3700 Main Street Riverside CA 92501 | MLS SR19031441

3700 Main Street
Riverside, CA, 92501
$10,000,000
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Baths
0 SqFt
0 Acres
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OWNER WILL CARRY!!! OWNER IS MOTIVATED!!! SEE ATTACHED OFFERING MEMORANDUM & 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!

Property Details

Price:
$10,000,000
MLS #:
SR19031441
Status:
Active
Address:
3700 Main Street
Type:
Commercial
City:
Riverside
Listed Date:
Feb 8, 2019 (104 days)
State:
CA
Square Ft (approx):
0
ZIP:
92501
Year Built:
1938

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Full-time Real Estate Broker, sold 1100+ Properties in SLO and SBC County. 38 years of local real estate knowledge and experience. I understand each sale is about you and your goals. I know as we get older, we don’t have time to make up for any mistakes especially when it comes to one the most significant investments. I care about my clients and work very hard to share my knowledge and protect you along the way. I place the appropriate verbiage in the listing and listing agreement depending …

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Courtesy of Ryan McElveen. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Outland and Associates Real Estate include the name of the listing broker. Neither the listing company nor Outland and Associates Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2019. California Regional Multiple Listing Service. All rights reserved.
3700 Main Street
Riverside, CA