Downtown Crestline Multi-Unit Commercial
24028 Lake Dr, Crestline, CA 92325
For Sale
$1,130,000
Versatile commercial property in downtown Crestline with multiple units.
Property Size3,400 SF
Lot Size0.65 Acres
Days on Market245
Property Features for 24028 Lake Dr
General Information
Standard status
Size
Lot size
Property subtype
Building Details
Building Size
Year Built
Units
Listing Agency:
Coldwell Banker Sky Ridge Realty
Listed By:
Michelle Hutton · License #01124273
(909) 663-4433
Source:
Elliman
Added: Mar 10
Changed: Sep 3
Last Checked: Aug 14 at 6:03AM
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 Sky Ridge Realty
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Investment Insights
Based on property information with market context.
Located in downtown Crestline, this property was originally built for a real estate office but can accommodate various uses. Currently occupied by Mountain Hearts & Lives as one facility, it features five separate units, each with its own bathroom, and can be sectioned off for separate tenants. The property boasts architecture and construction quality. Situated on over half an acre, the property includes 25+ parking spaces. It is within walking distance of Lake Gregory, Goodwins Market, and the bowling alley, and across the street from Sleepy Hollow motel. The property is ADA compliant and suitable for various commercial uses, including a doctor's office, real estate office, law office, dental practice, or corporate office. It features a lobby area on the main level, multiple levels, office spaces, meeting areas, and multiple entry sites. The location is considered a year-round destination.
Key Highlights
- Premier downtown Crestline location on over half an acre.
- Features 5 separate units, each with its own bathroom, suitable for multiple tenants.
- 25+ parking spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,019
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$800,380
$800.4K
Cap Rate 7%
$571,700
$571.7K
Cap Rate 9%
$444,656
$444.7K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$57.9K $17.04/SF
− Vacancy
−$4.6K −$1.35/SF
EGI
$53.4K $15.69/SF
− OpEx
−$13.3K −$3.92/SF
NOI
$40.0K $11.77/SF
Area
San Bernardino County, CA
Vacancy
7.90%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$800,380
Cap Rate 7%
$571,700
Cap Rate 9%
$444,656
Alternative Uses
Best Use
Office B
$571.7K
$500.2K – $667.0K
NOI $40,019 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$717.2K
$627.5K – $836.7K
NOI $50,203 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
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Business Placement
Demographics for 92325, CA
9,892
Population
6,692
Households
1.5
Avg Household Size
45
Median Age
28%
College-Educated
90%
High-School Grad
8.7 sq mi
ZIP Area
1,137
Density / Sq Mi
$79,254
Median Household Income
$49,704
Median Earnings
$1,514
Median Rent
$358,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in San Bernardino County, CA
Properties on Market for Office buildings in San Bernardino County
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Versatile commercial property in downtown Crestline with multiple units.
Where is this office building located?
The property is located at 24028 Lake Dr Crestline, CA.
What is the asking price?
The asking price for this property is $1,130,000.
What are key features of this property?
This property features: Premier downtown Crestline location on over half an acre.; Features 5 separate units, each with its own bathroom, suitable for multiple tenants.; 25+ parking spaces.
