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Key Details
Sold Price $2,950,000
Property Type Commercial
Sub Type Business
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV23198907
Sold Date 08/09/24
HOA Y/N No
Year Built 1960
Lot Size 1.340 Acres
Property Description
Excellent Owner Occupy Opportunity or Investment. Auto Dealership / Auto Repair Buildings. Class C, Retail, Auto dealership/Auto Repair Property with Improvements located in the Airport Area Submarket. Close to I-210 FWY, I-10 FWY, I-15 FWY and I-215 FWY. Near Metro Link, SB Amtrak and Ontario International Airport. Excellent Location. Foothill Traffic Counts 32,426 as of 2022 per CoStar TrafficMetrix. Rentable Buildings of 13,426 SF on a site lot totaling 58,370 SF or 1.34 Acres. Located in Prime North Fontana Commercial Strip on Foothill Blvd. Currently 61% Owner-occupied and 39% Tenant-occupied with mo/mo tenancy and has an analyzed occupancy of 100% which is above the stabilized occupancy level estimate of 95%.
Property boast ample Auto Sales Lot, Open Sales Showroom, Plenty of Office Space, Multiple Repair Buildings and Multiple Repair Bays equipped for an array of repair services including 6 hydraulic car lifts and bays for Suspension and Alignment. The Property has received new paint, new flooring and a new block wall in the back parking lot under current owner. Estimated improvement are $60,000 per owner. Property has a CUP (Conditional Use Permit) (#96-003) in place. CUP is transferable in event of sale (Buyer to verify with City) Therefore, the property represents a legal nonconforming use of the site,as improved. Inland Empire is trending favorably in Consumer Spending due to above-average job and population growth over the past three years. Source:CoStar Inland Empire Retail Market Report, 9/12/2023
Location
State CA
County San Bernardino
Area 264 - Fontana
Zoning Typical Commercial
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Fireplace No
Laundry None
Building
Lot Description Lot Over 40000 Sqft, Near Public Transit, Street Level
Story 1
Water Public
Others
Tax ID 0190201200000
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Financing Conventional
Special Listing Condition Standard
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Bought with JEHAD ABDALLAH • EMAAR ENTERPRISE