Single-Story Flex Industrial
For Sale
$795,000
1846 W 11th, Upland, CA 91786
Commercial Sale, Upland, CA
Property Size2,267 SF
Price / SF$350.68
Days on Market335
Property Features for 1846 W 11th
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
East of Central South of Foothill Blvd
Subdivision
690 - Upland
Standard status
Active
APN
1007291450000
Utilities
Cooling system
Central Air
Building Details
Year built
1989
Listing Agency:
Century 21 Masters · Century 21 Real Estate
(909) 985-4600
Listed By:
Sharon Kobold · License #00587812
(909) 228-3336
Added: Sep 30, 2025
Changed: Aug 26
Last Checked: Aug 30 at 7:06AM
MLS# CV25229019
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 2,267 sq. ft. single-story industrial condo combines a front office of approximately 200 sq. ft. with a large warehouse area. The office has framed walls for administrative or customer-facing functions, while the warehouse includes soaring ceilings and an extra-wide roll-up door. A private bathroom with hot water is positioned at the rear, and central air serves the property. Brick-facing exteriors contribute to the clean presentation of the unit.
Built in 1989, the property is located within the 11th Street Business Park in Upland. Regional access is supported by proximity to the 10, 210, and 15/57 Freeways. The configuration accommodates industrial, distribution, warehouse, showroom, specialty, office, or storage uses as described in the property information.
Built in 1989, the property is located within the 11th Street Business Park in Upland. Regional access is supported by proximity to the 10, 210, and 15/57 Freeways. The configuration accommodates industrial, distribution, warehouse, showroom, specialty, office, or storage uses as described in the property information.
Key Highlights
- 2,267 sq. ft. single‑story industrial condo
- Front office measures approximately 200 sq. ft. and has framed walls
- Warehouse features soaring ceilings and an extra‑wide roll‑up door
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
$22,605
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
2.84%
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%
$452,100
$452.1K
Cap Rate 7%
$322,929
$322.9K
Cap Rate 9%
$251,167
$251.2K
Market Conditions
NOI Build-Up for 2,267 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
$28.3K $12.48/SF
− Vacancy
−$1.7K −$0.75/SF
EGI
$26.6K $11.73/SF
− OpEx
−$4.0K −$1.76/SF
NOI
$22.6K $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%
$452,100
Cap Rate 7%
$322,929
Cap Rate 9%
$251,167
Alternative Uses
Best Use
Warehouse
$322.9K
$282.6K – $376.8K
NOI $22,605 @ 7.0% cap · market cap 2.84%
Second Best
Industrial
$265.9K
$232.7K – $310.3K
NOI $18,616 @ 7.0% cap · market cap 2.34%
Theoretical Best
Office A
$478.2K
$418.4K – $557.9K
NOI $33,473 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,581
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 91786, CA
55,763
Population
20,094
Households
2.8
Avg Household Size
36
Median Age
30%
College-Educated
88%
High-School Grad
8.9 sq mi
ZIP Area
6,266
Density / Sq Mi
$86,961
Median Household Income
$43,050
Median Earnings
$1,923
Median Rent
$607,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Warehouse area pairs with office space, a private bathroom, central air, and an extra-wide roll-up door.
Where is this flex space located?
The property is located at 1846 W 11th Upland, CA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 2,267 sq. ft. single‑story industrial condo; Front office measures approximately 200 sq. ft. and has framed walls; Warehouse features soaring ceilings and an extra‑wide roll‑up door
