San Bernardino Warehouse With Fenced
For Sale
$3,872,960
378 Commercial Rd, San Bernardino, CA 92408
14,896 SF warehouse in San Bernardino County for sale.
Property Size14,896 SF
Price / SF$260
Days on Market172
Property Features for 378 Commercial Rd
General Information
Standard status
Active
Size
14,896 SF
Class
C
Property subtype
Industrial
Building Details
Building Size
14,896 SF
Year Built
2007
Listing Agency:
Lee & Associates - Riverside
(951) 276-3632
Listed By:
Herrick Johnson · License #CalDRE #01013436
Source:
Lee-associates
Added: Mar 4
Changed: Aug 8
Last Checked: Aug 23 at 2:58AM
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 - Riverside
Investment Insights
Based on property information with market context.
This 14,896 square foot warehouse, located in San Bernardino County, is available for sale. The property includes a fenced yard. It is currently leased through October 31, 2026.
Key Highlights
- 14,896 sq ft Warehouse
- Leased Through 10/31/2026
- Fenced Yard
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
$165,620
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
4.28%
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%
$3,312,400
$3.3M
Cap Rate 7%
$2,366,000
$2.4M
Cap Rate 9%
$1,840,222
$1.8M
Market Conditions
NOI Build-Up for 14,896 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
$212.7K $14.28/SF
− Vacancy
−$17.9K −$1.20/SF
EGI
$194.8K $13.08/SF
− OpEx
−$29.2K −$1.96/SF
NOI
$165.6K $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%
$3,312,400
Cap Rate 7%
$2,366,000
Cap Rate 9%
$1,840,222
Alternative Uses
Best Use
Warehouse
$2.37M
$2.07M – $2.76M
NOI $165,620 @ 7.0% cap · market cap 4.28%
Second Best
Industrial
$2.01M
$1.76M – $2.34M
NOI $140,542 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$4.49M
$3.93M – $5.23M
NOI $314,032 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
753
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92408, CA
13,488
Population
4,403
Households
3.1
Avg Household Size
32
Median Age
19%
College-Educated
73%
High-School Grad
10.5 sq mi
ZIP Area
1,285
Density / Sq Mi
$63,696
Median Household Income
$32,122
Median Earnings
$1,314
Median Rent
$407,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Extra Space Storage — 155 W Club Center Dr, San Bernardino, CA 92408
- StorQuest Self Storage — 194 Commercial Rd, San Bernardino, CA 92408
- Self Storage — 194 Commercial Rd, San Bernardino, CA 92408
- Regal Storage Inc — 194 Commercial Rd, San Bernardino, CA 92408
Frequently Asked Questions
What type of property is this?
Warehouse - 14,896 SF warehouse in San Bernardino County for sale.
Where is this warehouse located?
The property is located at 378 Commercial Rd San Bernardino, CA.
What is the asking price?
The asking price for this property is $3,872,960.
What are key features of this property?
This property features: 14,896 sq ft Warehouse; Leased Through 10/31/2026; Fenced Yard
