5300 Arlington Avenue

    Riverside, CA 92504
    • $2,390,000
    • STATUS: Active
    • ON SITE: 90 days
    • ID#: GD18224556
    UPDATED: 51 min ago
    $2,390,000
    • 0
      BEDS
    • 0.45
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,430
      SQFT
    • $322
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1980
    County:

    School Ratings & Info

    Description

    We are pleased to present Arlington Plaza - a six-unit retail strip center on the 5-point signalized corner of Arlington Avenue, California Avenue & Streerer Avenue in Riverside, California. Arlington Plaza is a 7,430+- square foot, multi-tenant strip center with a mix of local and regional tenants. There is an opportunity for an owner-user to occupy the anchor space of approximately 2,700+- square feet, which is currently occupied by May Flowers. May Flowers can vacate the space at the close of escrow or sign a short term lease with a new Buyer. The remaining tenants include Fast 5 Pizza, a Beauty Salon, an Employment Agency and Metro PCS. The strip center wraps the entire corner providing over 250+GG of street frontage and allowing every tenant to have some street visibility. The subject property is clearly visible from all angles of the intersection as an estimated 40,000 vehicle pass through that intersection daily in accordance to 2017 vehicle traffic counts for California and Arlington Avenues. Current rents for the property average $1.75 gross providing a new owner the opportunity to convert gross leases to triple net leases and increase the cap rate to a near 6% cap by keeping rents the same and just adjusting the lease structure as renewals come due. Whether an owner-user or investor, this strip center is a uniquely built property on a busy retail corridor, built for maximum visibility and exposure.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-13T09:28:56.21. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.sonyathebroker.com/homes/87481532

    5300 Arlington Avenue Riverside, CA 92504

    • Price: $2,390,000
    • Status: Active
    • Updated: 51 min ago
    • ID#: GD18224556
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.45
    Acres
    7,430
    SQFT
    $322
    $/SQFT
    1980
    Built
    Neighborhood:
    252 - Riverside
    County:
    Riverside
    Area:
    252 - Riverside
    Property Description
    We are pleased to present Arlington Plaza - a six-unit retail strip center on the 5-point signalized corner of Arlington Avenue, California Avenue & Streerer Avenue in Riverside, California. Arlington Plaza is a 7,430+- square foot, multi-tenant strip center with a mix of local and regional tenants. There is an opportunity for an owner-user to occupy the anchor space of approximately 2,700+- square feet, which is currently occupied by May Flowers. May Flowers can vacate the space at the close of escrow or sign a short term lease with a new Buyer. The remaining tenants include Fast 5 Pizza, a Beauty Salon, an Employment Agency and Metro PCS. The strip center wraps the entire corner providing over 250+GG of street frontage and allowing every tenant to have some street visibility. The subject property is clearly visible from all angles of the intersection as an estimated 40,000 vehicle pass through that intersection daily in accordance to 2017 vehicle traffic counts for California and Arlington Avenues. Current rents for the property average $1.75 gross providing a new owner the opportunity to convert gross leases to triple net leases and increase the cap rate to a near 6% cap by keeping rents the same and just adjusting the lease structure as renewals come due. Whether an owner-user or investor, this strip center is a uniquely built property on a busy retail corridor, built for maximum visibility and exposure.
    Exterior Features

    Lot Features Corner Lot Lot Size Source Assessor Lot Size Units Square Feet Parking Ratio 3.00 Parking Total 29.00

    Interior Features

    Condo Area Units Square Feet Laundry Features None

    Property Features

    Accounting Type Proforma Additional Parcels YN No Building Area Units Square Feet Building Name Arlington Plazaa Building Status Existing Cap Rate 5.76 Country Us Current Use Comments 2715 Sf Available For Occupancy. Effective Gross 191987 Gross Scheduled Income 153900.00 Investment Property YN No Land Lease YN No Land Use Retail Laundry YN No Leasable Area Units Square Feet Lease Considered YN No Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 143795.00 Number Of Units Leased 6 Occupancy Occupied Operating Expense 48192.00 Other Income1 45782.00 Property Sub Type Retail Retail Center Type Unanchored Special Listing Conditions Standard Total Monthly Rent 12822 Vacancy Allowance 7695 Vacancy Allowance Rate 5.00 Water Source Public Year Built Source Assessor Zoning Cg

    Listing provided courtesy of Krikor Garabedian of Keller Williams R. E. Services.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-13T09:28:56.21. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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