Two-Unit Strip
For Sale
$995,000
3667-3669 Highland Avenue, Highland, CA 92346
Retail property with flexible occupancy options and recent exterior improvements along a primary commercial corridor.
Property Size4,320 SF
Days on Market150
Property Features for 3667-3669 Highland Avenue
General Information
Standard status
Active
Size
4,320 SF
Property subtype
Retail - Strip
Building Details
Building Size
4,320 SF
Listing Agency:
Progressive Real Estate Partners
(901) 277-3093
Listed By:
Lance Mordachini · License #02153137
Source:
Commercialcafe
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 6:10AM
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 Progressive Real Estate Partners
Investment Insights
Based on property information with market context.
This 4,320-square-foot retail property contains two separate units, supporting owner occupancy in one suite with the option to lease the other. The interior configuration can also be consolidated by removing the dividing wall, allowing use of the full building as one space. Recent capital improvements include a new roof, façade, canopy, and lighting.
The property is positioned at 3667–3669 Highland Avenue in Highland, California, at the signalized intersection of Palm Avenue and Highland Avenue. The intersection records approximately 29,540 cars per day, while the surrounding five-mile trade area includes more than 179,000 residents. Nearby demand drivers identified for the area include Yaamava Resort & Casino, medical uses, and new housing.
The property is positioned at 3667–3669 Highland Avenue in Highland, California, at the signalized intersection of Palm Avenue and Highland Avenue. The intersection records approximately 29,540 cars per day, while the surrounding five-mile trade area includes more than 179,000 residents. Nearby demand drivers identified for the area include Yaamava Resort & Casino, medical uses, and new housing.
Key Highlights
- 4,320‑square‑foot retail property at 3667–3669 Highland Avenue
- Two‑unit layout supports separate occupancy or rental use
- Dividing wall can be removed to create one larger suite
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
$61,922
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
6.22%
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%
$1,238,440
$1.2M
Cap Rate 7%
$884,600
$884.6K
Cap Rate 9%
$688,022
$688.0K
Market Conditions
NOI Build-Up for 4,320 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
$93.3K $21.60/SF
− Vacancy
−$4.9K −$1.12/SF
EGI
$88.5K $20.48/SF
− OpEx
−$26.5K −$6.14/SF
NOI
$61.9K $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%
$1,238,440
Cap Rate 7%
$884,600
Cap Rate 9%
$688,022
Alternative Uses
Best Use
Retail
$884.6K
$774.0K – $1.03M
NOI $61,922 @ 7.0% cap · market cap 6.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$911.2K
$797.3K – $1.06M
NOI $63,787 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
65k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 44%
Dining 32%
Shops & Services 23%
Stater Bros. Markets
Groceries
28,978 visits/mo
0.1 miles
Jack in the Box
Dining
13,410 visits/mo
0.0 miles
Mobil
Shops & Services
8,586 visits/mo
0.1 miles
Del Taco
Dining
5,536 visits/mo
0.1 miles
7-Eleven
Shops & Services
3,460 visits/mo
0.1 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?
Strip mall - Retail property with flexible occupancy options and recent exterior improvements along a primary commercial corridor.
Where is this strip mall located?
The property is located at 3667-3669 Highland Avenue Highland, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 4,320‑square‑foot retail property at 3667–3669 Highland Avenue; Two‑unit layout supports separate occupancy or rental use; Dividing wall can be removed to create one larger suite
