$ 5,300,000
2851 Canyon Springs Riverside, CA 92507
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$ 5,300,000
Est. payment | /mo
1.18 Acres Lot
$ 5,300,000
Est. payment | /mo
1.18 Acres Lot
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID EV24112982
HOA Y/N No
Year Built 2004
Lot Size 1.180 Acres
Property Description
The property sits along a busy corridor of the Interstate 60 with a Huge Pylon dedicated to this 2,000,000 +/- Square Foot Regional Retail Power Center, located at the Freeway Interchange of the I60 and the I215. This is the prime exit on the I60 coming from the east, and you can also come to the center from the south by exiting off the I215. This offering consists of two nationally branded tenants, including Verizon & GameStop, and one regionally branded tenant AhiPoki, and also Pho Ha which has more than one location. All tenants are on NNN leases, and all renewed their options, except AhiPoki (they are taking over Subway Space in July 2024, because Subway has no more options). The building is also well-suited for future leasing that can produce increase in rents over time. Brokers and tenants call regularly unsolicited, wanting to know if any leases are expiring soon so they can takeover the space. The entire power center is very low turnover, as landlord has only ever lost one tenant when Payless filed bankruptcy. Shadow Anchored by Target, the subject is Pad Building C located at the drive entrance to Target, known to be one of the most visited shopping destinations in the region. All tenants are seasoned at this location, except for AhiPoki, but even then AhiPoki has clientele in the area, because they used to be located across Day Street in the Lowes shopping center.
Location
State CA
County Riverside
Area 252 - Riverside
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry None
Exterior
Utilities Available Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Available, Water Connected
Present Use Commercial
Building
Lot Description Level
Story 1
Water Public
Others
Tax ID 291600041
Security Features Security System,Fire Sprinkler System,Security Lights
Acceptable Financing Cash, Cash to New Loan, Submit
Listing Terms Cash, Cash to New Loan, Submit
Special Listing Condition Standard
Listed by BRAD FREEMAN • FREEMAN & ASSOCIATES
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Kris Rainwaters
REALTOR® | Lic# 02111780