Versatile Multi-Structure Commercial
For Sale
$1,499,990
2048 Mentone Boulevard, Mentone, CA 92359
High-visibility location with multiple buildings and redevelopment potential.
Property Size7,602 SF
Lot Size0.81 Acres
Price / SF$197.32
Days on Market399
Property Features for 2048 Mentone Boulevard
General Information
Standard status
Active
Size
7,602 SF
Lot size
0.81 Acres
Property subtype
Office
Amenities
3
3 Parking Spaces. Carport.
Level
Level.
Building Details
Year Built
1927
Listing Agency:
Re/Max Time Realty
(909) 373-0880
Listed By:
Robert Mendez · License #01971883
Source:
Xome
Added: Jul 23, 2025
Changed: Aug 25
Last Checked: Aug 25 at 7:01AM
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 Time Realty
Investment Insights
Based on property information with market context.
This multi-structure commercial property is situated on a 0.81-acre lot with high visibility along Highway 38. The site features a Victorian house/office with approximately 3,186 square feet, built in 1860 by William B. McIntosh, the founder of Mentone. The structure has been restored and renovated, preserving the original design, with recently replaced and upgraded electrical systems. The roof is approximately 10 years old and in good condition. Additional structures include a guest house and studio/creative room totaling approximately 1,416 square feet, and a two-story warehouse/workshop of approximately 3,000 square feet. The warehouse roof is newer, about a couple years old. Ample paved parking is available, along with several covered RV parking spots. Located next to a new Dollar General and within the Highway 38 Commercial Corridor, the location benefits from high daily traffic exposure of approximately 17,000 cars per day and convenient access. The property is suitable for various businesses, including retail/showroom, auto sales and services, hospitality, restaurant/café, professional/medical offices, personal services, education, trades/light commercial, contractor office with dry storage, and e-commerce/micro-fulfillment. The high traffic exposure and square-shaped lot also present a redevelopment opportunity.
Key Highlights
- High‑visibility 0.81‑acre lot on Hwy 38 with approximately 17,000 cars per day.
- Versatile multi‑structure commercial property including a ±3,186 SF Victorian house/office, ±1,416 SF guest house/studio, and ±3,000 SF warehouse/workshop.
- Prime redevelopment opportunity.
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
$108,965
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
7.26%
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%
$2,179,300
$2.2M
Cap Rate 7%
$1,556,643
$1.6M
Cap Rate 9%
$1,210,722
$1.2M
Market Conditions
NOI Build-Up for 7,602 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
$164.2K $21.60/SF
− Vacancy
−$8.5K −$1.12/SF
EGI
$155.7K $20.48/SF
− OpEx
−$46.7K −$6.14/SF
NOI
$109.0K $14.33/SF
Area
San Bernardino County, CA
Vacancy
5.20%
Lease Rate
$21.60 /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%
$2,179,300
Cap Rate 7%
$1,556,643
Cap Rate 9%
$1,210,722
Alternative Uses
Best Use
Retail
$1.56M
$1.36M – $1.82M
NOI $108,965 @ 7.0% cap · market cap 7.26%
Second Best
Office B
$1.28M
$1.12M – $1.49M
NOI $89,478 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,247 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
270
Businesses Nearby
Explore this area
Business Placement
Demographics for 92359, CA
8,900
Population
3,483
Households
2.6
Avg Household Size
37
Median Age
25%
College-Educated
88%
High-School Grad
19.2 sq mi
ZIP Area
464
Density / Sq Mi
$74,408
Median Household Income
$43,251
Median Earnings
$1,270
Median Rent
$411,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - High-visibility location with multiple buildings and redevelopment potential.
Where is this mixed-use property located?
The property is located at 2048 Mentone Boulevard Mentone, CA.
What is the asking price?
The asking price for this property is $1,499,990.
What are key features of this property?
This property features: High‑visibility 0.81‑acre lot on Hwy 38 with approximately 17,000 cars per day.; Versatile multi‑structure commercial property including a ±3,186 SF Victorian house/office, ±1,416 SF guest house/studio, and ±3,000 SF warehouse/workshop.; Prime redevelopment opportunity.
