Renovated Storefront
New
For Sale
$1,250,000
376 N 2nd Ave, Upland, CA 91801
Retail building with street-facing commercial use potential and renovation work completed in 2024.
Property Size7,200 SF
Price / SF$173.61
Days on Market3
Property Features for 376 N 2nd Ave
General Information
Standard status
Active
Size
7,200 SF
Property subtype
Retail
Building Details
Building Size
7,200 SF
Year Built
1922
Year Renovated
2024
Buildings
1
Listing Agency:
Lee & Associates - Pasadena
(310) 428-7580
Listed By:
Robert Leveen · License #CalDRE #01476685
(310) 428-7580
Source:
Lee-associates
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 30 at 12:46AM
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 - Pasadena
Investment Insights
Based on property information with market context.
This storefront property at 376 N 2nd Ave in Upland, California, contains 7,200 SF of building area. Constructed in 1922, the building was renovated in 2024, combining its established architectural presence with more recent improvements. The property is positioned for retail or street retail use, providing a commercial setting suited to storefront-oriented operations.
The building’s Upland location places it within the local commercial market identified for the property. Its address is 376 N 2nd Ave, Upland, CA 91801. The combination of a 1922 construction date, 2024 renovation, and retail-oriented configuration gives prospective users a clear basis for evaluating the asset’s physical character and commercial application.
The building’s Upland location places it within the local commercial market identified for the property. Its address is 376 N 2nd Ave, Upland, CA 91801. The combination of a 1922 construction date, 2024 renovation, and retail-oriented configuration gives prospective users a clear basis for evaluating the asset’s physical character and commercial application.
Key Highlights
- 7,200 SF storefront property
- Built in 1922
- Renovated in 2024
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
$103,203
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
8.26%
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%
$2,064,060
$2.1M
Cap Rate 7%
$1,474,329
$1.5M
Cap Rate 9%
$1,146,700
$1.1M
Market Conditions
NOI Build-Up for 7,200 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
$155.5K $21.60/SF
− Vacancy
−$8.1K −$1.12/SF
EGI
$147.4K $20.48/SF
− OpEx
−$44.2K −$6.14/SF
NOI
$103.2K $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%
$2,064,060
Cap Rate 7%
$1,474,329
Cap Rate 9%
$1,146,700
Alternative Uses
Best Use
Retail
$1.47M
$1.29M – $1.72M
NOI $103,203 @ 7.0% cap · market cap 8.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,311 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,864
Businesses Nearby
8k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
7,557 visits/mo
0.4 miles
Demographics for 91801, CA
53,669
Population
21,702
Households
2.5
Avg Household Size
41
Median Age
41%
College-Educated
85%
High-School Grad
4.3 sq mi
ZIP Area
12,481
Density / Sq Mi
$85,549
Median Household Income
$47,855
Median Earnings
$1,879
Median Rent
$797,000
Median Home Value
Market
Vacancy Rate% for Retail 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?
Storefront property - Retail building with street-facing commercial use potential and renovation work completed in 2024.
Where is this storefront property located?
The property is located at 376 N 2nd Ave Upland, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 7,200 SF storefront property; Built in 1922; Renovated in 2024
