Ground-Floor Medical Office
For Sale
$6,650,000
101-260 E Ontario Ave, Corona, CA 92882
Owner-user medical office condo combining available space with in-place NNN lease income.
Property Size13,462 SF
Price / SF$493.98
Days on Market583
Property Features for 101-260 E Ontario Ave
General Information
Standard status
Active
Size
13,462 SF
Additional Details
Floor
Ground Floor
Asking Price
$6,650,000
Office Units
3
Building Details
Year Built
2008
Tenancy
Multi
Listing Agency:
Economos Dewolf, Inc.
(949) 576-2751
Listed By:
Geoffrey Dewolf · License #01319312
(949) 576-2751
Source:
Exprealty
Added: Jan 15, 2025
Changed: Aug 18
Last Checked: Aug 20 at 9:59AM
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 Economos Dewolf, Inc.
Investment Insights
Based on property information with market context.
This ground-floor medical office condominium contains 13,462 SF and is configured for owner-user occupancy alongside in-place income. An 8,607-SF suite is available for occupancy, while two additional suites are subject to NNN leases extending through 2034. The property was built in 2008.
Located within Corona South Main Medical Plaza at 260 E Ontario Ave, the property includes a solar installation comprising 268 panels added in 2019. Restaurants and other amenities are within walking distance, adding convenience for staff, patients, and visitors.
Located within Corona South Main Medical Plaza at 260 E Ontario Ave, the property includes a solar installation comprising 268 panels added in 2019. Restaurants and other amenities are within walking distance, adding convenience for staff, patients, and visitors.
Key Highlights
- 13,462‑SF ground‑floor medical office condominium
- 8,607‑SF suite available for an owner‑user
- Two suites leased on NNN terms through 2034
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
$222,931
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
3.35%
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%
$4,458,620
$4.5M
Cap Rate 7%
$3,184,729
$3.2M
Cap Rate 9%
$2,477,011
$2.5M
Market Conditions
NOI Build-Up for 13,462 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
$403.9K $30.00/SF
− Vacancy
−$32.3K −$2.40/SF
EGI
$371.6K $27.60/SF
− OpEx
−$148.6K −$11.04/SF
NOI
$222.9K $16.56/SF
Area
Corona, CA
Vacancy
8.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$4,458,620
Cap Rate 7%
$3,184,729
Cap Rate 9%
$2,477,011
Alternative Uses
Best Use
Healthcare Medical
$3.18M
$2.79M – $3.72M
NOI $222,931 @ 7.0% cap · market cap 3.35%
Second Best
Office B
$2.97M
$2.60M – $3.47M
NOI $207,907 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$4.19M
$3.66M – $4.89M
NOI $293,105 @ 7.0% cap · market cap 4.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
733
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92882, CA
67,894
Population
20,757
Households
3.3
Avg Household Size
36
Median Age
29%
College-Educated
85%
High-School Grad
11.8 sq mi
ZIP Area
5,754
Density / Sq Mi
$100,668
Median Household Income
$46,092
Median Earnings
$2,093
Median Rent
$653,600
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 - Owner-user medical office condo combining available space with in-place NNN lease income.
Where is this medical office space located?
The property is located at 101-260 E Ontario Ave Corona, CA.
What is the asking price?
The asking price for this property is $6,650,000.
What are key features of this property?
This property features: 13,462‑SF ground‑floor medical office condominium; 8,607‑SF suite available for an owner‑user; Two suites leased on NNN terms through 2034
