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Mixed-Use Property with Development Potential

23382 Crest Forest Dr, Crestline, CA 92325

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For Sale

$419,000

Versatile property with income streams and development opportunities in Crestline.

Type:Commercial

Property size:

1,760 SF

Lot size:

0.17 Acres

Price / SF:

$238/SF

Listing Contact

Raffy Krikorian

Real Estate License ID: 02022762,PersonLicenseNumber

HighLights

Includes adjacent 5,000 SF vacant lot for expansion or development.
Mixed‑use property with multiple income streams from existing tenants.
Ample parking spaces, a rare and valuable amenity.
Street‑level storefront and lower‑level office space are currently rented.
Loft‑style space and separate studio unit offer flexible use (office, residential, live/work).
Conveniently located near Crestline Village and Lake Gregory.

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For Sale

$419,000

Versatile property with income streams and development opportunities in Crestline.

Type:Commercial

Property size:

1,760 SF

Lot size:

0.17 Acres

Price / SF:

$238/SF

Added:: Apr 24, 2026
Days on Market:: 49
Last Refresh:: Apr 24 at 5:48 pm

Property Features for 23382 Crest Forest Dr

General Information

Standard status: Active
Size: 1,760 SF
Lot size: 0.17 Acres
Property subtype: Commercial

Building Details

Year Built: 1945

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Listing Contact

Raffy Krikorian

Listing agent Raffy Krikorian License #02022762,PersonLicenseNumber

Listing office NextHome, Inc

Listing date Apr 24, 2026

Source Elliman

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 NextHome, Inc

HighLights

Includes adjacent 5,000 SF vacant lot for expansion or development.
Mixed‑use property with multiple income streams from existing tenants.
Ample parking spaces, a rare and valuable amenity.
Street‑level storefront and lower‑level office space are currently rented.
Loft‑style space and separate studio unit offer flexible use (office, residential, live/work).
Conveniently located near Crestline Village and Lake Gregory.

Overview

Located at 23382 Crest Forest Dr, this mixed-use property offers both residential and commercial possibilities in a mountain location. The property includes the adjacent vacant parcel at 23376 Crest Forest Dr, providing added flexibility, expansion potential, or future development opportunities. The existing structure, approximately 1,760 SF, features a street-level storefront currently leased on a month-to-month basis, suitable for retail, storage, or creative commercial use. This level includes a private bathroom. Above, a loft-style space with its own bathroom offers additional flexibility for office, residential, or live/work use. Below the main level, there is an office space currently rented month-to-month, as well as a separate studio unit with a private bathroom that will be delivered vacant. The property provides parking spaces. Situated on a 2,500 SF lot, the sale also includes the adjacent vacant parcel at 23376 Crest Forest Dr which sits on a 5,000 SF lot. With multiple income streams, flexible tenancy, and the inclusion of an adjacent vacant lot, this mixed-use property presents a unique opportunity for investors, owner-users, or those looking to create a custom live/work mountain retreat. It is conveniently located near Crestline Village, Lake Gregory, and local shops and dining.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$38.0k	$21.60
− Vacancy	−$2.0k	−$1.12
EGI	$36.0k	$20.48
− OpEx	−$10.8k	−$6.14
NOI	$25.2k	$14.33

1,760 SF · lease $21.60/SF/yr · vacancy 5.20% · expense 30.00%

Alternative Uses

Best Use

Retail

$360.4K

$315.3K – $420.5K (±1% cap)

NOI $25,227 @ 7.0% cap · market cap 6.02%

Second Best

Office B

$295.9K

$259.0K – $345.3K (±1% cap)

NOI $20,716 @ 7.0% cap · market cap 4.94%

Theoretical Best

Office A

$371.2K

$324.8K – $433.1K (±1% cap)

NOI $25,987 @ 7.0% cap · market cap 6.20%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Storefront properties

Map

City: Crestline
County: San Bernardino
State: California
Longitude: -117.2932305
Latitude: 34.2394255

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For sale
Mixed-use properties
CA
Crestline
92325
23382 Crest Forest Dr

What type of property is this?

Mixed-use property - Versatile property with income streams and development opportunities in Crestline.

Where is this mixed-use property located?

The property is located at 23382 Crest Forest Dr Crestline, CA.

What is the asking price?

The asking price for this property is $419,000.

What are key features of this property?

This property features: Includes adjacent **5,000 SF vacant lot for expansion or development.**; Mixed‑use property with multiple income streams from existing tenants.; **Ample parking spaces**, a rare and valuable amenity.