109 Mckinley StCorona, CA 92879

Property Details for 109 Mckinley St

Year built

1990

Construction

TILT-UP CONCRETE

Lot size

4.28 AC

Property size (Sq ft)

54,758 SF

Zone code

R106

Property type

Grocery and convenience stores

APN

172-050-006

APU

172050006

Description

This exceptional 55,000-square-foot retail property, located at 109 N McKinley Street in Corona, California (zip code 92879), presents a unique investment opportunity. The single-tenant building, constructed in 1990, boasts ample parking with 255 spaces. Its convenient location offers excellent accessibility, situated directly off McKinley Street and the 91 Freeway, with the added benefit of proximity to the 15 Freeway (just 2 miles east). The property features a supermarket/storefront configuration, ideal for a variety of retail uses. Currently undergoing renovations, the office and mezzanine areas are being updated to enhance functionality and appeal. A significant advantage is the ongoing city construction project, the McKinley Street Grade Separation, scheduled for completion in 2024. This project is expected to dramatically improve visibility and accessibility to the property, increasing its overall value and attracting a wider range of potential tenants. The property's APN is 172050006. This is a rare opportunity to acquire a substantial retail space in a rapidly growing area with significant future development potential. The building does not include elevators. The property is available for sale or lease.

• CAP approach

  CAP return

  Valuation

  6%

  $22,123,078

  6.5%

  $20,421,302

  7%

  $18,962,638

• Comparable approach

  Method

  Valuation

  Relative Method

  $24,206,578

  Geo Method

  $48,568,396

• Alternative Use

  Use

  Valuation

  Residential

  $17,226,132

  Hospitality

  $15,779,045

  Educational

  $13,127,980

  Medical

  $13,579,472

  Retail

  $20,421,302

Location Insight

City

Corona

County

Riverside

State

California

Latitude

33.8832

Longitude

-117.514

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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