Renovated Historic
For Sale
$1,250,000
376 N 2nd Ave, Upland, CA 91801
Retail-oriented building combines 1922 construction with a 2024 renovation and substantial commercial floor area.
Property Size7,200 SF
Days on Market12
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
Listing Agency:
Lee & Associates - Pasadena
Listed By:
Robert Leveen · License #CalDRE #01476685
(310) 428-7580
Source:
Lee-associates
Added: Aug 23
Changed: Aug 31
Last Checked: Sep 2 at 3:16PM
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.
Located at 367 N 2nd Ave in Upland, California, this 7,200-square-foot storefront building dates to 1922 and underwent renovation in 2024. The property offers a combination of older architectural character and updated functionality within a substantial commercial footprint.
The building is positioned for retail or street retail use, providing a dedicated storefront format for commercial occupancy. Its Upland address places the property within the city’s commercial environment, with the site identified as 367 N 2nd Ave, Upland, CA 91801.
The building is positioned for retail or street retail use, providing a dedicated storefront format for commercial occupancy. Its Upland address places the property within the city’s commercial environment, with the site identified as 367 N 2nd Ave, Upland, CA 91801.
Key Highlights
- 7,200 SF storefront building
- 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-oriented building combines 1922 construction with a 2024 renovation and substantial commercial floor area.
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 building; Built in 1922; Renovated in 2024
