3700 Main Street, Riverside, CA 92501

$10,000,000
54,000
SqFt
List Price
$10,000,000
Status
ACTIVE
MLS#
SR19031441
Year Built
1938
Living Sq. Ft
54,000
Days on Market
74
Property Type
Commercial
Property Sub Type
Retail
Days on Market
25

Property Description

OWNER WILL CARRY!!! OWNER IS MOTIVATED!!! SEE ATTACHED SUPPLEMENTS: PRO FORMA 13.89% CAP RATE WITH ROOFTOP LOUNGE & PRO FORMA 8.66% CAP RATE WITHOUT ROOFTOP LOUNGE!!! Welcome To The Mission Galleria! Formerly Sears Building & Registered As A Historic Building, This Is A Huge Opportunity In Downtown Riverside Directly Across From Mission Inn! Be A Part Of A Developer's Dream Like Imperial Hardware Lofts & Stalder Plaza! Become An Owner-User Of An Entire 54,000 Square Foot Retail Building Or Purchase As A Value-Add Investment! Owner Is Willing To Carry With $3,000,000 Down Payment For The Right Buyer! Seller Is Proposing A New 14,700 Square Foot Rooftop Lounge/Restaurant/Bar To The City Of Riverside & $1,500,000 In Budgeted Costs For The Project! City Of Riverside Has Already Appraised The Building At $7,500,000 Several Years Ago Without The New Rooftop Development! Also Available For Lease! Existing Month-To-Month Tenants Paying $2.40/SF Up To $3.00/SF Triple-Net Plus 12% Of Gross Sales. Tenants Include Hideaway Bar & Mission Galleria Antique Shop & Existing Tenants Can Stay Or Leave! Building Has 4 Floors & Hideaway Bar In The Basement Grosses $1,500,000 In Annual Sales! Be Apart Of The Newly Renovated Downtown Riverside Empire!

Additional Information

Water
Public

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Ryan McElveen from Ryan McElveen

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.