3700 Main StRiverside, CA 92501

Property Details for 3700 Main St

Year built

1940

Construction

TILT-UP CONCRETE

Lot size

0.32 AC

Property size (Sq ft)

14,700 SF

Zone code

C3

Property type

Retail space

APN

213-271-001

APU

213271001

Description

This iconic 54,000 square foot, multi-story building presents a unique adaptive reuse opportunity in Riverside's vibrant Mission District. Located on Main Street, this 1938 Art Deco structure sits on a 13,939 square foot lot and offers significant value-add potential. Currently operating at 65% occupancy with a $524,997 NOI and a 6.56% cap rate, projections show a pro-forma NOI of $774,193 and an 8.05% cap rate. The property includes eight parking spaces and is zoned C3. Current tenants include a well-established coffee shop, cafe, and bar. The building features soaring ceilings (15-20 feet) and presents an excellent opportunity for redevelopment into housing or additional retail space, leveraging the high density demographics (246,000+ within a 5-mile radius, average household income $93,471, average household retail expenditure $136,895). All tenants are month-to-month. Asking price is $8,000,000. Buyer to verify square footage.

• CAP approach

  CAP return

  Valuation

  6%

  $5,603,686

  6.5%

  $5,172,634

  7%

  $4,803,160

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,368,560

  Geo Method

  $13,038,377

• Alternative Use

  Use

  Valuation

  Residential

  $4,363,310

  Hospitality

  $3,996,768

  Educational

  $3,325,264

  Medical

  $3,439,626

  Retail

  $5,172,634

Location Insight

City

Riverside

County

Riverside

State

California

Latitude

33.9825

Longitude

-117.374

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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