4398 Park AveRiverside, CA 92507

Property Details for 4398 Park Ave

Year built

1776

Lot size

0.04 AC

Property size (Sq ft)

1,280 SF

Zone code

C2

Property type

Retail space

APN

211-234-006

APU

211234006

Description

This 2,000 square foot warehouse, situated on a 0.05-acre lot at 4398 Park Avenue in Riverside, CA 92507, presents a compelling investment opportunity. Located on a corner lot at the intersection of Park Avenue and 14th Street, this property benefits from high visibility and significant traffic volume due to its proximity to the busy 14th Street and a convenient location approximately half a mile from the 91 freeway. A traffic signal at the intersection ensures excellent accessibility. Ample street parking is available. The property is currently leased on a month-to-month basis to a fellowship group. This presents an ideal scenario for an owner-user seeking a high-traffic location to operate their business. The property is zoned commercial and is situated within a transit corridor. An adjacent property is also available for purchase for an additional $599,999, offering the potential for combined ownership and use, such as living in one property and operating a business in the other. The seller is open to financing options. This is a rare opportunity to acquire a well-located commercial warehouse in a thriving Riverside area.

• CAP approach

  CAP return

  Valuation

  6%

  $517,140

  6.5%

  $477,360

  7%

  $443,263

• Comparable approach

  Method

  Valuation

  Relative Method

  $565,843

  Geo Method

  $1,135,314

• Alternative Use

  Use

  Valuation

  Residential

  $402,671

  Hospitality

  $368,844

  Educational

  $306,874

  Medical

  $317,428

  Retail

  $477,360

Location Insight

City

Riverside

County

Riverside

State

California

Latitude

33.9716

Longitude

-117.368

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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