Crescent Building | Auction August 2–5 | Downtown Riverside
Iconic Downtown Riverside Value Add Investment Opportunity
Marketing description
Scheduled for Auction August 2–5, 2026 | Property Tours July 16 from 10:00 AM–1:00 PM (Contact Listing Agents to Schedule)
Marcus & Millichap's Ovaness-Rostamian Group is pleased to present the Crescent Building, a rare value-add and redevelopment opportunity located in the heart of Downtown Riverside's Mission District, just one block from the world-renowned Mission Inn Hotel & Spa.
Situated within one of Southern California's most vibrant urban districts, the property enjoys immediate proximity to the Riverside Convention Center, museums, restaurants, nightlife, Metrolink commuter rail, and convenient access to the 91 Freeway. Downtown Riverside continues to benefit from substantial public and private investment, creating a compelling backdrop for future redevelopment.
Significant predevelopment and entitlement work has already been completed, providing incoming ownership with a defined and accelerated path toward execution. Existing plans contemplate approximately 5,900 square feet of retail storefront space, 10,000 square feet of upper-level office space, and 2,500 square feet of basement retail or storage space.
Surrounded by successful adaptive reuse projects including Imperial Lofts and Stadler Plaza, the property offers investors, developers, and owner-users multiple potential strategies, including mixed-use, hospitality, residential, office, entertainment, and other creative uses. Existing income helps offset carrying costs while ownership completes the remaining approval process.
In addition, the property may offer Historic Tax Credit and other redevelopment incentive opportunities, subject to buyer verification, creating the potential for additional value and enhanced project economics.
With flexible month-to-month tenancy, substantial predevelopment progress already achieved, and multiple potential exit strategies, the Crescent Building represents a unique opportunity to create a transformative project in the center of Downtown Riverside.
Investment highlights
Auction Opportunity – Offered Unpriced
- Auction Scheduled August 2–5, 2026
- Property Tours July 16 | 10 AM–1 PM (Contact Broker to Schedule)
Prime Downtown Riverside Mission District Location
- One Block from the Mission Inn Hotel & Spa
- Walkable to Restaurants, Nightlife, Museums, and the Convention Center
- Excellent Access to Metrolink and the 91 Freeway
Substantial Entitlement Progress Already Completed
- Significant Predevelopment Work Already Performed
- Remaining Scope and Costs Clearly Defined
- Accelerated Path Toward Final Approval
Flexible Value-Add & Redevelopment Opportunity
- Month-to-Month Tenancy Provides Immediate Repositioning Flexibility
- Existing Income Helps Offset Carrying Costs During Redevelopment
- Multiple Potential Exit Strategies
Adaptive Reuse Potential
- Ideal for Mixed-Use, Hospitality, Office, Residential, Entertainment, or Creative Uses
- Surrounded by Successful Adaptive Reuse and Revitalization Projects
Potential Historic Tax Credit & Incentive Opportunities
- Potential Eligibility for Historic Tax Credits and Other Redevelopment Incentives (Buyer to Verify)
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