Industrial Building with Fenced
For Sale
Contact for pricing
280 E Drake Dr, San Bernardino, CA
Free-standing industrial building with office space and fenced yard.
Property Size9,458 SF
Lot Size0.53 Acres
Price / SF$253.75
Days on Market394
Property Features for 280 E Drake Dr
General Information
Standard status
Active
Size
9,458 SF
Lot size
0.53 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Lee & Associates
(951) 276-3643
Listed By:
Jonathan Pauls · License #01417045
(951) 276-3643
Source:
Moodyscre
Added: Jul 9, 2025
Changed: Jul 6
Last Checked: Jul 21 at 6:55AM
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 Lee & Associates
Investment Insights
Based on property information with market context.
This free-standing industrial building features 825 square feet of office space and a warehouse with 18-foot ceilings. The property includes a fenced yard area. It offers access to the 10 and 215 Freeways. The building's total size is 9,458 square feet.
Key Highlights
- Great access to 10 & 215 Fwys
- Free standing building
- 18' warehouse ceiling
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
$105,158
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
4.38%
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%
$2,103,160
$2.1M
Cap Rate 7%
$1,502,257
$1.5M
Cap Rate 9%
$1,168,422
$1.2M
Market Conditions
NOI Build-Up for 9,458 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
$135.1K $14.28/SF
− Vacancy
−$11.3K −$1.20/SF
EGI
$123.7K $13.08/SF
− OpEx
−$18.6K −$1.96/SF
NOI
$105.2K $11.12/SF
Area
San Bernardino, CA
Vacancy
8.40%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
15.00%
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%
$2,103,160
Cap Rate 7%
$1,502,257
Cap Rate 9%
$1,168,422
Alternative Uses
Best Use
Warehouse
$1.50M
$1.31M – $1.75M
NOI $105,158 @ 7.0% cap · market cap 4.38%
Second Best
Industrial
$1.27M
$1.12M – $1.49M
NOI $89,235 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,390 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Free-standing industrial building with office space and fenced yard.
Where is this warehouse located?
The property is located at 280 E Drake Dr San Bernardino, CA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Great access to 10 & 215 Fwys; Free standing building; 18' warehouse ceiling
