Shoeteria & Shops | Value-Add Opportunity with Strong… — Sale in Riverside, CA
- Price: Contact for price
- Listing type: For sale
- Asset type: Retail Business
- Location: Riverside, CA 92503
Photos
Investment Figures
- Cap rate
- 5.85%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
--BELOW-MARKET RENTS -Riverside TV & Appliance (±5,000 SF) and Rat Hole Records (±14,000 SF) Occupy ±66% of the Center on Month-to-Month Holdover, Giving a New Owner Immediate Control Over Rent Without Waiting Out Lease Terms or Buying Out Tenancies -The Two Holdover Suites Average ±$0.82 Per Square Foot Against the Anchor's $1.50 Per Square Foot in the Same Building, ±45% Below In-Place Anchor Rent With No Physical or Locational Justification for the Spread -Riverside TV & Appliance Has Operated From This Center for More Than 65 Years The Two Month-to-Month Suites Also Preserve the Flexibility to Recapture ±19,000 Contiguous Square Feet for a Single Larger User or a Repositioning, an Option Not Available in a Fully Leased Center The Shoeteria Guaranty Is Backed by Work World, a Private Equity-Sponsored Specialty Workwear Platform Operating 38 Locations Across California, Nevada, and Washington, With Shoeteria Continuing to Operate Under Its Own Banner From Its Commerce, California Headquarters MAGNOLIA AVENUE POSITION & BASIS -Less Than a Half-Mile From the Galleria at Tyler, a ±1.2 Million Square Foot Regional Mall With Roughly 170 Stores, Macy's, JCPenney, AMC Theatres, Furniture City, and ±5,700 Parking Spaces -Active Remodeling and New Development Surround the Property ±29,000 Square Feet of Improvements on ±1.10 Acres of Fee Simple Land in a Fully Built-Out Corridor, a Land Position That Provides Long-Term Optionality Beyond In-Place Income -Magnolia Avenue Is the Primary Retail Spine Through Riverside's Arlington / La Sierra Trade Area, Carrying Both Mall-Generated and Local Neighborhood Traffic ±142,570+ Residents and $102,292 Average Household Income Within Three Miles, With Magnolia Avenue Carrying 32,000] Vehicles Per Day Investment Highlights: • $176.55 Per Square Foot, Approximately 19% Below Market Average and Well Below Replacement Cost • Located Immediately Off of the 91 Freeway (280,000 Cars Per Day) Exit/Entrance • 100% Occupied Three-Tenant Cente
Market Context
This retail in Riverside, CA is listed for sale. It is offered at an approximate 5.8% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in Riverside, CA — view the full market.
As of Q1 2026, the Inland Empire retail market showed a 6.4% vacancy rate. Source: multiple brokerage reports, Q1 2026.
Retail market FAQ
- Is the Inland Empire retail market tightening or softening?
- Vacancy is around 6.4% (Q1 2026).
Contact
- Ron Duong · (949) 350-5431 · ron.duong@marcusmillichap.com
- Ronald Balys · (716) 445-7581 · ron.balys@marcusmillichap.com
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