Medical Office Condo For
For Sale
$550,000
4950 San Bernardino St 216, Montclair, CA 91763
Medical office condo with long-term tenant near Montclair Hospital.
Property Size1,469 SF
Price / SF$374.40
Days on Market130
Property Features for 4950 San Bernardino St 216
General Information
Standard status
Active
Size
1,469 SF
Property subtype
Commercial
Building Details
Building Size
1,469 SF
Year Built
1973
Units
216
Listing Agency:
Universal Elite Inc.
(909) 979-0207
Listed By:
Oliver Liu · License #01919930
(909) 979-0207
Source:
Elliman
Added: Apr 24
Changed: Aug 21
Last Checked: Aug 30 at 9:32PM
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 Universal Elite Inc.
Investment Insights
Based on property information with market context.
Suite 216, a 1,469-square-foot office condo, features a large waiting room, receptionist area, three doctor exam rooms, two private offices, a nurse station, two separate entrances, a private restroom, and two storage rooms. The waiting room and receptionist area were recently remodeled to meet ADA requirements, including new marble countertops. The unit is currently rented by a pediatrician who has been there for over seven years, with an OBGYN doctor sharing the space. The current rent is $3,406 per month, with HOA and property tax around $835 per month, resulting in a net cash-in-flow of approximately $2,571 per month. A new three-year lease was signed on January 1, 2024. The Montclair Medical Building, where the condo is located, completed renovations in early 2017. The building contains 23 individual office condos approved for professional and medical use. Interior upgrades include new modern restrooms, designer lighting, and contemporary flooring. The exterior has a new entrance, paint, landscaping, and parking lot. The building is situated in a medical plaza that includes Montclair Hospital Medical Center (102 beds), Community Extended Care Hospital, and Montclair Royale (an assisted living center). It offers easy access to Interstate 10 and is close to retail and restaurant outlets, and minutes from Montclair Plaza.
Key Highlights
- Established tenant (pediatrician) with a new 3‑year lease signed 1/1/24, providing immediate rental income.
- Net positive cash flow of approximately $2571 per month after HOA and property tax.
- Unit is well‑equipped for medical use with a large waiting room, receptionist area, 3 exam rooms, 2 offices, nurse station, restroom, and storage.
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
$17,291
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
3.14%
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%
$345,820
$345.8K
Cap Rate 7%
$247,014
$247.0K
Cap Rate 9%
$192,122
$192.1K
Market Conditions
NOI Build-Up for 1,469 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
$25.0K $17.04/SF
− Vacancy
−$2.0K −$1.35/SF
EGI
$23.1K $15.69/SF
− OpEx
−$5.8K −$3.92/SF
NOI
$17.3K $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%
$345,820
Cap Rate 7%
$247,014
Cap Rate 9%
$192,122
Alternative Uses
Best Use
Office B
$247.0K
$216.1K – $288.2K
NOI $17,291 @ 7.0% cap · market cap 3.14%
Second Best
Healthcare Medical
$174.0K
$152.2K – $203.0K
NOI $12,177 @ 7.0% cap · market cap 2.21%
Theoretical Best
Office A
$309.9K
$271.1K – $361.5K
NOI $21,690 @ 7.0% cap · market cap 3.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,322
Businesses Nearby
Under-served
Demand for This Use
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office condo with long-term tenant near Montclair Hospital.
Where is this medical office space located?
The property is located at 4950 San Bernardino St 216 Montclair, CA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Established tenant (pediatrician) with a new 3‑year lease signed 1/1/24, providing immediate rental income.; Net positive cash flow of approximately $2571 per month after HOA and property tax.; Unit is well‑equipped for medical use with a large waiting room, receptionist area, 3 exam rooms, 2 offices, nurse station, restroom, and storage.
