Corner Village Storefront
For Sale
$1,499,000
Pending
40728 Village Drive, Big Bear Lake, CA 92315
CommercialSale, Big Bear Lake, CA
Property Size3,774 SF
Lot Size0.10 Acres
Days on Market405
Property Features for 40728 Village Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Village Specific Plan
Interior features
Storage
Lot features
Level
Subdivision
Big Bear Lake Central
Standard status
Pending
APN
0308-166-35-0000
Lot size
0.10 Acres
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1956
Floors in Building
2
Roof type
Rolled Hot Mop
Additional Structures
Storage
Listing Agency:
Keller Williams Big Bear · Keller Williams Realty
(909) 805-4141
Listed By:
Mike Dolan · License #00752899
(909) 866-6453
Added: Jul 23, 2025
Changed: Aug 26
Last Checked: Aug 31 at 8:06PM
MLS# 32501822
Copyright © 2026 Mountain Resort Communities Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit retail building provides 2,890 square feet of sales area on the main floor, complemented by 884 square feet of storage below. The property is currently occupied by the Village Nut House and The Crows Nest, supporting an established retail configuration within the building. Natural-gas forced-air heating serves the interior, while a rolled hot-mop roof and 1956 construction date provide additional building context.
The storefront sits at the corner of Village Drive and Cottage Lane in Big Bear Lake. Its position on the north side of Village Drive gives the building southern exposure. The lower level adds dedicated storage capacity to the retail layout.
The storefront sits at the corner of Village Drive and Cottage Lane in Big Bear Lake. Its position on the north side of Village Drive gives the building southern exposure. The lower level adds dedicated storage capacity to the retail layout.
Key Highlights
- 2,890 square feet of main‑level retail space
- 884 square feet of lower‑level storage
- Retail duplex at Village Drive and Cottage Lane
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
$54,096
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
3.61%
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%
$1,081,920
$1.1M
Cap Rate 7%
$772,800
$772.8K
Cap Rate 9%
$601,067
$601.1K
Market Conditions
NOI Build-Up for 3,774 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
$81.5K $21.60/SF
− Vacancy
−$4.2K −$1.12/SF
EGI
$77.3K $20.48/SF
− OpEx
−$23.2K −$6.14/SF
NOI
$54.1K $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%
$1,081,920
Cap Rate 7%
$772,800
Cap Rate 9%
$601,067
Alternative Uses
Best Use
Retail
$772.8K
$676.2K – $901.6K
NOI $54,096 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$796.1K
$696.6K – $928.8K
NOI $55,725 @ 7.0% cap · market cap 3.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
64k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 28%
Hotels & Casinos 15%
Jack in the Box
Dining
25,080 visits/mo
0.1 miles
Chevron
Shops & Services
16,734 visits/mo
0.3 miles
Jasper's
Dining
11,536 visits/mo
0.2 miles
Holiday Inn Resort The Lodge at Big Bear Lake
Hotels & Casinos
9,371 visits/mo
0.2 miles
The UPS Store
Shops & Services
1,313 visits/mo
0.1 miles
Demographics for 92315, CA
5,148
Population
9,861
Households
0.5
Avg Household Size
51
Median Age
34%
College-Educated
92%
High-School Grad
29.4 sq mi
ZIP Area
175
Density / Sq Mi
$79,293
Median Household Income
$43,778
Median Earnings
$1,278
Median Rent
$538,200
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.
Frequently Asked Questions
What type of property is this?
Storefront property - Two retail spaces occupy the main level, with lower-level storage and natural-gas forced-air heating.
Where is this storefront property located?
The property is located at 40728 Village Drive Big Bear Lake, CA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: 2,890 square feet of main‑level retail space; 884 square feet of lower‑level storage; Retail duplex at Village Drive and Cottage Lane
