Leased Service-Oriented Retail
For Sale
$8,950,000
420-424 E Hospitality Lane, San Bernardino, CA 92408
100% leased service-oriented retail center with fully NNN leases and recent roof, HVAC, and common area improvements.
Property Size20,780 SF
Days on Market194
Property Features for 420-424 E Hospitality Lane
General Information
Standard status
Active
Size
20,780 SF
Property subtype
Retail
Occupancy
100%
Net Operating Income
$608,856
Building Details
Building Size
20,780 SF
Tenancy
Multi
Listing Agency:
Progressive Real Estate Partners
Listed By:
Greg Bedell, CCIM · License #CalDRE #01942970
(951) 479-7994
Source:
Progressiverep
Added: Apr 11
Changed: Oct 7
Last Checked: Oct 20 at 5:54PM
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 Progressive Real Estate Partners
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Tri-City Commons (TCC) is a 100% leased service-oriented retail center featuring 13 tenants designed to serve the surrounding office, commercial, and industrial hub. The property is fully NNN, with leases that place responsibility for property taxes, insurance, and CAM on the tenant and include no caps on those expenses.
TCC is situated at the heart of the Tri-City Corporate Centre at 420-424 E Hospitality Ln in San Bernardino, CA. Recent capital improvements include a new 15-year roof with transferable warranty (2018), approximately 60% brand-new HVAC units (2018 to today), remodeled common area restrooms (2019), a new full camera monitoring system (2021), upgraded LED common area lighting (2021), and parking stall overlays/re-striping (2022).
With stabilized occupancy and multiple completed building and site upgrades, TCC is positioned for an income-focused ownership experience under a fully NNN structure.
TCC is situated at the heart of the Tri-City Corporate Centre at 420-424 E Hospitality Ln in San Bernardino, CA. Recent capital improvements include a new 15-year roof with transferable warranty (2018), approximately 60% brand-new HVAC units (2018 to today), remodeled common area restrooms (2019), a new full camera monitoring system (2021), upgraded LED common area lighting (2021), and parking stall overlays/re-striping (2022).
With stabilized occupancy and multiple completed building and site upgrades, TCC is positioned for an income-focused ownership experience under a fully NNN structure.
Key Highlights
- Tri‑City Commons (TCC) is 100% leased service‑oriented commercial center in the Tri‑City Corporate Centre.
- Includes 13 service‑oriented, e‑commerce resistant tenants serving the surrounding office/commercial/industrial hub.
- All leases are fully NNN with no caps on property taxes, insurance, or CAM.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$281,015
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,620,300
$5.6M
Cap Rate 7%
$4,014,500
$4.0M
Cap Rate 9%
$3,122,389
$3.1M
Market Conditions
NOI Build-Up for 20,780 SF
Gross rent
$428.9K $20.64/SF
− Vacancy
−$27.4K −$1.32/SF
EGI
$401.4K $19.32/SF
− OpEx
−$120.4K −$5.80/SF
NOI
$281.0K $13.52/SF
Area
San Bernardino, CA
Vacancy
6.40%
Lease Rate
$20.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,620,300
Cap Rate 7%
$4,014,500
Cap Rate 9%
$3,122,389
Alternative Uses
Best Use
Retail
$4.01M
$3.51M – $4.68M
NOI $281,015 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.26M
$5.48M – $7.30M
NOI $438,076 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,092
Businesses Nearby
506k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Shops & Services 14%
Home Improvements & Furnishings 11%
Hotels & Casinos 6%
The Home Depot
Home Improvements & Furnishings
54,011 visits/mo
0.3 miles
Olive Garden
Dining
32,891 visits/mo
0.2 miles
McDonald's
Dining
29,656 visits/mo
0.4 miles
Buffalo Wild Wings
Dining
23,710 visits/mo
0.3 miles
Chili's Grill & Bar
Dining
22,460 visits/mo
0.1 miles
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 Retail in West region
Similar Off Market Nearby
- Boot Barn SB — 464 E Redlands Blvd, San Bernardino, CA 92408
- Tri-City Retail Shops — 1991 Diners Ct, San Bernardino, CA 92408
- Dispensario — 100 W Hospitality Ln, San Bernardino, CA 92408
- Tri-City Center — 891 Harriman Pl, San Bernardino, CA 92408
- The Hub — 1055 Harriman Pl, San Bernardino, CA 92408
Frequently Asked Questions
What type of property is this?
Shopping center - 100% leased service-oriented retail center with fully NNN leases and recent roof, HVAC, and common area improvements.
Where is this shopping center located?
The property is located at 420-424 E Hospitality Lane San Bernardino, CA.
What is the asking price?
The asking price for this property is $8,950,000.
What are key features of this property?
This property features: Tri‑City Commons (TCC) is 100% leased service‑oriented commercial center in the Tri‑City Corporate Centre.; Includes 13 service‑oriented, e‑commerce resistant tenants serving the surrounding office/commercial/industrial hub.; All leases are fully NNN with no caps on property taxes, insurance, or CAM.
