0 Bay Ave And Moreno Bch DrMoreno Valley, CA 92555

Property Details for 0 Bay Ave And Moreno Bch Dr

Lot size

21.19 AC

Property type

Other commercial real estate

Property subtype

Other land

Description

This exceptional 21.19-acre commercial land parcel, located in Moreno Valley, California, presents a remarkable investment opportunity. Situated at the intersection of Bay Avenue and Moreno Beach Drive (zip code 92555), this fee-simple property boasts a Community Commercial District (CC) zoning designation. The property's APN is 478-060-004, 016, 017, 018, 019, 022, 023 & 024. Currently, entitlements are in place for a 499-unit multi-family housing development. This prime location benefits significantly from recent infrastructure improvements, including the completion of a new freeway interchange on Moreno Beach Drive in 2024. Moreno Valley's robust economic growth is evident in the creation of over 30,000 jobs in the past decade, with an additional 20,000 jobs anticipated from the upcoming World Logistics Center (WLC) project, slated to begin construction in 2025. The property's proximity to major employers further enhances its value. These include the Riverside University Health System Medical Center (6,000 employees, $1.6 billion economic impact) and the expanding Kaiser Medical Center project, which will add 1,125,000 square feet of medical services and create 4,000 new jobs. The WLC project alone is projected to generate a $2 billion annual economic benefit. This property offers unparalleled potential for significant returns in a rapidly growing market.

Location Insight

City

Moreno Valley

County

Riverside

State

California

Latitude

33.9174

Longitude

-117.174

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