5300 Arlington Avenue, Riverside, CA 92504 | MLS GD18224556 | Listing Information | Welcome to Real Living Premier Realty | Real Living Real Estate
Real Living Premier Realty
(951) 364-3100

5300 Arlington Avenue,  Riverside CA, 92504

Status: Active
MLS#: GD18224556
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Real Living Premier Realty
(951) 364-3100

Listing Provided Courtesy Of: Keller Williams R. E. Services
Last Updated: 11/20/2018 4:13 PM
Description for 5300 Arlington Avenue Riverside, CA 92504
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’ 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.
Price
$2,390,000
Riverside
GD18224556
Active
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’ 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.
Listing Information
Property Type: General Commercial, Other
1980
Neighborhood
Room Information
Interior Features
None
Exterior / Lot Features
None
CG
Driving Directions
Property is located on the corner of Arlington and California Avenues.
Financial Considerations
227100036
Listing Price History

Riverside Real Estate

Riverside is located in California. Riverside, California 92504 has a population of 322,424.

The median household income in Riverside, California 92504 is $56,089. The median household income for the surrounding county is $56,592 compared to the national median of $53,482. The median age of people living in Riverside 92504 is 30.9 years.

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Courtesy: Krikor Garabedian - Keller Williams R. E. Services
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This content last refreshed on 11/20/2018 4:13 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.

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