Flex Space with Warehouse
New
For Sale
$1,200,000
1460 Miller, Colton, CA 92324
M-1 light industrial property combines warehouse, office, conference, and yard areas in Colton.
Property Size5,325 SF
Lot Size0.44 Acres
Days on Market3
Property Features for 1460 Miller
General Information
Standard status
Active
Size
5,325 SF
Lot size
0.44 Acres
Property subtype
Industrial
Zoning
M-1
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
4,000 SF
Drive-In Doors
2
Power
100 amps
Three-Phase Power
Yes
Building Details
Building Size
5,325 SF
Year Built
1984
Stories
2
Construction
steel structure
Listing Agency:
North South Realty
Listed By:
GREGG HOLT · License #01748493
(951) 907-9274
Source:
Camdenmckayre
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 22 at 4:45PM
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 North South Realty
Investment Insights
Based on property information with market context.
This Flex Space property includes an approximately 4,000-square-foot ground-level warehouse and approximately 1,125 square feet of upper-level office and cubicle area, plus an approximately 200-square-foot conference and lounge room. The building has a heavy-duty steel frame, metal panel exterior, approximately 16-foot clear height, two 14-foot by 14-foot roll-up doors, 100 AMP 3-phase power, and multiple high-voltage areas. Three restrooms serve the building, with two on the first floor and one upstairs.
Situated on a level 19,300-square-foot lot with approximately 206 feet of frontage along Miller Drive, the property includes open yard area for parking and business operations. The Colton location provides access to Inland Empire freeways and surrounding business centers. The source describes the property as M-1 Light Industrial and notes potential future expansion subject to City approval; buyers should independently verify zoning, permitted uses, dimensions, power, and building areas.
Situated on a level 19,300-square-foot lot with approximately 206 feet of frontage along Miller Drive, the property includes open yard area for parking and business operations. The Colton location provides access to Inland Empire freeways and surrounding business centers. The source describes the property as M-1 Light Industrial and notes potential future expansion subject to City approval; buyers should independently verify zoning, permitted uses, dimensions, power, and building areas.
Key Highlights
- Approximately 4,000 SF ground‑level warehouse on a 19,300 SF lot
- Approximately 1,125 SF of upper‑level office and cubicle space plus a 200 SF conference/lounge area
- Approximately 16' clear height with two 14' x 14' roll‑up doors
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
$53,098
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
4.42%
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%
$1,061,960
$1.1M
Cap Rate 7%
$758,543
$758.5K
Cap Rate 9%
$589,978
$590.0K
Market Conditions
NOI Build-Up for 5,325 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
$66.5K $12.48/SF
− Vacancy
−$4.0K −$0.75/SF
EGI
$62.5K $11.73/SF
− OpEx
−$9.4K −$1.76/SF
NOI
$53.1K $9.97/SF
Area
San Bernardino County, CA
Vacancy
6.00%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
15.00%
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%
$1,061,960
Cap Rate 7%
$758,543
Cap Rate 9%
$589,978
Alternative Uses
Best Use
Warehouse
$758.5K
$663.7K – $885.0K
NOI $53,098 @ 7.0% cap · market cap 4.42%
Second Best
Industrial
$624.7K
$546.6K – $728.8K
NOI $43,728 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.12M
$982.8K – $1.31M
NOI $78,626 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92324, CA
58,626
Population
19,150
Households
3.1
Avg Household Size
33
Median Age
16%
College-Educated
75%
High-School Grad
27.8 sq mi
ZIP Area
2,109
Density / Sq Mi
$69,419
Median Household Income
$36,956
Median Earnings
$1,600
Median Rent
$413,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Las Ploras — 1017 N 10th St, Colton, CA 92324
- Beau’s Snack Bar — 1013 Virginia Ave, Colton, CA 92324
Frequently Asked Questions
What type of property is this?
Flex space - M-1 light industrial property combines warehouse, office, conference, and yard areas in Colton.
Where is this flex space located?
The property is located at 1460 Miller Colton, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approximately 4,000 SF ground‑level warehouse on a 19,300 SF lot; Approximately 1,125 SF of upper‑level office and cubicle space plus a 200 SF conference/lounge area; Approximately 16' clear height with two 14' x 14' roll‑up doors
