Homes for sale - 2851 Canyon Springs, Riverside, CA 92507

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Candice Blair

candice@candiceblairgroup.com +1(949) 466-0620

$ 5,300,000

Est. payment -/mo

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Active

2851 Canyon Springs Riverside, CA 92507

8,326 SqFt

UPDATED:

12/12/2024 08:16 PM

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Square Footage 8,326 sqft

Price per Sqft $636

MLS Listing ID EV24112982

HOA Y/N No

Year Built 2004

Lot Size 1.180 Acres

Acres 1.18

Property Description

The property sits along a busy corridor of the Interstate 60 with a Huge Pylon dedicated to this 2,000,000 +/- Square Foot Regional Retail Power Center, located at the Freeway Interchange of the I60 and the I215. This is the prime exit on the I60 coming from the east, and you can also come to the center from the south by exiting off the I215. This offering consists of two nationally branded tenants, including Verizon & GameStop, and one regionally branded tenant AhiPoki, and also Pho Ha which has more than one location. All tenants are on NNN leases, and all renewed their options, except AhiPoki (they are taking over Subway Space in July 2024, because Subway has no more options). The building is also well-suited for future leasing that can produce increase in rents over time. Brokers and tenants call regularly unsolicited, wanting to know if any leases are expiring soon so they can takeover the space. The entire power center is very low turnover, as landlord has only ever lost one tenant when Payless filed bankruptcy. Shadow Anchored by Target, the subject is Pad Building C located at the drive entrance to Target, known to be one of the most visited shopping destinations in the region. All tenants are seasoned at this location, except for AhiPoki, but even then AhiPoki has clientele in the area, because they used to be located across Day Street in the Lowes shopping center.

Location

State CA

County Riverside

Area 252 - Riverside

Interior

Heating Central

Cooling Central Air

Laundry None

Exterior

Utilities Available Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Available, Water Connected

Building

Lot Description Level

Story 1

Water Public

Others

Security Features Fire Sprinkler System,Security Lights,Security System

Special Listing Condition Standard

Confidential INFO

TERMS Cash,Cash To New Loan,Submit

LIST AGRMT Exclusive Right To Sell

LIST SERVICE Full Service

SHOW CONTACT TYPE Agent

SHOW CONTACT NAME Brad Freeman

SHOW CONTACT PH 661-201-7868

SHOW INSTRUCTIONS Do not go direct. Please contact Brad Freeman for an appointment. 661-201-7868

Listed by FREEMAN & ASSOCIATES

Candice Blair

Broker Associate | License ID: 01395953 ‌

+1(949) 466-0620

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