NNN Grocery Corner
For Sale
Contact for pricing
Pending
27550 Base Line St, Highland, CA 92346
Signalized corner retail property leased long-term to Smart & Final under an NNN structure with scheduled rent escalations.
Property Size27,524 SF
Days on Market122
Property Features for 27550 Base Line St
General Information
Standard status
Pending
Size
27,524 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Site & Location
Traffic Count
32,000 vehicles/day
Highway Access
Yes
Building Details
Year Built
2017
Tenancy
Single
Listing Agency:
NAI Capital - Pasadena
Listed By:
Dave Maron · License #CA 00620557
(626) 204-1516
Source:
Crexi
Added: May 9
Changed: Aug 8
Last Checked: Jul 24 at 8:24AM
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 NAI Capital - Pasadena
Investment Insights
Based on property information with market context.
This NNN investment property is leased long-term to Smart & Final Stores, LLC. The 20-year lease commenced in July 2018 and runs through June 2038, and the lease includes scheduled 7.5% rent increases every five years. Four (4) five-year extension options are also included, potentially extending the term through 2058.
The property is located at 27550 Base Line St in Highland, California, on a signalized corner with visibility and direct access. It sits just under a quarter mile from Interstate 210, which carries approximately 70,000 vehicles per day, and Base Line Street sees approximately 32,000 vehicles daily, supporting consistent traffic flow.
The asset is presented as part of an established retail trade area within the Inland Empire, with a described three-mile radius population of over 80,000 residents and nearby national tenants supporting day-to-day consumer activity.
The property is located at 27550 Base Line St in Highland, California, on a signalized corner with visibility and direct access. It sits just under a quarter mile from Interstate 210, which carries approximately 70,000 vehicles per day, and Base Line Street sees approximately 32,000 vehicles daily, supporting consistent traffic flow.
The asset is presented as part of an established retail trade area within the Inland Empire, with a described three-mile radius population of over 80,000 residents and nearby national tenants supporting day-to-day consumer activity.
Key Highlights
- 2017‑built signalized corner retail property at 27550 Base Line St in Highland, CA
- Long‑term NNN lease with Smart & Final Stores, LLC
- 20‑year lease commenced July 2018 and runs through June 2038 (about 12+ years remaining)
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
$394,522
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
4.05%
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%
$7,890,440
$7.9M
Cap Rate 7%
$5,636,029
$5.6M
Cap Rate 9%
$4,383,578
$4.4M
Market Conditions
NOI Build-Up for 27,524 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
$594.5K $21.60/SF
− Vacancy
−$30.9K −$1.12/SF
EGI
$563.6K $20.48/SF
− OpEx
−$169.1K −$6.14/SF
NOI
$394.5K $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%
$7,890,440
Cap Rate 7%
$5,636,029
Cap Rate 9%
$4,383,578
Alternative Uses
Best Use
Retail
$5.64M
$4.93M – $6.58M
NOI $394,522 @ 7.0% cap · market cap 4.05%
Second Best
Specialty Retail
$3.81M
$3.34M – $4.45M
NOI $266,926 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$5.81M
$5.08M – $6.77M
NOI $406,405 @ 7.0% cap · market cap 4.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
32,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
257k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 26%
Groceries 13%
McDonald's
Dining
45,334 visits/mo
0.4 miles
Smart & Final
Groceries
33,541 visits/mo
0.1 miles
Starbucks
Dining
27,191 visits/mo
0.1 miles
ARCO
Shops & Services
23,654 visits/mo
0.3 miles
Jack in the Box
Dining
19,754 visits/mo
0.3 miles
Demographics for 92346, CA
57,812
Population
18,075
Households
3.2
Avg Household Size
36
Median Age
25%
College-Educated
84%
High-School Grad
27.1 sq mi
ZIP Area
2,133
Density / Sq Mi
$84,818
Median Household Income
$40,066
Median Earnings
$1,654
Median Rent
$461,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Signalized corner retail property leased long-term to Smart & Final under an NNN structure with scheduled rent escalations.
Where is this nnn property located?
The property is located at 27550 Base Line St Highland, CA.
What is the asking price?
The asking price for this property is $9,750,000.
What are key features of this property?
This property features: 2017‑built signalized corner retail property at 27550 Base Line St in Highland, CA; Long‑term NNN lease with Smart & Final Stores, LLC; 20‑year lease commenced July 2018 and runs through June 2038 (about 12+ years remaining)
