Light Industrial Flex
For Sale
$1,280,000
398 10th, Colton, CA 92324
Fully fenced corner lot with two buildings, covered loading area, and guard house use, zoned M1 with grandfathered yard.
Property Size5,615 SF
Price / SF$227.96
Days on Market252
Property Features for 398 10th
General Information
Standard status
Active
Size
5,615 SF
Property subtype
Industrial
Zoning
M1
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Dock-High Doors
1
Amenities
Electric
3
Composition
Building Details
Year Built
1950
Listing Agency:
Re/Max Time Realty
(909) 373-0880
Listed By:
Xiaoyu Qin-Hsieh · License #01771096
(626) 861-7786
Source:
Xome
Added: Dec 27, 2025
Changed: Sep 2
Last Checked: Sep 4 at 4:17AM
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 Re/Max Time Realty
Investment Insights
Based on property information with market context.
This light industrial flex yard includes two separate buildings and multiple access points on a fully fenced corner lot. One primary building combines warehouse and office space, along with a separate covered loading dock/work area. A second metal building provides additional storage, and there is a smaller building by the entrance that functions as a guard house. The combined buildings total 5,600 square feet and include their own electric meters.
The property is zoned light industrial M1, with retail and a contractor’s yard use grandfathered in. Public remarks indicate high density buildings are permitted. Located in central Colton with easy Freeway 10 access, the site offers a contractor-yard style configuration with a range of potential uses discussed in the remarks.
Utilities include water and electricity on, and sewer is connected. Public remarks note the site previously operated as the Spencer and Jones Service Station for many years.
The property is zoned light industrial M1, with retail and a contractor’s yard use grandfathered in. Public remarks indicate high density buildings are permitted. Located in central Colton with easy Freeway 10 access, the site offers a contractor-yard style configuration with a range of potential uses discussed in the remarks.
Utilities include water and electricity on, and sewer is connected. Public remarks note the site previously operated as the Spencer and Jones Service Station for many years.
Key Highlights
- Fully fenced corner lot with two separate buildings plus a guard house at the entrance
- Zoned M1 light industrial with retail; contractor’s yard use is grandfathered in
- Two buildings total 5,600 sqft with a covered loading dock/work area
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
$55,990
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
4.37%
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%
$1,119,800
$1.1M
Cap Rate 7%
$799,857
$799.9K
Cap Rate 9%
$622,111
$622.1K
Market Conditions
NOI Build-Up for 5,615 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
$70.1K $12.48/SF
− Vacancy
−$4.2K −$0.75/SF
EGI
$65.9K $11.73/SF
− OpEx
−$9.9K −$1.76/SF
NOI
$56.0K $9.97/SF
Area
San Bernardino County, CA
Vacancy
6.00%
Lease Rate
$12.48 /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%
$1,119,800
Cap Rate 7%
$799,857
Cap Rate 9%
$622,111
Alternative Uses
Best Use
Warehouse
$799.9K
$699.9K – $933.2K
NOI $55,990 @ 7.0% cap · market cap 4.37%
Second Best
Industrial
$658.7K
$576.4K – $768.5K
NOI $46,109 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,908 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92324, CA
58,626
Population
19,150
Households
3.1
Avg Household Size
33
Median Age
16%
College-Educated
75%
High-School Grad
27.8 sq mi
ZIP Area
2,109
Density / Sq Mi
$69,419
Median Household Income
$36,956
Median Earnings
$1,600
Median Rent
$413,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fully fenced corner lot with two buildings, covered loading area, and guard house use, zoned M1 with grandfathered yard.
Where is this flex space located?
The property is located at 398 10th Colton, CA.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: Fully fenced corner lot with two separate buildings plus a guard house at the entrance; Zoned M1 light industrial with retail; contractor’s yard use is grandfathered in; Two buildings total 5,600 sqft with a covered loading dock/work area
