Multi-Tenant Industrial Building For
For Sale
Contact for pricing
455 S Sierra Way, San Bernardino, CA
Multi-tenant industrial building with fenced yard, great freeway access.
Property Size15,000 SF
Lot Size0.76 Acres
Price / SF$143.33
Days on Market395
Property Features for 455 S Sierra Way
General Information
Standard status
Active
Size
15,000 SF
Lot size
0.76 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Lee & Associates
(951) 276-3643
Listed By:
Jonathan Pauls · License #01417045
(951) 276-3643
Source:
Moodyscre
Added: Jul 8, 2025
Changed: Jul 6
Last Checked: Jul 22 at 3:37AM
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 Lee & Associates
Investment Insights
Based on property information with market context.
This is a free-standing, multi-tenant industrial building with four units. The property includes a fenced and paved yard. Ceiling heights reach 10 feet. The location provides access to the 10 and 215 Freeways. The building's size is 15,000 square feet.
Key Highlights
- Great access to 10 & 215 Fwy
- Fenced & paved yard
- Multi‑tenant industrial building w/4 units
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
$195,437
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
9.09%
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%
$3,908,740
$3.9M
Cap Rate 7%
$2,791,957
$2.8M
Cap Rate 9%
$2,171,522
$2.2M
Market Conditions
NOI Build-Up for 15,000 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
$324.0K $21.60/SF
− Vacancy
−$23.3K −$1.56/SF
EGI
$300.7K $20.04/SF
− OpEx
−$105.2K −$7.02/SF
NOI
$195.4K $13.03/SF
Area
San Bernardino, CA
Vacancy
7.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$3,908,740
Cap Rate 7%
$2,791,957
Cap Rate 9%
$2,171,522
Alternative Uses
Best Use
Flex RnD
$2.79M
$2.44M – $3.26M
NOI $195,437 @ 7.0% cap · market cap 9.09%
Second Best
Warehouse
$2.38M
$2.08M – $2.78M
NOI $166,776 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$4.52M
$3.95M – $5.27M
NOI $316,224 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-tenant industrial building with fenced yard, great freeway access.
Where is this flex space located?
The property is located at 455 S Sierra Way San Bernardino, CA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Great access to 10 & 215 Fwy; Fenced & paved yard; Multi‑tenant industrial building w/4 units
