Apple Valley Medical Center
For Sale
$1,793,000
18056 Wika, Apple Valley, CA 92307
Centrally located medical building near St. Mary Medical Center.
Property Size9,295 SF
Lot Size5.62 Acres
Price / SF$199.22
Days on Market163
Property Features for 18056 Wika
General Information
Standard status
Active
Size
9,295 SF
Lot size
5.62 Acres
Property subtype
Commercial
Building Details
Building Size
9,295 SF
Year Built
1991
Units
4
Listing Agency:
Re/Max Freedom
(760) 701-0227
Listed By:
Lynda Thomasson · License #01516092
Source:
Elliman
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 21 at 8:55AM
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 Re/Max Freedom
Investment Insights
Based on property information with market context.
The Wika Medical Center is a centrally located medical and professional building in Apple Valley. The property offers over 9,000 square feet across four suites, situated on two parcels totaling more than 24,000 square feet. The location provides visibility, being one block west of St. Mary Medical Center. One suite features a fully approved Medicare-certified surgery center. The property has been well maintained with newer A/C units, both tile and carpeting, and minimal landscaping. Zoned General Commercial, the building offers flexibility for a variety of professional or medical uses. It is suitable for healthcare professionals or investors.
Key Highlights
- Prime location one block from St. Mary Medical Center.
- Over 9,000 sq. ft. medical/professional building with four suites.
- One suite is a fully approved Medicare‑certified surgery center.
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
$74,601
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
4.16%
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%
$1,492,020
$1.5M
Cap Rate 7%
$1,065,729
$1.1M
Cap Rate 9%
$828,900
$828.9K
Market Conditions
NOI Build-Up for 9,000 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
$135.0K $15.00/SF
− Vacancy
−$10.7K −$1.19/SF
EGI
$124.3K $13.82/SF
− OpEx
−$49.7K −$5.53/SF
NOI
$74.6K $8.29/SF
Area
San Bernardino County, CA
Vacancy
7.90%
Lease Rate
$15.00 /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%
$1,492,020
Cap Rate 7%
$1,065,729
Cap Rate 9%
$828,900
Alternative Uses
Best Use
Healthcare Medical
$1.07M
$932.5K – $1.24M
NOI $74,601 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,889 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,181
Businesses Nearby
Explore this area
Business Placement
Demographics for 92307, CA
41,649
Population
13,832
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
187.5 sq mi
ZIP Area
222
Density / Sq Mi
$74,715
Median Household Income
$39,014
Median Earnings
$1,379
Median Rent
$396,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Centrally located medical building near St. Mary Medical Center.
Where is this medical center located?
The property is located at 18056 Wika Apple Valley, CA.
What is the asking price?
The asking price for this property is $1,793,000.
What are key features of this property?
This property features: Prime location one block from St. Mary Medical Center.; Over 9,000 sq. ft. medical/professional building with four suites.; One suite is a fully approved Medicare‑certified surgery center.
