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    31976 Hilltop Boulevard unit B Running Springs, CA 92382

    View on Map
    For Lease
    $500 /Mo

    Commercial Lease - Running Springs, CA

    Property size:
    400 SF
    Added:
    Mar 17, 2026
    Days on Market:
    17
    Last Refresh:
    Apr 2 at 1:06 pm

    Property Features for 31976 Hilltop Boulevard unit B

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    2951420700000
    Size
    400 SF

    Utilities

    Cooling system
    None (Cooling)

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Cherie Eckley

    Listing agent Cherie Eckley License #01357472

    Listing office First Team Real Estate 18180 Yorba Linda Bl. Ste 501, Newport Beach, CA

    Listing date Mar 17, 2026

    MLS# PW26058651 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.

    Overview

    Running Springs Vintage Retail/Office Space

    This commercial space in Running Springs, California, presents a rare opportunity in an ideal location, described as the 'Gateway to the San Bernardino Mountains.' Suitable for an artist loft, office, or retail space, the property is situated on the main street, adjacent to an 'Artistry & Alchemy' shop, restaurants, and Jensen's Grocery Store. The unit offers 395 square feet of space and includes a bathroom. New tile flooring has been installed. The property features a charming vintage courtyard with a window and a totem pole from the original 1960's Santa's Village. Parking is available both in front of and behind the building. Highway 18, providing access to Snow Valley Mountain Resort (6 miles east), Big Bear (17 miles east), and Lake Arrowhead (7 miles west), passes behind the building. Additionally, Highway 330, the highway to mountain areas, has an exit on Hilltop. The property is located in the County of San Bernardino and is subject to the County's business regulations. A notable advantage for business owners is the absence of city business requirements in Running Springs. The unit is accessible via a brick staircase between Artistry & Alchemy and Miguel Torres Clothing, with a gate that is locked when the shops are closed.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Running Springs
    County
    San Bernardino
    State
    California
    Longitude
    -117.089
    Latitude
    34.1964

    FAQs

    What type of property is this?
    Retail space - Vintage artist loft, office, or retail space for lease.
    Where is this retail space located?
    The property is located at 31976 Hilltop Boulevard unit B Running Springs, CA.
    What is the lease rate?
    The lease rate is $500 /Mo.
    What are key features of this property?
    This property features: Prime location in Running Springs, the 'Gateway to the San Bernardino Mountains', offering high visibility and accessibility.; Situated on main street next to established businesses like Artistry & Alchemy shop, restaurants, and Jensen's Grocery Store.; Proximity to major mountain resorts and attractions: Snow Valley (6 miles), Big Bear (17 miles), and Lake Arrowhead (7 miles).
    (714) 357-2001
    We can help!
    Listing Contact
    Cherie Eckley
    Real Estate License ID: 01357472
    Learn More
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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
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