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    Versatile Commercial Property on Highway 38 Title is generated by Realmo AI

    2048 Mentone Boulevard, Mentone, CA 92359

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    For Sale
    $1,499,990

    Commercial Sale - Mentone, CA

    Property size:
    7,602 SF
    Lot size:
    0.81 Acres
    Price / SF:
    $197/SF
    Added:
    Aug 27, 2025
    Days on Market:
    278
    Last Refresh:
    May 31 at 1:06 pm

    Property Features for 2048 Mentone Boulevard

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    CG-SCp
    Standard status
    Active
    APN
    0298183250000
    Size
    7,602 SF
    Lot size
    0.81 Acres

    Building Details

    Year built
    1927
    Architectural style
    Other

    We can help!

    Listing Contact
    Robert Mendez

    Listing agent Robert Mendez License #01971883

    Listing office Re/Max Time Realty 10535 Foothill Blvd, Rancho Cucamonga, CA

    Listing date Aug 27, 2025

    MLS# IG25193874 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.

    HighLights

    • High‑visibility 0.81‑acre lot on Hwy 38 with ±17,000 cars per day.
    • Versatile multi‑structure commercial property with Victorian house/office, guest house/studio, and warehouse/workshop.
    • Historic Victorian house/office (±3,186 SF) built in 1860, restored and renovated.
    • Additional structures: guest house + studio/creative room (±1,416 sf) and two‑story Warehouse/Workshop (±3,000 sf).
    • Ample paved parking and covered RV parking spots.
    • Located next to a brand‑new Dollar General in the active Hwy 38 Commercial Corridor.

    Overview

    This multi-structure commercial property is set on a high-visibility 0.81-acre lot along Highway 38. The site includes a Victorian house/office of approximately 3,186 square feet, built in 1860 by William B. McIntosh, the founder of Mentone. The structure has been restored and renovated, preserving the original design. The electrical system has been recently replaced and upgraded, and the roof is approximately 10 years old and in good condition. Additional structures include a guest house and studio/creative room totaling approximately 1,416 square feet, and a two-story warehouse/workshop of approximately 3,000 square feet. The warehouse roof is newer, about a couple years old. Ample paved parking is provided, along with several covered RV parking spots. Positioned next to a brand-new Dollar General and within the active Highway 38 Commercial Corridor, the location offers strong daily drive-by exposure with approximately 17,000 cars per day. This property is suitable for various businesses, including retail/showroom, auto sales and services, hospitality, restaurant/café, professional/medical offices, personal services, education, trades/light commercial, contractor office with dry storage, and e-commerce/micro-fulfillment. The property also presents a redevelopment opportunity. The property size is 7,602 square feet and is located in Mentone, CA.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $164.2k $21.60
    − Vacancy −$8.5k −$1.12
    EGI $155.7k $20.48
    − OpEx −$46.7k −$6.14
    NOI $109.0k $14.33
    7,602 SF · lease $21.60/SF/yr · vacancy 5.20% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $1.56M
    $1.36M – $1.82M (±1% cap)
    NOI $108,965 @ 7.0% cap · market cap 7.26%
    Second Best
    Office B
    $1.28M
    $1.12M – $1.49M (±1% cap)
    NOI $89,478 @ 7.0% cap · market cap 5.97%
    Theoretical Best
    Office A
    $1.60M
    $1.40M – $1.87M (±1% cap)
    NOI $112,247 @ 7.0% cap · market cap 7.48%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mentone
    County
    San Bernardino
    State
    California
    Longitude
    -117.123557
    Latitude
    34.069642

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    FAQs

    What type of property is this?
    Mixed-use property - Multi-structure commercial property on 0.81 acres with high visibility.
    Where is this mixed-use property located?
    The property is located at 2048 Mentone Boulevard Mentone, CA.
    What is the asking price?
    The asking price for this property is $1,499,990.
    What are key features of this property?
    This property features: High‑visibility 0.81‑acre lot on Hwy 38 with ±17,000 cars per day.; Versatile multi‑structure commercial property with Victorian house/office, guest house/studio, and warehouse/workshop.; **Historic Victorian house/office (±3,186 SF) built in 1860, restored and renovated.**
    (951) 283-5015
    We can help!
    Listing Contact
    Robert Mendez
    Real Estate License ID: 01971883
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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.

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