Renovated Mixed-Use Commercial
New
For Sale
$1,060,000
1115 S Grove Ave 102, Ontario, CA 91761
Office and warehouse configuration with a reception area, conference room, kitchen, restrooms, storage, and loading access.
Property Size2,589 SF
Days on Market4
Property Features for 1115 S Grove Ave 102
General Information
Standard status
Active
Size
2,589 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Drive-In Doors
1
Amenities
Reception area
5 private offices
Conference room
kitchen with sink
2 Restrooms
Storage room
Building Details
Building Size
2,589 SF
Year Built
2008
Listing Agency:
Coldwell Banker Envision
Listed By:
Maggie Chen · License #01246364
(626) 378-8668
Source:
Elliman
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 13 at 7:54AM
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 Coldwell Banker Envision
Investment Insights
Based on property information with market context.
Renovated commercial space combining dedicated office areas with a warehouse component at 1115 S Grove Ave in Ontario. The layout includes a reception area, 5 private offices, a conference room, kitchen with sink, 2 restrooms, and a separate storage room. The warehouse provides high ceilings and a tall roll-up grade-level door for receiving and distribution activity.
The property has direct frontage along Grove Avenue and ample parking. Its location within Belmont & Grove Business Park places it within 10 minutes of Ontario International Airport. Additional property features include a practical mix of office, storage, meeting, and warehouse areas within one commercial setting.
The property has direct frontage along Grove Avenue and ample parking. Its location within Belmont & Grove Business Park places it within 10 minutes of Ontario International Airport. Additional property features include a practical mix of office, storage, meeting, and warehouse areas within one commercial setting.
Key Highlights
- Renovated mixed‑use commercial space with office and warehouse areas
- 5 private offices plus reception and conference areas
- Warehouse with high ceilings and a tall roll‑up grade‑level door
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
$41,889
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
3.95%
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%
$837,780
$837.8K
Cap Rate 7%
$598,414
$598.4K
Cap Rate 9%
$465,433
$465.4K
Market Conditions
NOI Build-Up for 2,589 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
$73.0K $28.20/SF
− Vacancy
−$6.0K −$2.31/SF
EGI
$67.0K $25.89/SF
− OpEx
−$25.1K −$9.71/SF
NOI
$41.9K $16.18/SF
Area
Ontario, CA
Vacancy
8.20%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
37.50%
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%
$837,780
Cap Rate 7%
$598,414
Cap Rate 9%
$465,433
Alternative Uses
Best Use
Mixed Use
$598.4K
$523.6K – $698.2K
NOI $41,889 @ 7.0% cap · market cap 3.95%
Second Best
Warehouse
$553.6K
$484.4K – $645.9K
NOI $38,751 @ 7.0% cap · market cap 3.66%
Theoretical Best
Specialty Retail
$669.6K
$585.9K – $781.2K
NOI $46,872 @ 7.0% cap · market cap 4.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
Explore this area
Business Placement
Demographics for 91761, CA
60,306
Population
18,309
Households
3.3
Avg Household Size
35
Median Age
21%
College-Educated
81%
High-School Grad
28.5 sq mi
ZIP Area
2,116
Density / Sq Mi
$97,396
Median Household Income
$44,493
Median Earnings
$2,015
Median Rent
$590,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office and warehouse configuration with a reception area, conference room, kitchen, restrooms, storage, and loading access.
Where is this mixed-use property located?
The property is located at 1115 S Grove Ave 102 Ontario, CA.
What is the asking price?
The asking price for this property is $1,060,000.
What are key features of this property?
This property features: Renovated mixed‑use commercial space with office and warehouse areas; 5 private offices plus reception and conference areas; Warehouse with high ceilings and a tall roll‑up grade‑level door
