN investment property located in the City of Riverside on a long term, corporate-backed, lease with outstanding operating history.
Location
State CA
County Riverside
Area 252 - Riverside
Zoning Commercial General
Interior
Laundry None
Building
Lot Description Lot 10000-19999 Sqft
Water None
Others
Acceptable Financing None
Listing Terms None
Financing None
Special Listing Condition Standard
Lease Land No
Confidential INFO
BAC 2.5
TERMS Cash,Cash To New Loan
LIST AGRMT Exclusive Right To Sell
SHOW CONTACT TYPE None
SHOW INSTRUCTIONS Do not disturb tenant. There is a long term NNN lease (NO LANDLORD FINANCIAL RESPONSIBILITIES) and the tenant has 10-years plus option periods. Contact Jon Davis (jon.davis@svn.com) with any questions
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Bought with MIKE REALTY