Multi-Tenant Retail
For Sale
Contact for pricing
155-167 E Highland Ave, San Bernardino, CA 92404
Multi-tenant retail building with five street-level units available for investment or owner-occupancy.
Property Size6,618 SF
Lot Size0.33 Acres
Price / SF$194.92
Days on Market1431
Property Features for 155-167 E Highland Ave
General Information
Standard status
Active
Size
6,618 SF
Lot size
0.33 Acres
Property subtype
Office, Retail
Zoning
Commercial
Investment Type
Owner/User
Building Details
Year Built
1961
Units
4
Tenancy
Multi
Listing Agency:
NAI Capital - Ontario
(909) 762-5489
Listed By:
Lidia Talavera · License #CA 01407598
Source:
Crexi
Added: Sep 10, 2022
Changed: Aug 7
Last Checked: Aug 10 at 2:55PM
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 NAI Capital - Ontario
Investment Insights
Based on property information with market context.
This retail multi-tenant building includes five units ranging from 956 to 1,650 square feet, totaling approximately 6,618 square feet of street retail area. The property sits on approximately 14,280 square feet of land and is configured for multiple independent tenants.
The building is located at 155–167 E Highland Ave in San Bernardino, CA. Public remarks note the center’s proximity to St. Bernardine Hospital and that available rents are on month-to-month lease terms.
According to the offering materials, most current tenants are on month-to-month and may be interested in executing longer-term leases. The property is being presented as suitable for an investor or an owner-occupied buyer.
The building is located at 155–167 E Highland Ave in San Bernardino, CA. Public remarks note the center’s proximity to St. Bernardine Hospital and that available rents are on month-to-month lease terms.
According to the offering materials, most current tenants are on month-to-month and may be interested in executing longer-term leases. The property is being presented as suitable for an investor or an owner-occupied buyer.
Key Highlights
- 5‑unit multi‑tenant street retail building at 155–167 E Highland Ave, San Bernardino, CA 92404
- Approx. 6,618 SF retail center on approx. 14,280 SF of land
- Unit mix totals 5 street‑level spaces ranging from 956 SF to 1,650 SF
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
$113,198
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
8.78%
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%
$2,263,960
$2.3M
Cap Rate 7%
$1,617,114
$1.6M
Cap Rate 9%
$1,257,756
$1.3M
Market Conditions
NOI Build-Up for 6,618 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
$166.8K $25.20/SF
− Vacancy
−$15.8K −$2.39/SF
EGI
$150.9K $22.81/SF
− OpEx
−$37.7K −$5.70/SF
NOI
$113.2K $17.10/SF
Area
San Bernardino, CA
Vacancy
9.50%
Lease Rate
$25.20 /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%
$2,263,960
Cap Rate 7%
$1,617,114
Cap Rate 9%
$1,257,756
Alternative Uses
Best Use
Office B
$1.62M
$1.41M – $1.89M
NOI $113,198 @ 7.0% cap · market cap 8.78%
Second Best
Healthcare Medical
$1.46M
$1.28M – $1.70M
NOI $102,142 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$1.99M
$1.74M – $2.33M
NOI $139,518 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,653
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92404, CA
64,270
Population
19,403
Households
3.3
Avg Household Size
31
Median Age
10%
College-Educated
72%
High-School Grad
31.6 sq mi
ZIP Area
2,034
Density / Sq Mi
$66,173
Median Household Income
$36,237
Median Earnings
$1,386
Median Rent
$383,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Multi-tenant retail building with five street-level units available for investment or owner-occupancy.
Where is this storefront property located?
The property is located at 155-167 E Highland Ave San Bernardino, CA.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: 5‑unit multi‑tenant street retail building at 155–167 E Highland Ave, San Bernardino, CA 92404; Approx. 6,618 SF retail center on approx. 14,280 SF of land; Unit mix totals 5 street‑level spaces ranging from 956 SF to 1,650 SF
