AUCTION | AUGUST 2–5, 202 3466-3478 University Ave Local commercial 1 542 m² 100 % Loué À vendre Riverside, CA 92501

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, directly across from the YMCA and just one block from the world-renowned Mission Inn Hotel & Spa.
Situated within Riverside's rapidly evolving urban core, the property benefits from immediate access to the Riverside Convention Center, museums, restaurants, nightlife, Metrolink commuter rail, and the 91 Freeway. The surrounding area continues to experience significant public and private investment, further enhancing Downtown Riverside's appeal as a destination for residents, businesses, and visitors alike.
Substantial entitlement work has already been completed, providing incoming ownership with a defined and accelerated path toward redevelopment. Existing plans contemplate approximately 5,900 square feet of retail space, 10,000 square feet of upper-level office space, and 2,500 square feet of basement retail or storage space. Existing income helps offset carrying costs while ownership completes the remaining approval process.
Surrounded by successful adaptive reuse projects including Imperial Lofts and Stadler Plaza, the property offers investors and owner-users the opportunity to pursue a variety of redevelopment strategies, including mixed-use, hospitality, office, residential, entertainment, and other creative uses. In addition, the property may offer potential Historic Tax Credit and other redevelopment incentive opportunities, subject to buyer verification.
With flexible month-to-month tenancy, significant predevelopment progress already achieved, and multiple potential exit strategies, the Crescent Building represents a compelling opportunity to create a transformative project in the center of Downtown Riverside.