Multi-Tenant Medical Office
For Sale
$1,099,000
18387 US Highway 18, Apple Valley, CA 92307
Commercial Sale, Apple Valley, CA
Property Size8,195 SF
Price / SF$134.11
Days on Market53
Property Features for 18387 US Highway 18
General Information
Property type
Residential
Property subtype
Office
Directions
From 15 Freeway take D-St exit then go east toward Apple Valley. Turn right on Kasota Rd then immediate left to Outer Highway 18 to the subject property.
Subdivision
APPV - Apple Valley
Standard status
Active
APN
0473114060000
Building Details
Year built
1958
Listing Agency:
Alam Realty
(760) 247-6655
Listed By:
Mohammad Alam · License #01457818
(855) 225-2526
Added: Jul 4
Changed: Aug 24
Last Checked: Aug 25 at 8:06AM
MLS# HD26145464
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.
Investment Insights
Based on property information with market context.
This approximately +/-8,195 SF medical and professional office building contains multiple tenant suites and was built in 1958. Units 1 and 2 have been completely remodeled for medical office use, while Unit 5A has also undergone renovation. The property has been owner-occupied and professionally maintained during the current ownership period.
The building sits at the intersection of Highway 18 and Corwin Road in Apple Valley’s Desert Knolls Medical District, caddy corner from Providence St. Mary Medical Center. Highway 18 frontage and a distinctive clock tower provide identifiable exposure. Front parking serves customers, with separate rear parking designated for employees and business owners.
The building sits at the intersection of Highway 18 and Corwin Road in Apple Valley’s Desert Knolls Medical District, caddy corner from Providence St. Mary Medical Center. Highway 18 frontage and a distinctive clock tower provide identifiable exposure. Front parking serves customers, with separate rear parking designated for employees and business owners.
Key Highlights
- Approximately +/-8,195 SF multi‑tenant medical and professional office building
- Located at Highway 18 and Corwin Road in the Desert Knolls Medical District
- Caddy corner from Providence St. Mary Medical Center
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$96,458
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,929,160
$1.9M
Cap Rate 7%
$1,377,971
$1.4M
Cap Rate 9%
$1,071,756
$1.1M
Market Conditions
NOI Build-Up for 8,195 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$139.6K $17.04/SF
− Vacancy
−$11.0K −$1.35/SF
EGI
$128.6K $15.69/SF
− OpEx
−$32.2K −$3.92/SF
NOI
$96.5K $11.77/SF
Area
San Bernardino County, CA
Vacancy
7.90%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,929,160
Cap Rate 7%
$1,377,971
Cap Rate 9%
$1,071,756
Alternative Uses
Best Use
Office B
$1.38M
$1.21M – $1.61M
NOI $96,458 @ 7.0% cap · market cap 8.78%
Second Best
Healthcare Medical
$970.4K
$849.1K – $1.13M
NOI $67,928 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,003 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,209
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92307, CA
41,649
Population
13,832
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
187.5 sq mi
ZIP Area
222
Density / Sq Mi
$74,715
Median Household Income
$39,014
Median Earnings
$1,379
Median Rent
$396,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Remodeled suites, established occupancy, and separate customer and employee parking serve medical and professional office users.
Where is this medical office space located?
The property is located at 18387 US Highway 18 Apple Valley, CA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Approximately +/-8,195 SF multi‑tenant medical and professional office building; Located at Highway 18 and Corwin Road in the Desert Knolls Medical District; Caddy corner from Providence St. Mary Medical Center
