Shopping Center with Large Parking
For Sale
$1,150,000
16937 Walnut Street, Hesperia, CA 92345
COMMERCIAL - Hesperia, CA
Property Size7,863 SF
Price / SF$146.25
Days on Market188
Property Features for 16937 Walnut Street
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
HWY 15 to Main St , right on E Ave
Subdivision
HSP - Hesperia
Standard status
Active
APN
0410172300000
Utilities
Cooling system
Central Air
Building Details
Year built
1988
Listing Agency:
RE/MAX FREEDOM · RE/MAX International
(760) 488-6471
Listed By:
Kimberly Jarrard · License #01840446
(760) 887-1122
Added: Feb 7
Changed: Aug 4
Last Checked: Aug 14 at 6:06PM
MLS# HD26028592
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale shopping center totals approximately 7,863+/- square feet and is situated on Walnut Street. The property includes a large parking lot described as offering ample parking, supporting convenient customer access.
Located in an established commercial corridor, the center is presented as having good visibility and access. The public remarks note proximity to major roadways, residential neighborhoods, and local businesses.
The current configuration is marketed as flexible for a variety of uses, including restaurant, service businesses, church, professional users, or other creative ventures. The offering is positioned as an opportunity to own a commercial shopping center in Hesperia.
Located in an established commercial corridor, the center is presented as having good visibility and access. The public remarks note proximity to major roadways, residential neighborhoods, and local businesses.
The current configuration is marketed as flexible for a variety of uses, including restaurant, service businesses, church, professional users, or other creative ventures. The offering is positioned as an opportunity to own a commercial shopping center in Hesperia.
Key Highlights
- 7,863+/- SF commercial shopping center on Walnut Street in Hesperia
- Large parking lot with ample parking
- Central air cooling
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
$74,662
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
6.49%
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%
$1,493,240
$1.5M
Cap Rate 7%
$1,066,600
$1.1M
Cap Rate 9%
$829,578
$829.6K
Market Conditions
NOI Build-Up for 7,863 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
$113.2K $14.40/SF
− Vacancy
−$6.6K −$0.84/SF
EGI
$106.7K $13.56/SF
− OpEx
−$32.0K −$4.07/SF
NOI
$74.7K $9.50/SF
Area
Hesperia, CA
Vacancy
5.80%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,493,240
Cap Rate 7%
$1,066,600
Cap Rate 9%
$829,578
Alternative Uses
Best Use
Retail
$1.07M
$933.3K – $1.24M
NOI $74,662 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,103 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
178k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Groceries 34%
Dining 19%
Beauty & Spa 1%
Cardenas Market
Groceries
32,423 visits/mo
0.5 miles
Stater Bros. Markets
Groceries
27,667 visits/mo
0.2 miles
dd's DISCOUNTS
Shops & Services
18,897 visits/mo
0.3 miles
Dollar Tree
Shops & Services
16,548 visits/mo
0.2 miles
Fastrip
Shops & Services
14,890 visits/mo
0.2 miles
Demographics for 92345, CA
86,499
Population
27,247
Households
3.2
Avg Household Size
34
Median Age
11%
College-Educated
77%
High-School Grad
98.9 sq mi
ZIP Area
875
Density / Sq Mi
$65,949
Median Household Income
$37,235
Median Earnings
$1,499
Median Rent
$359,700
Median Home Value
Market
Vacancy Rate% for Retail 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?
Shopping center - Shopping center offered for sale with a large parking lot in an established commercial corridor.
Where is this shopping center located?
The property is located at 16937 Walnut Street Hesperia, CA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 7,863+/- SF commercial shopping center on Walnut Street in Hesperia; Large parking lot with ample parking; Central air cooling
