5300 Arlington Avenue

  • Riverside

  • $2,495,000
  • Acres
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Commercial Sale Details

Description & Essential
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.
Essential
MLS #GD18224556
Price Per SqFt$335.80
Sub-TypeRetail
CountyRiverside
StateCA
Area252 - Riverside
StatusActive
Sale TypeStandard
Number Of Units6
Number Of Buildings1
Building StatusExisting
Uncovered Spaces29
Land UseRetail
Listing BrokerageKeller Williams R. E. Services
Listing AgentKrikor Garabedian
Listing Agent BRE #01216376

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Based on information from California Regional Multiple Listing Service, Inc. as of Thursday, September 13, 2018. 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.