6876 Magnolia Avenue, Riverside (City), 92506

REDUCED 11% Commercial - Retail For Sale

$1,700,000

Beds
Baths
Sqft
.94Acres
Built
160DOM
MLS® #: CV20016182
Active, 160 Days on Market

Progressive Real Estate Partners is proud to present the opportunity to acquire an 8,633 SF former bank building located along Magnolia Avenue, one of Riverside’s primary office/commercial corridors. With visibility to over 21,560 cars per day and a 3-mile population of 114,593 investors and business operators can benefit from acquiring a well maintained asset that can house their business while also providing an opportunity for leased income. ±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: • 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: • Upgraded exterior lighting • New exterior paint • New security gates Click link for property video: https://spark.adobe.com/video/uf6ym9pNfuj4M

Essential Information

MLS® #: CV20016182
Price: $1,700,000
Acres: 0.94
Type: Commercial
Sub-Type: Retail
Status: Active

Community Information

Address: 6876 Magnolia Avenue
Area: Riverside (252)
City: Riverside (City)
County: Riverside
State: CA
Zip Code: 92506

Exterior

Lot Description: Lot Over 40000 Sqft

Additional Information

Date Listed: December 27th, 2019
Days on Market: 160

Listing Details

Listing Agent: Brad Umansky(01137100)
Listing Office: PROGRESSIVE R. E. PARTNERS

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2020 San Diego MLS®, Inc.

Listing information last updated on June 5th, 2020 at 11:00am PDT.

Based on information from California Regional Multiple Listing Service, Inc. as of June 5th, 2020 at 11:12am PDT. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.