2305 Chicago AveRiverside, CA 92507

Property Details for 2305 Chicago Ave

Year built

1987

Construction

TILT-UP CONCRETE

Lot size

0.52 AC

Property size (Sq ft)

7,345 SF

Zone code

R106

Property type

Office properties

Property subtype

Office buildings

APN

210-140-008

APU

210140008

Description

This exceptional commercial property, located at 2305 Chicago Avenue in Riverside, California (zip code 92507), presents a unique investment opportunity. Situated on the corner of Spruce Street and Chicago Avenue, this single-story building offers unparalleled visibility and curb appeal. The 7,345 square foot space features a remodeled interior with open office space, divided by half-walls, and currently configured with 12 desks. The layout includes 18 individual offices, two kitchens (without gas or dishwashers), and three ADA-compliant bathrooms. A large conference room provides ample space for meetings and presentations. Secure parking is a significant advantage, with 27 spaces, including two handicapped-accessible spots, all accessed via an automatic gate with remote and keypad entry. The property is zoned BMP, offering flexibility for a variety of commercial uses. This high-visibility location, combined with the substantial square footage and ample parking, makes this property an ideal investment for businesses seeking a prominent Riverside presence. The property is priced at $1,850,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,903,538

  6.5%

  $1,757,112

  7%

  $1,631,604

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,262,473

  Geo Method

  $2,585,220

• Alternative Use

  Use

  Valuation

  Residential

  $2,178,819

  Hospitality

  $1,995,786

  Educational

  $1,660,471

  Medical

  $1,717,577

  Retail

  $2,582,955

Location Insight

City

Riverside

County

Riverside

State

California

Latitude

33.99

Longitude

-117.349

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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