Multi-Tenant Office/Retail
For Sale
$835,000
11328 11374 Bartlett Avenue, Adelanto, CA 92301
Package of three buildings with six office/retail units, fully occupied and currently generating over $100,000 gross annually.
Property Size5,657 SF
Price / SF$147.60
Days on Market131
Property Features for 11328 11374 Bartlett Avenue
General Information
Standard status
Active
Size
5,657 SF
Property subtype
Retail
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
6
Amenities
3
Rectangular, Level
164 X 135
Paved. Paved Road, Level, Rectangular.
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
CPI Capital Properties
(760) 243-2205
Listed By:
John Connolly
Source:
Xome
Added: Apr 16
Changed: Aug 23
Last Checked: Aug 23 at 11:01AM
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 CPI Capital Properties
Investment Insights
Based on property information with market context.
This for-sale package includes three buildings developed on a 20,500-square-foot lot, offering a total of six office/retail units. The configuration includes two structures at 11328 Bartlett Ave and one building at 11374 Bartlett Ave. At 11328 Bartlett Ave, the first building is split into four units totaling 2,444 square feet and is fully occupied by healthcare/dental tenants, and a second unit totals 2,088 square feet and is fully occupied by a tax/business service office. At 11374 Bartlett Ave, the third building is one unit totaling 1,125 square feet and is fully occupied by a counseling office. Combined, the properties provide 5,657 square feet of rentable space.
The site is positioned in the heart of Adelanto’s business district, with one block access to Hwy 395 and close proximity to Interstate-15. It also has frontage along Bartlett Ave, with high levels of daily drive-by traffic noted in the remarks.
For investors or owner-operators seeking an income-producing, stabilized setup, this package is currently 100% occupied across all units and is described as generating over $100,000 in gross annual income. The remarks also cite local infrastructure improvements tied to the Bartlett Ave rehabilitation project and additional regional industrial and manufacturing activity.
The site is positioned in the heart of Adelanto’s business district, with one block access to Hwy 395 and close proximity to Interstate-15. It also has frontage along Bartlett Ave, with high levels of daily drive-by traffic noted in the remarks.
For investors or owner-operators seeking an income-producing, stabilized setup, this package is currently 100% occupied across all units and is described as generating over $100,000 in gross annual income. The remarks also cite local infrastructure improvements tied to the Bartlett Ave rehabilitation project and additional regional industrial and manufacturing activity.
Key Highlights
- Commercial income package in Adelanto, CA: three buildings on a 20,500 SF lot with five office/retail units total.
- All units are fully occupied at 100% occupancy, with over $100,000 in gross annual income.
- 11328 Bartlett Ave includes two structures: four 2,444 SF office/retail units and a 2,088 SF single unit (tax/business service office).
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
$66,585
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
7.97%
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%
$1,331,700
$1.3M
Cap Rate 7%
$951,214
$951.2K
Cap Rate 9%
$739,833
$739.8K
Market Conditions
NOI Build-Up for 5,657 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
$96.4K $17.04/SF
− Vacancy
−$7.6K −$1.35/SF
EGI
$88.8K $15.69/SF
− OpEx
−$22.2K −$3.92/SF
NOI
$66.6K $11.77/SF
Area
San Bernardino County, CA
Vacancy
7.90%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,331,700
Cap Rate 7%
$951,214
Cap Rate 9%
$739,833
Alternative Uses
Best Use
Office B
$951.2K
$832.3K – $1.11M
NOI $66,585 @ 7.0% cap · market cap 7.97%
Second Best
Healthcare Medical
$669.9K
$586.1K – $781.5K
NOI $46,891 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,528 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Explore this area
Business Placement
Demographics for 92301, CA
38,912
Population
10,069
Households
3.9
Avg Household Size
29
Median Age
8%
College-Educated
73%
High-School Grad
224.8 sq mi
ZIP Area
173
Density / Sq Mi
$68,205
Median Household Income
$35,172
Median Earnings
$1,385
Median Rent
$316,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Package of three buildings with six office/retail units, fully occupied and currently generating over $100,000 gross annually.
Where is this office building located?
The property is located at 11328 11374 Bartlett Avenue Adelanto, CA.
What is the asking price?
The asking price for this property is $835,000.
What are key features of this property?
This property features: Commercial income package in Adelanto, CA: three buildings on a 20,500 SF lot with five office/retail units total.; All units are fully occupied at 100% occupancy, with over $100,000 in gross annual income.; 11328 Bartlett Ave includes two structures: four 2,444 SF office/retail units and a 2,088 SF single unit (tax/business service office).
