Building Details

Year built 1946

Listing Agency: Keller Williams Legacy · Keller Williams Realty k***@kw.com Show Phone

Listed By: Cyrus Peinado · License #02139231 Show Phone

Added: Aug 27, 2024 Changed: Aug 19 Last Checked: Aug 22 at 5:06PM

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MLS# PW24198346

Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

26374 Apache Trail is a commercial property used as an additional lot for the equipment rental business “Lake Arrowhead Rentals Inc.” The building is a two-story single-family home built in 1946 and currently described as being in distressed condition.

According to the seller’s remarks, the home was the first office of the local newspaper “The Mountain News” when it opened in the 1950s. The property is located in Rimforest close to Lake Arrowhead at an elevation of 5,600 feet.

The property is being sold together with the adjacent property at 26321–26325 Pine Ave and the Lake Arrowhead Rentals equipment rental business, with all inventory and equipment included.

Key Highlights

• Built in 1946; two‑story single‑family home used as an additional lot for Lake Arrowhead Rentals Inc. equipment rental business
• Located on a 1/3‑acre lot in Rimforest near Lake Arrowhead at an elevation of 5,600 feet
• Property is in distressed condition

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

$11,770

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

4.71%

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%

$235,400 $235.4K

Cap Rate 7%

$168,143 $168.1K

Cap Rate 9%

$130,778 $130.8K

Market Conditions

NOI Build-Up for 1,000 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

$17.0K $17.04/SF

− Vacancy

−$1.3K −$1.35/SF

EGI

$15.7K $15.69/SF

− OpEx

−$3.9K −$3.92/SF

NOI

$11.8K $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 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%

$235,400

Cap Rate 7%

$168,143

Cap Rate 9%

$130,778

Alternative Uses

Best Use

Office B

$168.1K

$147.1K – $196.2K (±1% cap)

NOI $11,770 @ 7.0% cap · market cap 4.71%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$210.9K

$184.6K – $246.1K (±1% cap)

NOI $14,765 @ 7.0% cap · market cap 5.91%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Office buildings

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

230

Businesses Nearby

Explore this area Business Placement

Demographics for 92378, CA

677

Population

336

Households

2

Avg Household Size

44

Median Age

32%

College-Educated

78%

High-School Grad

0.8 sq mi

ZIP Area

846

Density / Sq Mi

$70,515

Median Household Income

$66,645

Median Earnings

$1,278

Median Rent

$350,000

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Office building - Built in 1946 and in distressed condition, this two-story office building is used as part of an equipment rental site.

Where is this office building located?

The property is located at 26374 Apache Trail Rimforest, CA.

What is the asking price?

The asking price for this property is $250,000.

What are key features of this property?

This property features: Built in 1946; two‑story single‑family home used as an additional lot for Lake Arrowhead Rentals Inc. equipment rental business; Located on a 1/3‑acre lot in Rimforest near Lake Arrowhead at an elevation of 5,600 feet; Property is in distressed condition