89 N San Gorgonio AVE, Banning, CA 92220
89 N San Gorgonio AVE, Banning, CA 92220
89 N San Gorgonio AVE, Banning, CA 92220
89 N San Gorgonio AVE, Banning, CA 92220
89 N San Gorgonio AVE, Banning, CA 92220
89 N San Gorgonio AVE, Banning, CA 92220
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$ 769,000
Est. payment | /mo

6,098 Sqft Lot


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$ 769,000
Est. payment | /mo
Save

6,098 Sqft Lot

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

MLS Listing ID IG26202415

HOA Y/N No

Year Built 1964

Lot Size 6,098 Sqft

Property Sub-Type Retail

Property Description

Downtown Banning Value-Add Investment Opportunity | 5-Unit Freestanding Commercial Building + Adjacent Excess Lot | Opportunity Zone. Strategically positioned in Banning's established Downtown Commercial District, 89 N. San Gorgonio Avenue presents a unique value-add investment opportunity consisting of a freestanding 3600sf commercial building configured into five individual units, together with an adjacent excess lot for a combined 6097sf/.14ac site. The property is currently occupied by a diverse mix of commercial and residential uses, including a street front candy shop, barber shop, engineering office, one vacant office/retail suite, and a 2nd floor studio apartment. All units are currently leased on a month-to-month basis, providing an investor or owner/user with flexibility to improve rents, reposition the property or stabilize occupancy.
The adjacent parcel adds additional value and flexibility, featuring drought tolerant landscaping and a distinctive wall mural that contributes to the property's downtown character and street presence. A nicely updated property; surrounded by civic, retail, dining and service-oriented businesses. The City of Banning has recently adopted a Downtown Revitalization and Complete Streets Plan intended to enhance circulation, pedestrian connectivity, streetscape improvements and the public realm while establishing a framework to encourage new investment and redevelopment throughout the downtown area over the coming years. Buyer to verify own zoning/use with City of Banning. Please inquire with listing agent as to requests for showing and for financial information.

Location

State CA

County Riverside

Area 263 - Banning/Beaumont/Cherry Valley

Zoning DC

Interior

Heating Central, None

Cooling Central Air

Fireplace No

Laundry None

Exterior

Fence Wood

Community Features Park

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

Roof Type Tile

Building

Lot Description 2-5 Units/Acre, Corner Lot, Level, Near Park, Near Public Transit, Rectangular Lot, Street Level, Walkstreet

Story 2

Water Public

Others

Tax ID 540168003

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange, Submit

Listing Terms Cash, Cash to New Loan, 1031 Exchange, Submit

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Teri Alvarez KELLER WILLIAMS REALTY 909-330-8123, DRE #01498790
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Peter Lorimer

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89 N San Gorgonio AVE