5300 Arlington Avenue
Riverside, CA 92504

$2,225,000

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. The tenants include Fast 5 Pizza, a Beauty Salon, an Employment Agency, May Flowers and Metro PCS. The strip center wraps the entire corner providing over 250 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 above a 7.0% cap with various rental increases and converting to NNN as renewals come due. This unique strip center is a uniquely built property on a busy retail corridor for maximum visibility and exposure.

Details

MLS#GD18224556
StyleRetail
Sub-TypeResale
StatusActive
Year1980
Days On Site45

Features

SQ Feet7,430
Story(s)1
Units6
ZoningCG

Market Activity 92504

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Area Information

StateCA
CountyRiverside
CityRiverside
Zip Code92504
Area252 - Riverside
Listing VS Median (in 92504)
Price:
$2,225,000
low | high
Med:
$389,000
100% of Average
SqFt:
7,430
low | high
Med:
1,618
100% of Average
$ / SqFt:
$299
low | high
Med:
$240
69.715837280038% of Average
On Site:
45
low | high
Med:
33
100% of Average
Nearby Listings (Within 1/2 mile)
Price: $0 - $0
SqFt: 5,500 - 9,000
Listing Updated: 02/18/2019
MLS Number: GD18224556
Listing Provided By:
Krikor Garabedian  of  Keller Williams R. E. Services
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.