Unfinished Commercial Property in Apple
For Sale
$6,500,000
22311 Bear Valley, Apple Valley, CA 92308
Unfinished commercial property on 11 acres in Apple Valley.
Property Size52,000 SF
Lot Size11.00 Acres
Price / SF$185.71
Days on Market176
Property Features for 22311 Bear Valley
General Information
Standard status
Active
Size
52,000 SF
Lot size
11.00 Acres
Property subtype
Retail
Zoning
Commercial
Building Details
Building Size
52,000 SF
Year Built
2007
Stories
1
Listing Agency:
Coldwell Banker Commercial Real Estate Solutions
(760) 684-8000
Listed By:
Paul Leon · License #00915214
(760) 684-8000
Source:
Cbcworldwide
Added: Mar 5
Changed: Aug 26
Last Checked: Aug 14 at 7:22AM
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 Coldwell Banker Commercial Real Estate Solutions
Investment Insights
Based on property information with market context.
Located at the high-traffic intersection of Bear Valley Road and Central Road, Apple Valley Plaza is an unfinished commercial property spanning approximately 11 acres. The development includes multiple structures in various stages of completion. The main commercial building is 35,000 square feet, accompanied by a 10,000-square-foot retail building and a 5,000-square-foot building suitable for office or service use. Additionally, there are two 5,000-square-foot fast-food pads and one 7,000-square-foot retail pad. This property offers an opportunity for investors or developers to complete and customize a commercial center in a visible corridor of Apple Valley. The location benefits from high traffic and visibility, surrounded by established retail and residential developments, presenting an excellent opportunity to reposition a prime commercial center in a rapidly growing market.
Key Highlights
- High‑traffic, high‑visibility location at the intersection of Bear Valley Road and Central Road.
- Substantial 11‑acre lot size.
- Multiple structures in various stages of completion, offering flexible development options.
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
$501,682
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
7.72%
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%
$10,033,640
$10.0M
Cap Rate 7%
$7,166,886
$7.2M
Cap Rate 9%
$5,574,244
$5.6M
Market Conditions
NOI Build-Up for 35,000 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
$756.0K $21.60/SF
− Vacancy
−$39.3K −$1.12/SF
EGI
$716.7K $20.48/SF
− OpEx
−$215.0K −$6.14/SF
NOI
$501.7K $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%
$10,033,640
Cap Rate 7%
$7,166,886
Cap Rate 9%
$5,574,244
Alternative Uses
Best Use
Retail
$7.17M
$6.27M – $8.36M
NOI $501,682 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.38M
$6.46M – $8.61M
NOI $516,792 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92308, CA
42,469
Population
14,995
Households
2.8
Avg Household Size
41
Median Age
17%
College-Educated
87%
High-School Grad
103.2 sq mi
ZIP Area
412
Density / Sq Mi
$63,484
Median Household Income
$41,882
Median Earnings
$1,390
Median Rent
$360,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Apple Valley Plaza — Apple Valley, CA 92308
Frequently Asked Questions
What type of property is this?
Shopping center - Unfinished commercial property on 11 acres in Apple Valley.
Where is this shopping center located?
The property is located at 22311 Bear Valley Apple Valley, CA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: High‑traffic, high‑visibility location at the intersection of Bear Valley Road and Central Road.; Substantial 11‑acre lot size.; Multiple structures in various stages of completion, offering flexible development options.
