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50 N 1st St 6,400 SF Retail Building Banning, CA 92220 $1,084,706 CAD ($169.49 CAD/SF)
Investment Highlights
- 60+ Public Parking Spaces in Front of Property
- Near 2 Freeway Entrances
- Zoned Downtown Commercial Which Allows a Multitude of Uses
- Near City Hall and Other Major Developments
Executive Summary
6,400 sq. ft. building centrally located in Historic Downtown Banning with easy access to the 10 FWY. Walking distance to Banning City Hall, County of Riverside offices, Superior Court, shopping, dining and the historic Fox Theater.
The property has a very tall facade (Great for signage and marketing) and high ceilings to match. The property has access to 60+ public parking spots on 1st Street as well as alley access in the back. Currently there is a month to month tenant operating a flooring store that can be given notice if wanted. Zoned Downtown Commercial (DC).
Major new developments coming to the area including Vista Robles by KB Home: A new development on 65 acres, Atwell (Tri Pointe Homes): A massive master-planned community, Canterbury by Crestwood Communities: A large-lot neighborhood, and a new Wyndham hotel. All of these new projects will increase demand for retail and services in Downtown. Approximately 100,000 cars cross the 10 FWY by Banning exits on a daily basis. Banning high school is just across the freeway.
The property has a very tall facade (Great for signage and marketing) and high ceilings to match. The property has access to 60+ public parking spots on 1st Street as well as alley access in the back. Currently there is a month to month tenant operating a flooring store that can be given notice if wanted. Zoned Downtown Commercial (DC).
Major new developments coming to the area including Vista Robles by KB Home: A new development on 65 acres, Atwell (Tri Pointe Homes): A massive master-planned community, Canterbury by Crestwood Communities: A large-lot neighborhood, and a new Wyndham hotel. All of these new projects will increase demand for retail and services in Downtown. Approximately 100,000 cars cross the 10 FWY by Banning exits on a daily basis. Banning high school is just across the freeway.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
6,400 SF
Building Class
B
Year Built
1940
Price
$1,084,706 CAD
Price Per SF
$169.49 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.98
Lot Size
0.15 AC
Opportunity Zone
Yes
Zoning
CD - CD - Commercial Downtown
https://library.municode.com/ca/banning/codes/code_of_ordinances?nodeId=TIT17ZO_DIVIILAUSDI_CH17.12COINDI_ARTIILAUSDIDEST_17
Frontage
58’ on N 1st St
Amenities
- 24 Hour Access
- Signage
- Storage Space
Moderately walkable
70/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 540-168-005 | Improvements Assessment | $552,018 CAD |
| Land Assessment | $104,000 CAD | Total Assessment | $656,018 CAD |
Property Taxes
Parcel Number
540-168-005
Land Assessment
$104,000 CAD
Improvements Assessment
$552,018 CAD
Total Assessment
$656,018 CAD
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50 N 1st St
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