Mission Lake Center
3600 Lime St
Riverside, CA 92501
| Price: |
$19,500,000 |
| CAP Rate: |
6.52% |
| Building Size: |
82,030 SF |
| Approx Lot Size: |
5.11 Acre(s) |
| Year Built: |
1984 |
Net Lease
Investment: |
Yes |
| Existing Debt: |
Yes |
| Property On Ground Lease: |
Yes |
| 1031 Exchanges Acceptable: |
Yes |
Property Features- Prestigious Mission Inn District
- Excellent Freeway Access and Visibility
- Completely Refurbished in 2004
- Vacancy Rate of 6% in Downtown Riverside
- Free Surface Parking
- Lake, waterfalls, courtyards, and lush landscaping
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Property Description
Completely refurbished in 2004, this suburban office complex comprised of seven garden style office buildings and one freestanding restaurant in a lush lakeside setting is the perfect solution for any investor in search of stabilized investments.
At its 95% occupancy, the cap rate is 6.52% with many of the leases being below market rates.
With downtown Riverside office vacancy at only 6%, this is the ONLY garden office project and the ONLY property of any size that offers free surface parking. Mission Lake Center is an all-time cash cow and an irreplaceable asset.
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