San Bernardino Commercial Property
For Sale
$1,792,000
4240 Hallmark Pkwy, San Bernardino, CA 92407
Versatile commercial property suitable for medical, office, or warehouse use.
Property Size9,588 SF
Lot Size0.96 Acres
Price / SF$186.90
Days on Market156
Property Features for 4240 Hallmark Pkwy
General Information
Standard status
Active
Size
9,588 SF
Lot size
0.96 Acres
Property subtype
Commercial
Building Details
Building Size
9,588 SF
Year Built
1991
Listing Agency:
1000 Realty Corporation
(626) 445-6660
Listed By:
Benjamin Lin · License #01383988
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:53AM
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 1000 Realty Corporation
Investment Insights
Based on property information with market context.
This commercial property is suitable for medical office, general office, or warehouse use. The zoning also permits cannabis-related businesses. The property is located on Hallmark Parkway in San Bernardino, near Walmart and Lowe's, with convenient access to the 215 Freeway and proximity to Cal State San Bernardino. A shopping mall is also located on the same street. The surrounding area includes offices and warehouses occupied by various companies and firms, with a new warehouse located next door. The property features a 9,588 sq. ft. building on a 42,000 sq. ft. lot, with ample parking space. Constructed in 1991, the property includes a safety iron gate. The building features 8-foot ceilings on each floor. According to the listing, over $200,000 has been invested in repairs and upgrades. The large lot offers the potential to add an additional 5,000 to 10,000 sq. ft. of space. The zoning allows for warehouse and medical use. The property is suitable for various uses, including distribution, product showroom, processing center, medical office, general office space, a towing company, or a warehouse. Buyers should verify permitted uses. The seller may offer financing.
Key Highlights
- Large 42,000 sq. ft. lot with a 9,588 sq. ft. building and ample parking.
- Prime location near Walmart, Lowe's, the 215 Freeway, and Cal State San Bernardino.
- Zoning allows for Cannabis House, warehouse, and medical use.
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
$163,998
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
9.15%
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%
$3,279,960
$3.3M
Cap Rate 7%
$2,342,829
$2.3M
Cap Rate 9%
$1,822,200
$1.8M
Market Conditions
NOI Build-Up for 9,588 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
$241.6K $25.20/SF
− Vacancy
−$23.0K −$2.39/SF
EGI
$218.7K $22.81/SF
− OpEx
−$54.7K −$5.70/SF
NOI
$164.0K $17.10/SF
Area
San Bernardino, CA
Vacancy
9.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
25.00%
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%
$3,279,960
Cap Rate 7%
$2,342,829
Cap Rate 9%
$1,822,200
Alternative Uses
Best Use
Office B
$2.34M
$2.05M – $2.73M
NOI $163,998 @ 7.0% cap · market cap 9.15%
Second Best
Healthcare Medical
$2.11M
$1.85M – $2.47M
NOI $147,980 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$2.89M
$2.53M – $3.37M
NOI $202,130 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92407, CA
67,814
Population
19,029
Households
3.6
Avg Household Size
31
Median Age
19%
College-Educated
78%
High-School Grad
81.7 sq mi
ZIP Area
830
Density / Sq Mi
$83,662
Median Household Income
$38,967
Median Earnings
$1,771
Median Rent
$473,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Versatile commercial property suitable for medical, office, or warehouse use.
Where is this medical office space located?
The property is located at 4240 Hallmark Pkwy San Bernardino, CA.
What is the asking price?
The asking price for this property is $1,792,000.
What are key features of this property?
This property features: Large 42,000 sq. ft. lot with a 9,588 sq. ft. building and ample parking.; Prime location near Walmart, Lowe's, the 215 Freeway, and Cal State San Bernardino.; Zoning allows for Cannabis House, warehouse, and medical use.
