Retail•Street Retail•For Sale

6876 Magnolia Ave

6876 Magnolia Avenue, Riverside, California 92506

Sale Price $1,700,000
Sale Type Owner User
Class B
Gross Bldg 8,633 SqFt
Land Area .94 Acres
• ±8,633 SF fully improved former bank building • 4 total buildings with shared courtyard space • Dedicated parking field with ample 5.5:1000 parking ratio (48 total spaces) • Well situated for a variety of uses including: o Medical, accounting, financial planning, insurance, law firm, educational, and more • Opportunity to take advantage of financing from the Small Business Administration at record low rates. Typically requiring a down payment of as little as 10% to 15%, an owner-user could own and occupy this building for as little as $0.95/SF/MO and eventually own the building free and clear. • Recent improvements include: o Upgraded exterior lighting o New exterior paint o New security gates . • Situated along Magnolia Avenue, one of Riverside's most prominent office/medical/commercial corridors: o 21,560 cars per day o 120 feet of frontage • Strong 3-Mile Demographics: o 114,595 residents o 51,898 daytime population o $86,165 average incomes • Traffic generators in the area include: o Riverside Community College (1.8 miles; 20,605+ students enrolled) o California Baptist University (2.1 miles; 11,000+ students enrolled) o Riverside Community Hospital (2.2 miles; 373-bed facility + largest Emergency Room/Trauma Center in the Inland Empire) o Parkview Community Hospital (2.8 miles; 193 bed acute care hospital)
1/21/2020 12:00:00 AM 7/4/2020 12:05:59 AM
Roxy Klein
Retail Sales & Leasing Specialist
Progressive Real Estate Partners
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