Turnkey Entertainment Destination in
For Sale
Contact for pricing
197 E 2nd St, Pomona, CA 91766
Fully renovated, multi-level entertainment destination in vibrant Downtown Pomona Arts Colony.
Property Size17,500 SF
Price / SF$397.14
Days on Market205
Property Features for 197 E 2nd St
General Information
Standard status
Active
Size
17,500 SF
Class
B
Property subtype
Retail
Zoning
C
Investment Type
Owner/User
Building Details
Year Built
1932
Year Renovated
2014
Buildings
1
Stories
4
Tenancy
Single
Listing Agency:
eXp Commercial
(818) 433-0548
Listed By:
Karl Markarian · License #CA 01932970
Source:
Crexi
Added: Jan 28
Changed: Aug 8
Last Checked: Aug 18 at 2:40PM
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 eXp Commercial
Investment Insights
Based on property information with market context.
This 17,500 square-foot building has been fully renovated as of 2025, with over $1,000,000 invested in upgrades. It features four distinct venues, including an intimate speakeasy and a grand ballroom-style event space. The property is located in the heart of the Downtown Pomona Arts Colony, recognized as one of the most significant cultural districts in the Inland Empire. It is within walking distance of the Metrolink station and Western University and benefits from a Federal Opportunity Zone designation. All furniture, fixtures, and equipment are included in the sale, as is a Type 47 liquor license, allowing for the operation of up to five bars. The property is situated at the epicenter of the Pomona Arts Colony, blending arts, commerce, education, and urban living. The location benefits from consistent foot traffic driven by the Second Saturday Art Walk, multiple galleries, the Latino Art Museum, the American Museum of Ceramic Arts, and nearby landmarks including the Fox Theater and the Glass House. Surrounded by antique row, restaurants, cafés, and nightlife, the property is strategically positioned within a vibrant, year-round destination environment.
Key Highlights
- Fully renovated (2025) 17,500 sq ft turnkey entertainment venue with over $1,000,000 in upgrades.
- Located in the heart of the Downtown Pomona Arts Colony, a vibrant and high‑traffic cultural district.
- Features four distinct venues, including a speakeasy and grand ballroom, catering to a diverse clientele.
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
$271,565
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
3.91%
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%
$5,431,300
$5.4M
Cap Rate 7%
$3,879,500
$3.9M
Cap Rate 9%
$3,017,389
$3.0M
Market Conditions
NOI Build-Up for 17,500 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
$378.0K $21.60/SF
− Vacancy
−$15.9K −$0.91/SF
EGI
$362.1K $20.69/SF
− OpEx
−$90.5K −$5.17/SF
NOI
$271.6K $15.52/SF
Area
Pomona, CA
Vacancy
4.21%
Lease Rate
$21.60 /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%
$5,431,300
Cap Rate 7%
$3,879,500
Cap Rate 9%
$3,017,389
Alternative Uses
Best Use
Specialty Retail
$3.88M
$3.39M – $4.53M
NOI $271,565 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.61M
$4.91M – $6.55M
NOI $392,784 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,209
Businesses Nearby
148k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 43%
Electronics 1%
McDonald's
Dining
22,896 visits/mo
0.4 miles
Bank of America
Shops & Services
20,562 visits/mo
0.2 miles
Chase Bank
Shops & Services
16,010 visits/mo
0.2 miles
Jack in the Box
Dining
14,686 visits/mo
0.3 miles
Wells Fargo
Shops & Services
13,675 visits/mo
0.4 miles
Demographics for 91766, CA
70,701
Population
20,217
Households
3.5
Avg Household Size
34
Median Age
20%
College-Educated
71%
High-School Grad
10.1 sq mi
ZIP Area
7,000
Density / Sq Mi
$77,699
Median Household Income
$34,705
Median Earnings
$1,776
Median Rent
$568,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Freezzone Raspados — 1285 S Garey Ave unit l, Pomona, CA 91766
- The Paradox Arcade + Bar — 396 S Thomas St, Pomona, CA 91766
- Green Room Cocktail Lounge & Chow — 150 W 3rd St, Pomona, CA 91766
- Twilight — 888 w 10th st, pomona, ca 91766
- The Fox Theater Pomona — 301 S Garey Ave, Pomona, CA 91766
Frequently Asked Questions
What type of property is this?
Night club - Fully renovated, multi-level entertainment destination in vibrant Downtown Pomona Arts Colony.
Where is this night club located?
The property is located at 197 E 2nd St Pomona, CA.
What is the asking price?
The asking price for this property is $6,950,000.
What are key features of this property?
This property features: Fully renovated (2025) **17,500 sq ft turnkey entertainment venue with over $1,000,000 in upgrades.**; Located in the heart of the Downtown Pomona Arts Colony, a vibrant and high‑traffic cultural district.; Features four distinct venues, including a speakeasy and grand ballroom, catering to a diverse clientele.
