What is the asking price for 100% Leased Multi-Tenant Commercial Property?

The lease rate for space here is Contact for pricing.

What is the total size of 100% Leased Multi-Tenant Commercial Property?

The property has a total square footage of 20,122 SF.

How many parking spaces are available at 100% Leased Multi-Tenant Commercial Property?

Parking information for the property isn't currently listed. However, other nearby parking options include ER Parking, located 1.95 miles away , and Fontana Metrolink Plaza, which is 3.90 miles away.

219-231 South Riverside Avenue, Rialto, CA 92376

For Sale $3,999,000
Property Type Retail - Street Retail
Property Size 20,122 SF
Date Updated Jun 26, 2026

Description

Positioned within the Foothill Central Specific Plan, allowing for residential mixed-use redevelopment at 20–40 units per acre, building heights up to 5 stories (60 feet), and benefiting from AB 2097 which eliminates parking minimums. Located just a 3-minute walk to the Rialto Metrolink Station, enhancing long-term transit-oriented development potential.Progressive Real Estate Partners is proud to present the opportunity to acquire a Downtown Rialto Multi-Tenant Commercial Center located along Riverside Avenue, Rialto’s primary north-south corridor between the 210 and 10 Freeways. The property consists of ±20,122 SF situated on ±1.35 acres across five separate parcels. Improvements include 8 street-front retail units, 27 incubator-style office suites, 1 flex warehouse unit with a loading dock, and a separately parceled single-family residence – totaling 37 units occupied by 30+ tenants. The asset is 95% leased and offers a 7.86% cap rate on in-place income at $199/SF, well below replacement cost. No tenant represents more than 8% of total income, providing strong diversification and insulation from vacancy risk. The incubator office suites, averaging under 250 SF, maintain consistent occupancy due to affordability, limited competing product, and flexible zoning that supports a broad range of uses. The property includes ±51 dedicated on-site parking supplemented by street-front parking, broadening the appeal to potential tenants and enhancing the value of the asset.

Highlights

Built-In Rent Growth – Leases include embedded CPI or 3% annual increases, providing a hedge against inflation.
Dedicated On-Site Parking – The property features ±51 dedicated on-site parking stalls supplemented by street-front parking, broadening the appeal to potential tenants and enhancing the value of the asset.
Dense Trade Area – Approximately 160,000 residents within a 3-mile radius and average household income of about $90,400 within a 1-mile radius.
Existing Tenant Waitlist – Demonstrates ongoing demand for small-format suites and supports leasing continuity upon ownership transition.
Flexible Zoning Allowing Specialized Uses – The property’s Downtown Mixed-Use (DMUZ) zoning permits a wide variety of uses including general offices, medical offices, personal services (salons, beauty), automotive brokers/wholesalers, and more.
Fully NNN-Leased Asset – Tenants proportionately reimburse all operating expenses, including property taxes, insurance, and CAM, minimizing landlord exposure.
Highly Diversified Rent Roll – 30+ tenants with no single tenant exceeding 8% of total income, minimizing concentration risk.
High-Yield 7.86% Cap Rate in In-Place Income
Limited Competing Product – Few comparable small-format office suites in the market and no new supply in the development pipeline.
Low, Replaceable Rents – Current rents average $1.52/SF/M, positioned at or below market levels, offering investors limited downside risk and meaningful upside potential as leases renew and reset closer to market over time.
Recent Capital Improvements – Upgrades include new roofs, parking lot slurry seal and striping, new HVAC units, interior paint, new flooring, and full renovation of Unit 225-10 (±3,500 SF).
Smaller, Easier-to-Lease Incubator Suites – 27 office suites averaging under 250 SF (majority 125–400 SF), reducing exposure to large-space vacancy.