After many years of asking and waiting and receiving no satisfaction, community advocates, real estate brokers, property managers and investors met with Shaun Morrow from Cushman and Wakefield to finally tour the long dormant Mar Val Plaza in Downtown Rio Linda.
Our first stop was at the Mar Val grocery store building, but the locks had been tampered with and Mr. Morrow couldn’t get the doors unlocked.
Our next stop was at the Romano’s/Graziano’s/Papa’s Pizza shop. This location had been vacant since the early 2000’s when Papa’s Pizza moved to the new location at Elkhorn and Rio Linda Blvd. Surprisingly, it doesn’t look as bad as would be expected. There’s some water damage in the front left corner that would require replacement of the subfloor and of course the ceiling above. All the carpet has been ripped out, and the pizza ovens have been removed.
Remembering how vital and central to the community this restaurant was, it really is a shock to see it in this condition.
Our next stop was the old Welfare Offices on the east side of the plaza, behind Mar Val. Mold, mildew, evidence of flooding, and debris everywhere. This building would have to be torn down to the studs if someone wanted to refurbish it. A lot of water damage.
In total, the property is over 90,000 square feet of commercial space. It’s being offered at $2.5 Million dollars, which isn’t much more than the value of the land. The broker, on behalf of the bank who owns the property, expects to have it sold within 6-8 weeks at that price.