Building Details

Year built 2006

Listing Agency: REALTY ONE GROUP EMPIRE Show Phone

Listed By: NANETTE MURPHY · License #01088214 Show Phone

Added: Oct 20, 2023 Changed: Oct 8 Last Checked: Nov 1 at 8:06AM

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MLS# EV23195877

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Investment Insights

Based on property information with market context.

Unit 17 is an industrial condominium with approximately 1,780 square feet of warehouse area and approximately 442 square feet configured as a foyer, showroom, office, kitchen, and bathroom. The property contains approximately 2,222 square feet in total and was built in 2006. A heat-pump cooling system serves the unit.

Large front windows provide display exposure, while the building offers room for signage. The warehouse features 20-foot ceilings, a large roll-up door, and a separate man door. Located at 12221 Poplar Street in Oak Hills, the unit carries IND zoning.

Key Highlights

• Approximately 2,222 total square feet, including approximately 1,780 square feet of warehouse area
• Approximately 442 square feet of foyer, showroom, office, kitchen, and bath space
• 20‑foot ceilings with a large roll‑up door and separate man door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,154

Cap Rate

5.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$523,080 $523.1K

Cap Rate 7%

$373,629 $373.6K

Cap Rate 9%

$290,600 $290.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,222 SF

Gross rent

$37.9K $17.04/SF

− Vacancy

−$3.0K −$1.35/SF

EGI

$34.9K $15.69/SF

− OpEx

−$8.7K −$3.92/SF

NOI

$26.2K $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 Rate 5%

$523,080

Cap Rate 7%

$373,629

Cap Rate 9%

$290,600

Alternative Uses

Best Use

Office B

$373.6K

$326.9K – $435.9K (±1% cap)

NOI $26,154 @ 7.0% cap · market cap 5.51%

Second Best

Warehouse

$316.5K

$277.0K – $369.3K (±1% cap)

NOI $22,157 @ 7.0% cap · market cap 4.66%

Theoretical Best

Office A

$468.7K

$410.1K – $546.8K (±1% cap)

NOI $32,809 @ 7.0% cap · market cap 6.91%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Building Supply HVAC Service Electrical Service Storage Facility Furniture & Home Goods Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

20 ft

Clear height

Location Intelligence

Trade Area within ½ mile

102

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 92344, CA

23,166

Population

6,329

Households

3.7

Avg Household Size

34

Median Age

20%

College-Educated

83%

High-School Grad

37.6 sq mi

ZIP Area

616

Density / Sq Mi

$99,909

Median Household Income

$45,574

Median Earnings

$2,117

Median Rent

$454,100

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Frequently Asked Questions

What type of property is this?

Flex space - IND-zoned unit combines warehouse, office, kitchen, and bath areas.

Where is this flex space located?

The property is located at 12221 Poplar Street Oak Hills, CA.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: Approximately 2,222 total square feet, including approximately 1,780 square feet of warehouse area; Approximately 442 square feet of foyer, showroom, office, kitchen, and bath space; 20‑foot ceilings with a large roll‑up door and separate man door