Olive Wood Plaza Dr, Moreno Valley

$1,225,000

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0 Bed
0 Bath
.97 Acre
0 Garage

The property consists of approximately 0.99 acres (43,125 sqft) located on Olive Wood Plaza Drive in Moreno Valley, CA. The property is adjacent to Highway 60 with excellent visibility and freeway frontage. Electronic billboard signage is allowed as well as building signage. Highway 60 has traffic counts of approximately 120,000 cars per day. The property is located just north of Sunnymead Blvd, one of Moreno Valley’s main retail corridors which has traffic counts of approximately 20,000 cars per day. The property is an infill lot with curb, gutter as well as all utilities, some on the property with the rest in the street. Sewer and water are serviced by EMWD. Surrounding the property are medical offices, restaurants, auto- service retailers, and a hotel. A new hotel is currently going through the city approval process for the 1-acre infill lot to west.



The city previously approved Plans and Specifications for a 3 story Class A 21,000 + rentable sf office building on this site. The Extensive frontage on Olive Wood Plaza Drive is extended on site as the building design used provides for an angled front entrance that matches the east side property angle. This creates a striking presentation of the structure as you enter the area from Sunnymead Blvd. While the building is currently designed for 4 per 1,000 parking, resources exist for a 5 per 1,000 parking and upsized gross sf building of approximately 25,000 sf. Please refer to the following pages for renderings and floor plans. Owner is willing to negotiate his rights and associated design team to the utilize the existing plans and specifications that would cut both the design and re-entitlement costs and development timing essentially in half. Entrances on the east and west side have been dedicated to the city.

Essential Information

MLS® #
IV23132535
Price
$1,225,000
Bathrooms
0.00
Acres
0.97
Type
Land
Status
Active

Community Information

Address
Olive Wood Plaza Dr
Area
259 - Moreno Valley
City
Moreno Valley
County
Riverside
Zip Code
92553
Community Features
Urban
Senior Community
N

Amenities

View
None

Exterior

Lot Description
Value In Land

Additional Information

Date Listed
July 18th, 2023
Days on Market
293
Zoning
Mixed Use

Listing Details

Agent
Eric Washle
Office
COLDWELL BANKER COMMERCIAL SC

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Based on information from California Regional Multiple Listing Service, Inc. as of May 6th, 2024 at 1:50pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.