Multi-Tenant Office Building with Surplus
222 Mountain Avenue Upland, CA 91876
For Sale
$8,699,400
Opportunity Zone office building on excess land with C/O-MU zoning for office, medical, and retail uses.
Property Size43,367 SF
Lot Size3.16 Acres
Price / SF$200.60
Days on Market156
Property Features for 222 Mountain Avenue
General Information
Standard status
Active
Size
43,367 SF
Lot size
3.16 Acres
Property subtype
Mixed Use
Building Details
Year Built
1979
Listing Agency:
MGR REAL ESTATE, INC.
(909) 981-4466
Listed By:
Sangaroon Yangchana · License #01518762
Source:
Xome
Added: Feb 24
Changed: Jul 10
Last Checked: Jul 15 at 8:52PM
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 MGR REAL ESTATE, INC.
Investment Insights
Based on property information with market context.
222 N. Mountain Avenue is a multi-tenant office asset on a 3.16-acre site made up of three contiguous parcels. The property includes a 43,290-square-foot office building and approximately 45,509 square feet of surplus land distributed across two additional parcels, creating meaningful development and expansion optionality alongside existing improvements.
Zoned Commercial/Office Mixed-Use (C/O-MU), the site supports a broad range of office, medical, and retail uses within a campus-style environment. The property is located within a designated Opportunity Zone.
For investors, developers, or owner-users, the combination of an in-place office component and excess land can support near- and long-term strategies that may include expansion, ground-up development, or repositioning. The asset is presented as a stabilized office offering, with the Opportunity Zone designation noted as a potential consideration for tax advantages while maintaining flexibility under the C/O-MU zoning framework.
Zoned Commercial/Office Mixed-Use (C/O-MU), the site supports a broad range of office, medical, and retail uses within a campus-style environment. The property is located within a designated Opportunity Zone.
For investors, developers, or owner-users, the combination of an in-place office component and excess land can support near- and long-term strategies that may include expansion, ground-up development, or repositioning. The asset is presented as a stabilized office offering, with the Opportunity Zone designation noted as a potential consideration for tax advantages while maintaining flexibility under the C/O-MU zoning framework.
Key Highlights
- Opportunity Zone property at 222 N. Mountain Avenue with corner lot on a 3.16‑acre site
- 43,290‑SF multi‑tenant office building built in 1979
- Surplus land totals approximately 45,509 SF across two additional contiguous parcels
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $739.0k | $17.04 |
| − Vacancy | −$58.4k | −$1.35 |
| EGI | $680.6k | $15.69 |
| − OpEx | −$170.1k | −$3.92 |
| NOI | $510.4k | $11.77 |
43,367 SF · lease $17.04/SF/yr · vacancy 7.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$7.29M
$6.38M – $8.51M
NOI $510,446 @ 7.0% cap · market cap 5.87%
Second Best
Healthcare Medical
$5.14M
$4.49M – $5.99M
NOI $359,469 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$9.15M
$8.00M – $10.67M
NOI $640,334 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Opportunity Zone office building on excess land with C/O-MU zoning for office, medical, and retail uses.
Where is this office building located?
The property is located at 222 Mountain Avenue Upland, CA.
What is the asking price?
The asking price for this property is $8,699,400.
What are key features of this property?
This property features: Opportunity Zone property at 222 N. Mountain Avenue with corner lot on a 3.16‑acre site; 43,290‑SF multi‑tenant office building built in 1979; Surplus land totals approximately 45,509 SF across two additional contiguous parcels
