Montclair Retail Investment
For Sale
$2,100,000
10340-10368 Central Ave, Montclair, CA 91763
Value-add retail center in Montclair, California with investment and owner-user potential.
Property Size4,785 SF
Lot Size0.65 Acres
Price / SF$438.87
Days on Market128
Property Features for 10340-10368 Central Ave
General Information
Standard status
Active
Size
4,785 SF
Lot size
0.65 Acres
Property subtype
Shopping Strip
Amenities
Prime Visibility & Frontage – Located on Central Avenue With Traffic Counts of Roughly 38,000 Cars Per Day, Delivering High Street Exposure and Strong Consumer Flow.
Value-Add Ground Lease Potential – Investor Can Unlock Substantial Upside by Repositioning the Center, Redeveloping the Building, or Securing a Ground Lease on the Pad to Capture Future Rental Growth.
Recent Capital Improvements – Roof, HVAC Systems, and Parking Lot Have All Been Recently Upgraded, Representing Significant Landlord Investment and Reducing Near-Term Maintenance Risk.
Inflation-Resistant Lease Structure – Current Leases Feature Annual Rent Escalations, Providing Strong Protection in an Inflationary Environment.
Diversified Tenant Mix & Long-Term Occupancy – Multi-Tenant Configuration With Service and Retail Uses Resilient in Downturns; Many Tenants Have Long Tenure.
Dense Trade Area with Strong Vehicle Exposure – Montclair's Five-Mile Radius Includes Approximately 487,000 Residents and 150,622 Households, With a Population Density of Over 22,000 People Per Square Mile.
Excellent Accessibility & Signage – Positioned Along a Major Thoroughfare With Signalized Frontage, Easy Freeway Access, and Highly Visible Signage For Tenants and Customers
Regional Connectivity & Consumer Flow – Proximity to Interstate 10 and Key Employment Hubs Across the Inland Empire Supports Consistent Daytime and Commuter Traffic. | Long-Term Growth Tailwinds in the Inland Empire – The Wider Trade Area Benefits From Regional Population Growth, New Housing Development, and Increased Consumer Demand For Convenience Retail and Services.
Building Details
Building Size
4,785 SF
Year Built
1964
Listing Agency:
Marcus & Millichap - Los Angeles
(213) 943-1822
Listed By:
Orbell Ovaness · License #License(s): CA: 01402142
(213) 943-1822
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 8
Last Checked: Aug 8 at 6:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Los Angeles
Investment Insights
Based on property information with market context.
Located at 10340–10368 Central Avenue in Montclair, California, this multi-tenant retail center presents a value-add investment opportunity. The property offers a chance for an owner-user, particularly medical, dental, or professional practices, to occupy up to 57 percent of the center. The 4,785-square-foot property is situated on approximately 0.65 acres along Central Avenue, which experiences roughly 61,000 vehicles per day. The center features a mix of service and retail tenants, many with long-term occupancy. The site offers ground lease potential, as well as opportunities for repositioning or redevelopment. Month-to-month tenants provide flexibility to convert a portion of the building into medical or professional space. The landlord has completed upgrades to the roof, HVAC systems, and parking lot. The improved parking lot supports medical uses by offering an above-average parking ratio. The surrounding trade area within a five-mile radius of Montclair has approximately 487,000 residents and 150,000 households, with a population density exceeding 22,000 people per square mile. Proximity to Interstate 10 and major employment hubs ensures traffic and demand for retail and services. The property combines in-place income, capital improvements, and value-add strategies in a high-demand market. It offers flexibility, upside, and strategic positioning along a major corridor. The property is suitable for investors seeking a retail asset with cash flow and long-term upside.
Key Highlights
- Value‑add opportunity with ground lease, repositioning, or redevelopment potential.
- Prime location on Central Avenue with high traffic count (61,000 vehicles per day).**
- Owner‑user opportunity to occupy up to 57% of the property, ideal for medical/dental/professional practices, with SBA financing potential.**
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
$68,587
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
3.27%
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%
$1,371,740
$1.4M
Cap Rate 7%
$979,814
$979.8K
Cap Rate 9%
$762,078
$762.1K
Market Conditions
NOI Build-Up for 4,785 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
$103.4K $21.60/SF
− Vacancy
−$5.4K −$1.12/SF
EGI
$98.0K $20.48/SF
− OpEx
−$29.4K −$6.14/SF
NOI
$68.6K $14.33/SF
Area
San Bernardino County, CA
Vacancy
5.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,371,740
Cap Rate 7%
$979,814
Cap Rate 9%
$762,078
Alternative Uses
Best Use
Retail
$979.8K
$857.3K – $1.14M
NOI $68,587 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$883.2K – $1.18M
NOI $70,653 @ 7.0% cap · market cap 3.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
930
Businesses Nearby
Explore this area
Business Placement
Demographics for 91763, CA
37,631
Population
10,557
Households
3.6
Avg Household Size
34
Median Age
18%
College-Educated
74%
High-School Grad
5.3 sq mi
ZIP Area
7,100
Density / Sq Mi
$77,627
Median Household Income
$37,787
Median Earnings
$1,767
Median Rent
$550,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Value-add retail center in Montclair, California with investment and owner-user potential.
Where is this strip mall located?
The property is located at 10340-10368 Central Ave Montclair, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Value‑add opportunity with ground lease, repositioning, or redevelopment potential.; Prime location on Central Avenue with high traffic count (61,000 vehicles per day).**; Owner‑user opportunity to occupy up to 57% of the property, ideal for medical/dental/professional practices, with SBA financing potential.**
