1533 Spruce StRiverside, CA 92507

  • Office properties
  • 24,164 SF
For Lease
$2.20/SF/YR View listing

Property Details for 1533 Spruce St

Year built
1987
Construction
STEEL FRAME
Lot size
1.13 AC
Property size (Sq ft)
24,164 SF
Zone code
MPBP
Property type
Office properties
Property subtype
Office buildings
APN
249-120-018
APU
249120018

Description

Spruce Commons, located at 1533 Spruce Street in Riverside, CA 92507, offers 19,692 square feet of immediately available flex and warehouse space for lease. This multi-tenant property, totaling 24,025 square feet, sits on a 1.13-acre lot and features a three-story building constructed in 1986. Units range from a minimum of 1,123 square feet to a maximum contiguous space of 6,266 square feet, providing flexibility for a variety of business needs. The building includes elevators for convenient access to all three floors. The property's classification as both office and industrial space makes it ideal for businesses requiring a blend of office and warehouse functionality. Its location in Riverside County offers easy access to major transportation routes, making it a strategic location for distribution and operations. The property is currently vacant, presenting a unique opportunity for a single tenant to occupy a significant portion of the building or for multiple tenants to lease individual units. This versatile space is perfect for companies seeking a blend of office and warehouse space in a convenient Riverside location. Inquire today to learn more about leasing opportunities at Spruce Commons.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $6,262,186
    6.5%
    $5,780,480
    7%
    $5,367,588
  • Comparable approach

    Method
    Valuation
    Relative Method
    $4,153,316
    Geo Method
    $8,505,003
  • Alternative Use

    Use
    Valuation
    Residential
    $7,167,794
    Hospitality
    $6,565,662
    Educational
    $5,462,553
    Medical
    $5,650,419
    Retail
    $8,497,305
1533 Spruce St, Riverside, California

Location Insight

City
Riverside
County
Riverside
State
California
Latitude
33.9907
Longitude
-117.345
CBSA code
40140
CBSA name
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$31,789
$527,521
$2,356,698
$2,884,219
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