Multi-Tenant Office
New
For Sale
$1,099,000
18387 Us Highway 18, Apple Valley, CA 92307
Medical and professional office property with remodeled suites, customer parking, and dedicated spaces for employees and ownership.
Property Size8,195 SF
Price / SF$134.11
Days on Market1
Property Features for 18387 Us Highway 18
General Information
Standard status
Active
Size
8,195 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1958
Buildings
1
Building Size
8,195 SF
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Alam Realty
Listed By:
Mohammad Alam · License #01457818
(855) 225-2526
Source:
Myfabuloushome
Added: Sep 5
Last Checked: Sep 5 at 3:10PM
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 Alam Realty
Investment Insights
Based on property information with market context.
This 8,195 SF multi-tenant office building, constructed in 1958, supports medical and professional office use within the Desert Knolls Medical District. Units 1 and 2 have been fully remodeled into a turnkey medical office, while Unit 5A has also received a complete renovation. The property has an established tenant mix and has been professionally maintained during the current ownership period.
The building occupies a visible position at the intersection of Highway 18 and Corwin Road in Apple Valley, with Highway 18 frontage and a distinctive clock tower. Customer parking is provided at the front, with separate rear parking for employees and business owners. Providence St. Mary Medical Center is located diagonally across the intersection, adding established medical context to the surrounding area.
The building occupies a visible position at the intersection of Highway 18 and Corwin Road in Apple Valley, with Highway 18 frontage and a distinctive clock tower. Customer parking is provided at the front, with separate rear parking for employees and business owners. Providence St. Mary Medical Center is located diagonally across the intersection, adding established medical context to the surrounding area.
Key Highlights
- 8,195 SF multi‑tenant medical and professional office building
- Located at Highway 18 and Corwin Road in Apple Valley's Desert Knolls Medical District
- Outstanding Highway 18 frontage with a distinctive clock tower
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
$96,458
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
8.78%
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%
$1,929,160
$1.9M
Cap Rate 7%
$1,377,971
$1.4M
Cap Rate 9%
$1,071,756
$1.1M
Market Conditions
NOI Build-Up for 8,195 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
$139.6K $17.04/SF
− Vacancy
−$11.0K −$1.35/SF
EGI
$128.6K $15.69/SF
− OpEx
−$32.2K −$3.92/SF
NOI
$96.5K $11.77/SF
Area
San Bernardino County, CA
Vacancy
7.90%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,929,160
Cap Rate 7%
$1,377,971
Cap Rate 9%
$1,071,756
Alternative Uses
Best Use
Office B
$1.38M
$1.21M – $1.61M
NOI $96,458 @ 7.0% cap · market cap 8.78%
Second Best
Healthcare Medical
$970.4K
$849.1K – $1.13M
NOI $67,928 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,003 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,209
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Medical and professional office property with remodeled suites, customer parking, and dedicated spaces for employees and ownership.
Where is this office building located?
The property is located at 18387 Us Highway 18 Apple Valley, CA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: 8,195 SF multi‑tenant medical and professional office building; Located at Highway 18 and Corwin Road in Apple Valley's Desert Knolls Medical District; Outstanding Highway 18 frontage with a distinctive clock tower
