For Sale
$5,170,000

19 Citrus AveRedlands, CA 92373

Prime Downtown Location, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
119
This exceptional multi-tenant retail property, the historic Cope Building, offers 21,151 square feet of net rentable space in the heart of downtown Redlands, CA. Boasting a desirable mix of e-commerce resistant tenants—including QSR/fast food, restaurants, and service businesses—this investment opportunity presents a strong, stable income stream. 53% of the occupied space has been operational for over eight years, contributing to a substantial net operating income (NOI) of $387,749 and a 7.50% cap rate. The building, constructed in 1903, sits on a 0.22-acre lot on Citrus Avenue, a highly walkable area with a Walkscore of 90, placing it in a thriving dining and nightlife district adjacent to the popular "Umbrella Alley." Its prime location benefits from excellent accessibility, with proximity to the 10 and 210 freeways and a short walk from the Metrolink station, providing convenient access to Los Angeles and San Bernardino. Furthermore, its location near the University of Redlands serves a dense, affluent demographic with average household incomes exceeding $115,000 within a 5-mile radius. This is an irreplaceable opportunity to acquire a historically significant, high-performing retail asset in a vibrant and growing market. The asking price is $5,170,000.

Highlights

  • Prime retail investment opportunity in downtown Redlands, CA; 21,151 square feet; historic Cope Building.
  • E-commerce resistant tenant mix: Ground floor features service and food/restaurant tenants; upper floors house service and professional offices.
  • Stable tenancy: 53% of occupied space has been in operation for 8+ years.
  • Located in historic downtown Redlands, a destination shopping area with boutique shops and gourmet restaurants.
  • Excellent walkable location on Citrus Avenue, adjacent to Orange Street Alley ("Umbrella Alley"), in a thriving dining and nightlife district; 90 Walk Score.
  • Excellent freeway access via the 10 and 210 freeways.

Property Details for 19 Citrus Ave

Property type
Retail properties, Restaurants
Year Built
1903
Lot Size (sq. ft)
9,583 SF

Location Insight

City
Redlands
County
San Bernardino
State
California
Latitude
34.0558148
Longitude
-117.1819225
19 Citrus Ave, Redlands, California

FAQs

What type of property is this?
Retail property - Prime Downtown Location, High NOI
Where is the retail property located?
The property is located at 19 Citrus Ave Redlands, CA.
What is the asking price?
The asking price for this property is $5,170,000.
What are key features of this property?
This property features: Prime retail investment opportunity in downtown Redlands, CA; 21,151 square feet; historic Cope Building.; E-commerce resistant tenant mix: Ground floor features service and food/restaurant tenants; upper floors house service and professional offices.; Stable tenancy: 53% of occupied space has been in operation for 8+ years.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
19 Citrus Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message