$800,000
$849,000
5.8%For more information regarding the value of a property, please contact us for a free consultation.
9,583 Sqft Lot
SOLD DATE : 07/30/2024
Key Details
Sold Price $800,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID DW24076476
Sold Date 07/30/24
HOA Y/N No
Year Built 1950
Lot Size 9,583 Sqft
Property Description
Priced to sell .75 acre development site at 19620 Temescal Canyon Road in the City of Corona. The offering is composed of two adjacent parcels of land along the busy thoroughfare of Temescal Canyon Road. Site is bordered by Olive Branch Christian Academy, El Cerrito Middle School, and El Cerrito Library. Currently, there are two standalone structures needing moderate TLC that may be operated as a owner / user /residence; however, tearing down the improvements for a new commercial retail operation is the highest and best use of the subject property. The site is a stone's throw away from a vibrant mix of high-end retail at the Crossings at Corona such as Trader Joes, new luxury apartments near Dos Lagos, public transportation, easy highway access to I-15, and Dos Lagos Country Club. These retail clusters draw thousands of patrons each day that would need to drive past the site. Another advantage is the site's proximity to I-15, which draws 170,000 vehicles each day. Zoning for this property is Retail – General allowing for a broad range of indoor oriented retail sales and service, and office uses as either stand-alone businesses or as part of commercial centers or office developments. Corona is currently experiencing a post-covid economic retail boom. This site's relative location to I-15, attractive amenities at the Crossings, and Dos Lagos Country Club make it an ideal and natural acquisition for any developer. Purchase price based on internal proforma analysis and market based assumptions. Pro forma available upon request. All buyers to conduct independent due diligence.
Location
State CA
County Riverside
Area 699 - Not Defined
Interior
Heating None
Fireplace No
Laundry See Remarks
Building
Lot Description Yard
Story 1
Water See Remarks
Others
Tax ID 277122011
Financing Seller Financing
Special Listing Condition Standard
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Bought with Carrie Asher • The Herrera Group
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Broker Associate | Lic# 01398838