3640 Central AveRiverside, CA 92506

Property Details for 3640 Central Ave

Year built

2019

Construction

WOOD

Lot size

0.75 AC

Property size (Sq ft)

4,805 SF

Zone code

C2

Property type

Retail properties

Property subtype

Drive through restaurants

APN

225-242-051

APU

225242051

Description

This exceptional investment opportunity presents a 4,500-square-foot Chick-fil-A restaurant located at 3640 Central Ave, Riverside, CA 92506. The property boasts a 15-year absolute NNN lease with a credit-rated tenant, Chick-fil-A, commencing September 1, 2018, and expiring August 31, 2033. With approximately 8.8 years remaining on the lease term, this investment offers significant long-term stability and predictable cash flow. The property sits on a 0.75-acre lot and was built in 2018. The annual net operating income (NOI) is $181,500, resulting in a compelling 4.25% cap rate and a price per square foot of $948.89. The property benefits from its high-visibility location on Central Avenue, a major thoroughfare with over 32,200 cars daily, and convenient access to the 91 Freeway (over 89,800 cars daily). This single-tenant, ground-leased property offers a secure investment with a nationally recognized tenant and a strong track record of performance. The property's APN is 225-242-051. This is a rare opportunity to acquire a well-performing Chick-fil-A in a prime Southern California location. The low rent and small price point fundamentals create a secure income stream.

• CAP approach

  CAP return

  Valuation

  6%

  $1,941,294

  6.5%

  $1,791,964

  7%

  $1,663,966

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,124,121

  Geo Method

  $4,261,864

• Alternative Use

  Use

  Valuation

  Residential

  $1,511,589

  Hospitality

  $1,384,607

  Educational

  $1,151,977

  Medical

  $1,191,595

  Retail

  $1,791,964

Location Insight

City

Riverside

County

Riverside

State

California

Latitude

33.953

Longitude

-117.392

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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