Skip to main content

Office Vacant-User

Citrus Woods Corporate Center

501 Queensland Cir & 510 Princeland Court, Corona, CA 92879

Listing Price: $2,800,000

Gross SF
10,061
Rentable SF
10,061
Price/Gross SF
$278.30
Lot Size
0.23 acres
Year Built
2007

Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to present the Citrus Woods Corporate Center located in Corona, California. The city is located along the western edge of Southern California’s Inland Empire region adjacent to Orange County. Corona is one of the most residential cities in the Inland Empire, but also has a large industrial portion on the northern half, being the headquarters of companies such as Fender Musical Instruments, Monster Beverage Corp., Lucas Oil Products and supercar manufacturer Saleen. As of the 2010 census, the city had a population of 152,374 residents. The cities of Norco and Riverside lie to the north and northeast, Chino Hills and Yorba Linda to the northwest, and the Cleveland National Forest and the Santa Ana Mountains to the southwest, and unincorporated Riverside County along the rest of the border, respectively. Corona is approximately 48 miles southeast of Los Angeles and 95 miles north-northwest of San Diego. The asset consists of Buildings 1 and 2 of the Citrus Woods Corporate Center. Buildings 1 and 2 are individual condo units consisting of 5,031 square feet and 5,030 square feet, respectively. These units are directly adjacent to each other and were combined together for a Walgreens Call Center. The units may easily be separated again and could even be sold off individually. The condos are of high caliber and are very well maintained. The zoning is commercial, M-1 & M-4 which will allow for numerous commercial, retail, service, office, light manufacturing, and warehouse uses. The units feature a parking ratio of 4 spaces/1,000 square feet and are fire sprinklered. The condos also have excellent frontage along Joy Street. Citrus Woods Corporate Center is an ideal owner/user opportunity. If the new owner only occupies one of the units and rents the other unit to a tenant, this tenant effectively pays for most of the mortgage payment for the new owner. Simply put, the new owner occupying one of the units, effectively has a rent/mortgage payment of only $0.32/square foot! Owning these condos is more economical than paying rent somewhere else!

Investment Highlights

  • Ideal Owner/User Opportunity
  • A User's Effective "Rental" Rate is Only $0.32/SqFt
  • Occupy 1 Condo & the Rent from the Other Condo Pays Most of the Mortgage
  • Historically Low SBA Financing with 3.5% Interest Rate
  • Down Payment 10%; 25-Year Loan Term
  • M-1 & M-4 Zoning; Permitted Uses include Office/Commercial/Warehouse/Manufacturing
  • Convenient Access to 15 & 91 Freeways, Restaurants & Other Services

Exclusively Listed By

Listing Price: $2,800,000

Gross SF
10,061
Rentable SF
10,061
Price/Gross SF
$278.30
Lot Size
0.23 acres
Year Built
2007

Investment Highlights

  • Ideal Owner/User Opportunity
  • A User's Effective "Rental" Rate is Only $0.32/SqFt
  • Occupy 1 Condo & the Rent from the Other Condo Pays Most of the Mortgage
  • Historically Low SBA Financing with 3.5% Interest Rate
  • Down Payment 10%; 25-Year Loan Term
  • M-1 & M-4 Zoning; Permitted Uses include Office/Commercial/Warehouse/Manufacturing
  • Convenient Access to 15 & 91 Freeways, Restaurants & Other Services

Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to present the Citrus Woods Corporate Center located in Corona, California. The city is located along the western edge of Southern California’s Inland Empire region adjacent to Orange County. Corona is one of the most residential cities in the Inland Empire, but also has a large industrial portion on the northern half, being the headquarters of companies such as Fender Musical Instruments, Monster Beverage Corp., Lucas Oil Products and supercar manufacturer Saleen. As of the 2010 census, the city had a population of 152,374 residents. The cities of Norco and Riverside lie to the north and northeast, Chino Hills and Yorba Linda to the northwest, and the Cleveland National Forest and the Santa Ana Mountains to the southwest, and unincorporated Riverside County along the rest of the border, respectively. Corona is approximately 48 miles southeast of Los Angeles and 95 miles north-northwest of San Diego. The asset consists of Buildings 1 and 2 of the Citrus Woods Corporate Center. Buildings 1 and 2 are individual condo units consisting of 5,031 square feet and 5,030 square feet, respectively. These units are directly adjacent to each other and were combined together for a Walgreens Call Center. The units may easily be separated again and could even be sold off individually. The condos are of high caliber and are very well maintained. The zoning is commercial, M-1 & M-4 which will allow for numerous commercial, retail, service, office, light manufacturing, and warehouse uses. The units feature a parking ratio of 4 spaces/1,000 square feet and are fire sprinklered. The condos also have excellent frontage along Joy Street. Citrus Woods Corporate Center is an ideal owner/user opportunity. If the new owner only occupies one of the units and rents the other unit to a tenant, this tenant effectively pays for most of the mortgage payment for the new owner. Simply put, the new owner occupying one of the units, effectively has a rent/mortgage payment of only $0.32/square foot! Owning these condos is more economical than paying rent somewhere else!

Exclusively Listed By

MM Texture Background
MM Textured Background Lower