4141 RIVERSIDE DR Chino CA 91710-3183

Progressive Real Estate Partners is pleased to present the Chino Village Center, located at the signalized corner of Riverside Dr and Pipeline Ave. This unique value-add opportunity consists of a single parcel that features a strip retail building, two pad buildings (one a Wienerschnitzel; and one a multi-tenant building containing a Jiffy Lube), and approximately 2.5 acres of land that can be developed for an array of uses, including retail, office, and residential development at a density of 30 units per acre. The asset is 100% leased to long-term tenants, sits just over a mile from CA-60 and CA-71, and is situated in an area with minimal competition.

• Development Opportunity: This property offers a unique opportunity for a buyer to develop ±2.5 acres of raw land to expand the center, by adding retail, office, or residences and increase frontage along Riverside Drive. On June 7, 2022, the City of Chino voted to pass Measure Y which allows residential development to take place on several parcels of land throughout the City, including the strawberry farm that is a part of this offering. The required density for construction would be approximately 30 units per acre.

• Value-Add Opportunity: Many of the tenants are paying below-market rents and are on gross leases, offering a new owner the opportunity to raise rents over time.

• Long-Term Tenancy: The tenants have an average tenure of 15 years at the center, with only three spaces turning over in the past ten years.

• Several Nationally Recognizable Tenants: This center is home to multiple well-known tenants that have strong brand recognition on a national level.

• Pride of Ownership: The property is very well maintained and the owner has spent over $100,000 in the past four years on ADA work and capital improvements, including a new slurry seal and re-stripe in March 2022.

• Diverse Income Stream: The income generated from the shopping center is spread out amongst 13 tenants, with no individual tenant accounting for more than 20% of the monthly income.

• Strong Demographics: The property’s Chino location boasts an average household income near $100,000 within a five-mile radius.

• Located at a Signalized Junction: Chino Village is at the SE corner of Riverside Dr & Pipeline Ave with four access points.

• High Visibility: The property has ±380 feet of frontage with the potential to add an additional ±200 feet along Riverside Dr.

• Close Proximity to 2 Major Freeways: This center is located less than 2 miles from State Route 60 (to the North) and State Route 71 (to the West).

• Flexible Zoning: CN (Neighborhood Commercial) zoning allows for a variety of permitted uses, further enhancing the value-add potential of this center. The City of Chino passed Measure Y in June 2022, allowing residential development on the land portion at a density of 30 units per acre.