Open-Span Warehouse
For Sale
Contact for pricing
448-464 S Pershing Ave, San Bernardino, CA 92408
Warehouse buildings with yard area, substantial clearance, and direct connectivity to major freeways in San Bernardino.
Property Size20,620 SF
Price / SF$189.14
Days on Market28
Property Features for 448-464 S Pershing Ave
General Information
Standard status
Active
Size
20,620 SF
Property subtype
INDUSTRIAL
Listing Agency:
Daum Commercial
(909) 912-0003
Listed By:
Gus Andros · License #01010235
Source:
Moodyscre
Added: Aug 5
Changed: Aug 30
Last Checked: Aug 31 at 6:20PM
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 Daum Commercial
Investment Insights
Based on property information with market context.
This warehouse portfolio includes 20,620 square feet of clear-span building area at 448-464 S Pershing Ave in San Bernardino. The structures offer 12'-14' clearance and are accompanied by a large yard, providing functional space for warehouse operations and related outdoor needs.
The property has immediate access to the 10 and 215 freeways, connecting the site with the surrounding San Bernardino area and regional transportation network.
The property has immediate access to the 10 and 215 freeways, connecting the site with the surrounding San Bernardino area and regional transportation network.
Key Highlights
- 20,620 SF of clear‑span warehouse buildings
- 12'-14' clearance
- Large yard included with the property
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
$229,262
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
5.88%
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%
$4,585,240
$4.6M
Cap Rate 7%
$3,275,171
$3.3M
Cap Rate 9%
$2,547,356
$2.5M
Market Conditions
NOI Build-Up for 20,620 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
$294.5K $14.28/SF
− Vacancy
−$24.7K −$1.20/SF
EGI
$269.7K $13.08/SF
− OpEx
−$40.5K −$1.96/SF
NOI
$229.3K $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%
$4,585,240
Cap Rate 7%
$3,275,171
Cap Rate 9%
$2,547,356
Alternative Uses
Best Use
Warehouse
$3.28M
$2.87M – $3.82M
NOI $229,262 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.21M
$5.43M – $7.25M
NOI $434,703 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,339
Businesses Nearby
Well-served
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Docu-Trust — 145 E Mill St, San Bernardino, CA 92408
- T & M Smog — 385 E Mill St # 20, San Bernardino, CA 92408
- Lock & Leave Storage at San Bernardino — 322 S Waterman Ave, San Bernardino, CA 92408
- CubeSmart Self Storage — 401 S Waterman Ave, San Bernardino, CA 92408
- Burgess Moving & Storage Co — san bernardino, ca 92401
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse buildings with yard area, substantial clearance, and direct connectivity to major freeways in San Bernardino.
Where is this warehouse located?
The property is located at 448-464 S Pershing Ave San Bernardino, CA.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 20,620 SF of clear‑span warehouse buildings; 12'-14' clearance; Large yard included with the property
