Downtown Redlands - Investment/Owner-User

Ovaness-Rostamian Group of Marcus and Millichap is pleased to present the Redlands Galleria, an iconic 1924 property that offers a distinctive investment opportunity in the heart of Downtown Redlands, California. Situated between Redlands Avenue and East State Street, this property is ideally located in one of Redlands’ most desirable walkable locations.
In addition to the approximately 22,000 square feet at 17 East State Street, there are two additional buildings accessible from Redlands Boulevard and 5th Street behind the main property. These buildings measure approximately 2,000 and 12,000 square feet respectively, totaling an additional 14,000 square feet of available space. Contact our agent for pricing details.
Investors are presented with a wide range of redevelopment possibilities. These include the creation of upscale retail spaces, the development of office spaces on upper levels, and other approved uses, subject to regulatory approvals. The property provides investors with the flexibility to optimize the building for its highest and best use.
Buyers have the freedom to choose from various ownership and investment strategies. Following redevelopment, options include leasing individual spaces or occupying a portion of the property. Moreover, there’s potential for owner-user financing, with the possibility of securing SBA Financing with a minimal 10% down payment.
The property produces a healthy existing cash flow while investors work towards obtaining the necessary approvals for redevelopment. This feature ensures that investors can generate income during the transformation process.
Tenants include an Antique Shop facing East State Street, which the purchaser could continue to operate until they are ready to reposition the property. The buildings feature impressive high ceilings ranging from 15 to 20 feet.
Public records indicate the property comprises approximately 21,476 square feet of building space on a 10,640-square-foot land area, with an additional 13,896 of building space and 22,971 square feet of land additionally available. Buyers are advised to conduct their own due diligence to verify square footage.
For details regarding the buyer qualification process, property tours, and offer submission deadlines, we encourage prospective buyers to contact our listing agents. In accordance with the ownership’s request, please coordinate property tours with our experienced team to ensure the current tenants are not disturbed.
The Redlands Galleria represents a significant investment opportunity in an evolving Downtown Redlands location. Its strategic position, redevelopment potential, and flexibility in ownership and usage make it an attractive prospect for investors looking to contribute meaningfully to the Redlands community while achieving a favorable return on investment.