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    The Largest CRE Database in the US with Over 1 Million Listings

    1115 S Grove Ave Ontario, CA 91761

    Sponsored
    For Lease
    $5,800 /Mo ($21 SF/Yr)

    Commercial Lease - Ontario, CA

    Property size:
    3,308 SF
    Days on Market:
    350
    Last Refresh:
    Feb 15 at 11:06 pm

    Property Features for 1115 S Grove Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    0113351300000
    Size
    3,308 SF

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    2008
    Architectural style
    Other

    We can help!

    Listing Contact
    Maggie Chen

    Prudential California Realty (626) 363-1311

    Listing agent Maggie Chen (626) 913-2808 License #01246364

    Listing date Mar 3, 2025

    MLS# TR25046526 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Ontario Commercial Space with Warehouse

    This commercial space, available for lease, is a renovated property featuring both offices and a warehouse. It is situated in the Belmont & Grove Business Park in Ontario, California, offering frontage on Grove Avenue. The property includes a reception area, five private offices, a conference room, a kitchen with a sink, two restrooms, and a spacious warehouse area with high ceilings. A storage room provides additional organization and inventory space. The warehouse has a tall roll-up grade level door suitable for delivery and distribution. Partial office furniture will remain with the lease. Ample parking space is available. The property is located within 10 minutes of Ontario International Airport, south of Mission Boulevard, and east of Euclid Avenue, providing connectivity to major roads and highways. The property is suitable for various business operations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    NCR Flooring, Inc. General Contractor Golden Trans Lines Freight Service Ontario Pool Tile Building Supply El Vaquerito de ... Clothing & Fashion Store Nova's Water Restoration, ... Hardware & Home Improvement

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Building Supply Hair Salon Auto Repair Shop Big Box & Wholesale Store Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Mountain View RV & Boat Storage, Farm Country Big Rig Park N Go, Farm Country Big Rig Parking

    Location Insight

    • Map
    • Local Demand
    City
    Ontario
    County
    San Bernardino
    State
    California
    Longitude
    -117.628119
    Latitude
    34.0510127

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    FAQs

    What type of property is this?
    Warehouse - Renovated commercial space with offices and warehouse in Ontario.
    Where is this warehouse located?
    The property is located at 1115 S Grove Ave Ontario, CA.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: - Prime location in the sought-after Belmont & Grove Business Park with direct frontage on Grove Avenue.; - Spacious warehouse with high ceilings and a tall roll-up grade level door for efficient delivery and distribution.; - Well-equipped office space featuring a reception area, 5 private offices, a conference room, kitchen, and 2 restrooms.
    (626) 378-8668
    Request Owner's contact information
    1115 S Grove Ave Ontario, CA 91761
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    Ontario, CA 91761
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1115 S Grove Ave Ontario, CA 91761
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    We can help!
    Listing Contact
    Maggie Chen
    Real Estate License ID: 01246364
    (626) 378-8668 (626) 913-2808
    Learn more
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