Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    940 Waterman Ave San Bernardino, CA 92404

    Sponsored
    Picture of Commercial land at Waterman Ave 940, San Bernardino, CA
    For Sale
    $135,000

    Land/Lot - San Bernardino, CA

    Lot size:
    6,450.00 Acres
    Days on Market:
    22
    Last Refresh:
    Feb 16 at 6:06 pm

    Property Features for 940 Waterman Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    0140182140000
    Exterior features
    Community Features Included: Sidewalks, Street Lights, Suburban
    Lot size
    6,450.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Lindsey Shortland
    Lindsey Shortland

    Keller Williams Realty Corona (951) 271-3000

    Listing agent Lindsey Shortland (951) 271-3000 License #02168025

    Listing date Jan 26, 2026

    MLS# IG26018548 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

    San Bernardino Commercial Vacant Lot

    This 0.15-acre commercial vacant lot is located in San Bernardino, California. The lot is level and ready for construction. Situated off Waterman, a major thoroughfare, the property is near restaurants, a mall, and a residential area. Given that most lots in this highly populated area have already been developed, this property presents a unique opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    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
    San Bernardino
    County
    San Bernardino
    State
    California
    Longitude
    -117.2789988
    Latitude
    34.1164796

    Nearby Similar for Sale

    • $500,000
      3,904 SF

      San Bernardino Commercial Building For Sale

      Commercial building on Base Line Street, near 15 Fwy.
      1232 W Base Line St, San Bernardino, CA 92411
      View Details
    • $350,000
      1,300 SF

      Remodeled Mixed-Use Property, San Bernardino

      Remodeled mixed-use property suitable for office or live/work.
      1315 N D St, San Bernardino, CA 92405
      View Details
    • $700,000
      1,982 SF

      Renovated Homes on One Lot

      Two renovated homes on one lot with separate entrances.
      577 Herrington Ave N, San Bernardino, CA 92411
      View Details
    • $275,000
      1,295 SF

      San Bernardino Office Space For Sale

      Office space in San Bernardino, ready for immediate occupancy.
      1393 N D St, San Bernardino, CA 92405
      View Details
    • $1,649,000
      7,964 SF

      San Bernardino Commercial Property For Sale

      7,964 SF commercial property with rental income in San Bernardino.
      7282 Tippecanoe Ave, San Bernardino, CA 92404
      View Details
    • $535,000
      1,490 SF

      San Bernardino Duplex Opportunity

      Well-maintained duplex in San Bernardino, ideal for owner-occupants or investors.
      243 E Olive St, San Bernardino, CA 92410
      View Details
    • $670,000
      2,496 SF

      San Bernardino Fourplex with Carport

      Four-unit property with private laundry, gated, and convenient location.
      1415 N Sierra Rd, San Bernardino, CA 92405
      View Details
    • $469,000
      1,531 SF

      San Bernardino Commercial Property For Sale

      Versatile commercial property in San Bernardino, ideal for various businesses.
      342 Mount Vernon Ave S, San Bernardino, CA 92410
      View Details
    • $2,800,000
      6,938 SF

      San Bernardino Commercial Opportunity Zone Property

      Commercial property in San Bernardino Opportunity Zone, suitable for various uses.
      484 E Redlands Blvd, San Bernardino, CA 92408
      View Details
    • $798,000
      2,922 SF

      San Bernardino Multifamily Investment Opportunity

      Four-unit multifamily property in a desirable San Bernardino neighborhood.
      188 E 11Th St, San Bernardino, CA 92410
      View Details
    • $899,000
      Pending

      San Bernardino Church with Expansion Potential

      Church property with expansion potential on three parcels totaling 30,000 SF.
      847 N E St, San Bernardino, CA 92410
      View Details
    • $275,000

      San Bernardino Business Opportunity

      Turnkey business near CSUSB with high visibility and ample parking.
      4594 University Pkwy, San Bernardino, CA 92407
      View Details

    FAQs

    What type of property is this?
    Commercial land - Vacant commercial lot ready for development in San Bernardino.
    Where is this commercial land located?
    The property is located at 940 Waterman Ave San Bernardino, CA.
    What is the asking price?
    The asking price for this property is $135,000.
    What are key features of this property?
    This property features: - Highly populated area with limited vacant lots available.; - Level .15 acre lot, ready to build.; - Commercial/mixed-use zoning.
    (951) 403-1189
    Request Owner's contact information
    940 Waterman Ave San Bernardino, CA 92404
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    940 Waterman Ave
    San Bernardino, CA 92404
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    940 Waterman Ave San Bernardino, CA 92404
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lindsey Shortland
    Lindsey Shortland
    Real Estate License ID: 02168025
    (951) 403-1189 (951) 271-3000
    Learn more
    Google sign-in failed. Please try again or use another login method.