New Listing89 N San Gorgonio Avenue,Banning, CA 92220
Banning, CA 92220
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.
Details
| MLS # | IG26202415 |
|---|---|
| Listing Type | For Sale |
| Style | Retail |
| Sub-Type | Resale |
| Status | Active |
| Year | 1964 |
| Days On Site | 6 |
| Listing Provided By | KELLER WILLIAMS REALTY | Teri Alvarez |
Features
| SQ Feet | 3,600 |
|---|---|
| Story(s) | 2 |
| Building(s) | 1 |
| Zoning | DC |
| Acreage | 0.14 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central, None |
| Heating Yes / No | No |
| Cooling Yes / No | Yes |
Exterior
| Roof | Tile |
|---|---|
| Construction Materials | Concrete, Stucco |
| Lot Features | Two To Five Units Acre, Corner Lot, Level, Near Park, Near Public Transit, Rectangular Lot, Street Level, Walkstreet |
| Fencing | Wood |
Utilities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|
Location
| Community Features | Park |
|---|
Area Information
| State | CA |
|---|---|
| County | Riverside |
| City | Banning |
| Zip Code | 92220 |
| Area | 263 Banning | Beaumont | Cherry Valley |
| Listing VS Median (in 92220) | |
Price: $769,000 low | high Med: $688,000 sqft: 3,600 low | high Med: 6,400 $ / sqft: $214 low | high Med: $108 On site: 6 low | high Med: 89 | |
Market Activity 92220
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Learn More About This Property
| State | CA |
|---|---|
| County | Riverside |
| City | Banning |
| Zip Code | 92220 |
| Area | 263 Banning | Beaumont | Cherry Valley |
| Listing VS Median (in 92220) | |
Price: $769,000 low | high Med: $688,000 sqft: 3,600 low | high Med: 6,400 $ / sqft: $214 low | high Med: $108 On site: 6 low | high Med: 89 | |
 | $1,250,000116 W Ramsey StreetBanning, CA 92220 |