The Armstrong Building 150-196 E 3rd St Local commercial 2 599 m² À vendre Pomona, CA 91766 2 571 353 € (989,20 €/m²)

Prime Street Frontage in Downtown Pomona: Located in the heart of Downtown Pomona in close proximity to the Fox Theater, Glass House, and other popular venues. The property benefits from high visibility and foot traffic, making it ideal for medical, retail, restaurant, or office use.
High Population Density: With 173,404 people living within a 3-mile radius, the property is surrounded by a strong consumer base, providing ample opportunity for consistent patronage and brand visibility.
Arts & Entertainment District: Downtown Pomona is known for its thriving arts scene, monthly Art Walk, and popular music venues, attracting visitors from across Southern California. This cultural hub increases traffic to local businesses and enhances the area’s appeal.
Well-Parked: The property features 8 dedicated on-site parking stalls behind the property, 23 additional stalls across Locust Street (call broker for details), ample street parking, and a city-owned public parking lot across Third Street.
Less Expensive than Leasing / Be Your Own Landlord: One could occupy the current vacancy at a substantially lower cost compared to leasing. Further benefits include potential value appreciation, tax benefits, and income growth. As an owner/user with access to SBA financing at 10% down and an estimated 5.8% interest rate, the estimated loan payment is $16,950/month.
Value-Add Potential: The property features multiple upside opportunities, including below-market lease rates, flexible lease terms, an un-utilized basement space, and additional income through lease-up of vacant spaces.
Dual Stream Income Generator: This mixed-use asset not only generates income from its residential units but also benefits from potential commercial income, offering dual revenue streams. The residential units are well maintained, clean, and stylishly modern, while still capturing the charm and character of the building's unique architecture.