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3695 Central AVE Riverside, CA 92506
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Key Details
Sold Price $2,199,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW22069905
Tax Year 2022
Property Sub-Type Retail
Property Description
Pleased to present a single tenant absolute NNN leased investment (fee simple interest) occupied by Wienerschnitzel with a lease term through August 31, 2031 in Riverside, California. The Galardi Group signed an original lease in 1988 and has recently negotiated a 10-year extension maintaining their presence a this location for years to come. In addition to extending the lease by 10-years there are 2, fixed 5-year option periods potentially extending the term through August 31, 2041. The subject property includes an approximate 976 SF drive-thru building on a 13,504 SF lot near the intersection of Magnolia Avenue and Central Avenue. This is a one of the kind opportunity to purchase an absolute NNN investment property located in the City of Riverside on a long term, corporate-backed, lease with outstanding operating history.
Location
State CA
County Riverside
Area 252 - Riverside
Zoning Commercial General
Interior
Laundry None
Exterior
Utilities Available Water Not Available
Building
Lot Description Flat
Water None
Others
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Bought with KEMAI MIKE LI MIKE REALTY
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