Remodeled Industrial Building For
For Sale
$2,600,000
199 HILLCREST Avenue, San Bernardino, CA 92405
Remodeled 14,235 SF industrial building with possible seller financing.
Property Size14,400 SF
Price / SF$182.65
Days on Market351
Property Features for 199 HILLCREST Avenue
General Information
Standard status
Active
Size
14,400 SF
Property subtype
Warehouse
Building Details
Building Size
14,400 SF
Year Built
1968
Listing Agency:
JACKSON RIVERO PROPERTIES, INC
(951) 236-6958
Listed By:
RICK JACKSON · License #01258003
Source:
Velocityrealtysd
Added: Sep 14, 2025
Changed: Aug 28
Last Checked: Aug 29 at 3:12PM
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 JACKSON RIVERO PROPERTIES, INC
Investment Insights
Based on property information with market context.
This is a 14,235 square foot industrial building that has been completely remodeled. The building includes 1,287 square feet of office and restroom space. Seller financing may be available up to 50% loan-to-value.
Key Highlights
- Possible seller financing up to 50% LTV
- Completely remodeled industrial building
- Total Building Area: 14,235 SF
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
$134,306
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
5.17%
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%
$2,686,120
$2.7M
Cap Rate 7%
$1,918,657
$1.9M
Cap Rate 9%
$1,492,289
$1.5M
Market Conditions
NOI Build-Up for 14,235 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
$205.0K $14.40/SF
− Vacancy
−$13.1K −$0.92/SF
EGI
$191.9K $13.48/SF
− OpEx
−$57.6K −$4.04/SF
NOI
$134.3K $9.43/SF
Area
San Bernardino, CA
Vacancy
6.40%
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%
$2,686,120
Cap Rate 7%
$1,918,657
Cap Rate 9%
$1,492,289
Alternative Uses
Best Use
Industrial
$1.92M
$1.68M – $2.24M
NOI $134,306 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.29M
$3.75M – $5.00M
NOI $300,097 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,057
Businesses Nearby
Explore this area
Business Placement
Demographics for 92405, CA
32,165
Population
9,727
Households
3.3
Avg Household Size
31
Median Age
13%
College-Educated
74%
High-School Grad
5.0 sq mi
ZIP Area
6,433
Density / Sq Mi
$59,271
Median Household Income
$32,066
Median Earnings
$1,424
Median Rent
$376,800
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?
Industrial property - Remodeled 14,235 SF industrial building with possible seller financing.
Where is this industrial property located?
The property is located at 199 HILLCREST Avenue San Bernardino, CA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Possible seller financing up to 50% LTV; Completely remodeled industrial building; Total Building Area: 14,235 SF
