1326 E Grand Ave

• Listed November 11, 2024, with a price change in April 2026
• Approximately 1.37 acres with existing improvements
• Located approximately 2 miles north of the 60 Freeway
• Grand Avenue and Reservoir Street are truck routes with convenient access to the 60 Freeway
• Partially improved yard area with existing covered storage
• Zoned Industrial — Workplace District 3 [LM4-G2-I2]
• Property is being marketed primarily for its land value

At $2,500,000, or approximately $41.89 per square foot of land, I think this property is priced well for an industrial-zoned site in Pomona. You have 1.37 acres, existing improvements, usable yard area, covered storage, and good truck access to the 60 Freeway.

The biggest drawback here is the zoning. Although Workplace District 3 [LM4-G2-I2] is an industrial zoning designation, the City of Pomona is very specific about the types of businesses that can operate within this zone.

For the right owner-user, I think there is a good opportunity here. You just need to be very clear about what your business does and make sure your specific operation works within the zoning before getting too far into the deal.

The first thing I like is the land price. At approximately $41.89 per square foot, you are getting industrial-zoned land at a relatively attractive basis, especially considering there are already improvements on the property.

The location also makes sense for an industrial user. The property is approximately two miles north of the 60 Freeway, and Grand Avenue and Reservoir Street are truck routes that provide convenient access back to the freeway.

The yard area is another major positive. It is partially improved and there is already covered storage on site. Outdoor storage can also be permitted as an accessory use within the I2 zoning, subject to the City's requirements. If your primary business operation is allowed, being able to utilize the outdoor portion of the property could add a lot of value.

The biggest thing I would plan for is an extended due diligence period. Not only will you likely need a Phase I ESA and likely Phase II, but there is extensive due diligence to conduct with the City of Pomona.

If I were buying this property, I would want to clearly identify how the City of Pomona classifies my business before removing contingencies. Just because the property is industrial zoned, don't assume that any warehouse, trucking, distribution, outside storage or similar operation will automatically work here.

I would also want written confirmation from the city that my proposed use is allowed before closing. Some uses are allowed by right, some require additional approval, and others may not be permitted within this zoning designation at all.

I think this property makes the most sense for an owner-user who needs yard area, outside storage, and convenient truck access, but whose business clearly falls within one of the uses allowed under the I2 zoning.

At the current asking price of $2,500,000, I think there is still room to negotiate based on the zoning risk, the time the property has been on the market, and the previous price change. My price would be under $2,000,000.

At that number, I would feel more comfortable taking on some of the zoning uncertainty. If your use ends up requiring a CUP or additional City approvals, buying at a lower basis gives you some room to absorb those costs.