Drive-Through Absolute NNN
For Sale
Contact for pricing
1634 E HIGHLAND AVE, San Bernardino, CA 92404
Leased-fee Walgreens with drive-thru, corporate guarantee, and absolute NNN structure with zero landlord responsibilities.
Property Size14,418 SF
Price / SF$348.18
Days on Market197
Property Features for 1634 E HIGHLAND AVE
General Information
Standard status
Active
Size
14,418 SF
Total Parking Spaces
74
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Net Operating Income
$389,028
Site & Location
Neighborhood
Drnag
Building Details
Year Built
2003
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
CBRE - Orange County
Listed By:
Jay Gomez · License #CA 01364065
(831) 325-9847
Source:
Crexi
Added: Apr 10
Changed: Oct 13
Last Checked: Oct 23 at 3:52AM
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 CBRE - Orange County
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Investment Insights
Based on property information with market context.
SRS National Net Lease Group presents the leased fee interest in a Walgreens absolute NNN, ground-leased investment property featuring a drive-thru. The lease is corporate guaranteed and structured as absolute NNN with zero landlord responsibilities.
The property is located at 1634 E Highland Ave, San Bernardino, CA 92404. Walgreens has approximately 4 years remaining in the initial lease term, with 7 (5-year) option periods to extend.
The next 10% rental increase for Walgreens is scheduled to take effect in July 2022 at the beginning of the next option period. The offering is priced based off the July 2022 rent.
The property is located at 1634 E Highland Ave, San Bernardino, CA 92404. Walgreens has approximately 4 years remaining in the initial lease term, with 7 (5-year) option periods to extend.
The next 10% rental increase for Walgreens is scheduled to take effect in July 2022 at the beginning of the next option period. The offering is priced based off the July 2022 rent.
Key Highlights
- Leased‑fee Walgreens investment in San Bernardino, CA with drive‑thru
- Absolute NNN ground lease with zero landlord responsibilities
- Corporate‑guaranteed lease with approximately 4 years remaining in the initial term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$194,979
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,899,580
$3.9M
Cap Rate 7%
$2,785,414
$2.8M
Cap Rate 9%
$2,166,433
$2.2M
Market Conditions
NOI Build-Up for 14,418 SF
Gross rent
$297.6K $20.64/SF
− Vacancy
−$19.0K −$1.32/SF
EGI
$278.5K $19.32/SF
− OpEx
−$83.6K −$5.80/SF
NOI
$195.0K $13.52/SF
Area
San Bernardino, CA
Vacancy
6.40%
Lease Rate
$20.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,899,580
Cap Rate 7%
$2,785,414
Cap Rate 9%
$2,166,433
Alternative Uses
Best Use
Retail
$2.79M
$2.44M – $3.25M
NOI $194,979 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.34M
$3.80M – $5.07M
NOI $303,955 @ 7.0% cap · market cap 6.05%
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
Location Intelligence
Trade Area within ½ mile
910
Businesses Nearby
353k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 24%
Groceries 23%
Home Improvements & Furnishings 4%
Stater Bros. Markets
Groceries
44,306 visits/mo
0.2 miles
McDonald's
Dining
41,389 visits/mo
0.1 miles
Cardenas Market
Groceries
38,502 visits/mo
0.5 miles
dd's DISCOUNTS
Shops & Services
26,485 visits/mo
0.1 miles
Bank of America
Shops & Services
21,954 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
NNN property - Leased-fee Walgreens with drive-thru, corporate guarantee, and absolute NNN structure with zero landlord responsibilities.
Where is this nnn property located?
The property is located at 1634 E HIGHLAND AVE San Bernardino, CA.
What is the asking price?
The asking price for this property is $5,020,000.
What are key features of this property?
This property features: Leased‑fee Walgreens investment in San Bernardino, CA with drive‑thru; Absolute NNN ground lease with zero landlord responsibilities; Corporate‑guaranteed lease with approximately 4 years remaining in the initial term
