Small-Bay Flex
New
For Sale
$5,400,000
1180 E 9th St, San Bernardino, CA 92410
Automotive and industrial suites offer grade-level loading, private restrooms, and limited office buildout.
Property Size41,902 SF
Days on Market2
Property Features for 1180 E 9th St
General Information
Standard status
Active
Size
41,902 SF
Property subtype
Industrial
Building Details
Building Size
41,902 SF
Year Built
1988
Listing Agency:
Lee & Associates
Listed By:
Guy LaFerrara · License #CalDRE #01012355
(949) 933-9675
Source:
Lee-associates
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 1 at 8:18AM
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 Lee & Associates
Investment Insights
Based on property information with market context.
Aborn Business Park comprises two buildings with 44 suites across approximately 41,902 square feet on 3.17 acres. Built in 1988 and zoned M-1, the property is configured for automotive and industrial businesses. Suites range from 533 to 2,260 square feet, with grade-level loading, a private restroom, and minimal office finishes in each. Thirty suites are occupied by 20 tenants, with 14 units currently vacant; the property is 63.2% leased on NNN terms.
The San Bernardino property has an in-place cap rate of 4.24%.
The San Bernardino property has an in-place cap rate of 4.24%.
Key Highlights
- Two‑building flex property with 44 suites on 3.17 acres
- Approximately 41,902 SF; suites range from 533 to 2,260 SF
- Grade‑level loading and a private restroom in every suite
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
$395,340
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
7.32%
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%
$7,906,800
$7.9M
Cap Rate 7%
$5,647,714
$5.6M
Cap Rate 9%
$4,392,667
$4.4M
Market Conditions
NOI Build-Up for 41,902 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
$603.4K $14.40/SF
− Vacancy
−$38.6K −$0.92/SF
EGI
$564.8K $13.48/SF
− OpEx
−$169.4K −$4.04/SF
NOI
$395.3K $9.43/SF
Area
San Bernardino, CA
Vacancy
6.40%
Lease Rate
$14.40 /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%
$7,906,800
Cap Rate 7%
$5,647,714
Cap Rate 9%
$4,392,667
Alternative Uses
Best Use
Flex RnD
$7.80M
$6.82M – $9.10M
NOI $545,946 @ 7.0% cap · market cap 10.11%
Second Best
Industrial
$5.65M
$4.94M – $6.59M
NOI $395,340 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$12.62M
$11.04M – $14.72M
NOI $883,361 @ 7.0% cap · market cap 16.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92410, CA
51,651
Population
14,325
Households
3.6
Avg Household Size
30
Median Age
6%
College-Educated
66%
High-School Grad
8.2 sq mi
ZIP Area
6,299
Density / Sq Mi
$53,390
Median Household Income
$32,474
Median Earnings
$1,303
Median Rent
$273,700
Median Home Value
Check the figures for this property
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?
Flex space - Automotive and industrial suites offer grade-level loading, private restrooms, and limited office buildout.
Where is this flex space located?
The property is located at 1180 E 9th St San Bernardino, CA.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: Two‑building flex property with 44 suites on 3.17 acres; Approximately 41,902 SF; suites range from 533 to 2,260 SF; Grade‑level loading and a private restroom in every suite
