89 N San Gorgonio Avenue, Banning, CA 92220
List Price: $769K
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms
Property Type: CommercialSale
Year Built: 1964
Lot Size: 6,097 sq ft
MLS Number: IG26202415
About This Property
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.
Listing provided by: Teri Alvarez DRE #01498790 909-793-2100 info@sqftlocal.com,