San Bernardino Opportunity Zone
For Sale
$2,800,000
484 E Redlands Blvd, San Bernardino, CA 92408
Prime location near LLUMC, Veterans Hospital, and LLU.
Property Size6,938 SF
Lot Size0.35 Acres
Days on Market166
Property Features for 484 E Redlands Blvd
General Information
Standard status
Active
Size
6,938 SF
Lot size
0.35 Acres
Property subtype
Commercial
Building Details
Building Size
6,938 SF
Year Built
1940
Units
2
Listing Agency:
RE/MAX Lakeside
(951) 265-6624
Listed By:
Mitchell Burke · License #02059527
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 21 at 8:12AM
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 RE/MAX Lakeside
Investment Insights
Based on property information with market context.
This property presents an opportunity in the Opportunity Zone, situated in a prime area of San Bernardino bordering Loma Linda, with convenient freeway access. It is located near LLUMC, the Veterans Hospital, and LLU. The main building is currently utilized for ambulance maintenance and dispatch offices. The zoning is suitable for Urgent CARES and medical facilities. An additional building on the premises is suitable for offices. The property includes security fencing and multiple gates providing access to both the primary property and the leased property. There is an existing lease on the adjacent property to the east for parking, with two 10-year options to renew at approximately $160 per month. The zoning is CR-3 (COMMERCIAL REGIONAL-TRI-CITY/CLUB), intended for a variety of regional-serving uses, including corporate and professional offices, retail commercial, entertainment venues (theaters, nightclubs), financial establishments, restaurants, hotels/motels, warehouse/promotional retail, supporting retail and services, and similar uses. Buyers should confirm all potential uses.
Key Highlights
- Zoned for Urgent CARES and MEDICAL uses.
- Prime location in Opportunity Zone bordering Loma Linda, close to LLUMC, Veterans Hospital, LLU, and freeway access.
- Existing lease with the City of San Bernardino for the adjacent lot, providing additional parking.
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
$118,671
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
4.24%
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%
$2,373,420
$2.4M
Cap Rate 7%
$1,695,300
$1.7M
Cap Rate 9%
$1,318,567
$1.3M
Market Conditions
NOI Build-Up for 6,938 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
$174.8K $25.20/SF
− Vacancy
−$16.6K −$2.39/SF
EGI
$158.2K $22.81/SF
− OpEx
−$39.6K −$5.70/SF
NOI
$118.7K $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%
$2,373,420
Cap Rate 7%
$1,695,300
Cap Rate 9%
$1,318,567
Alternative Uses
Best Use
Office B
$1.70M
$1.48M – $1.98M
NOI $118,671 @ 7.0% cap · market cap 4.24%
Second Best
Healthcare Medical
$1.53M
$1.34M – $1.78M
NOI $107,081 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,264 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,139
Businesses Nearby
Balanced
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 Office 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?
Medical Office Space - Prime location near LLUMC, Veterans Hospital, and LLU.
Where is this medical office space located?
The property is located at 484 E Redlands Blvd San Bernardino, CA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Zoned for Urgent CARES and MEDICAL uses.; Prime location in Opportunity Zone bordering Loma Linda, close to LLUMC, Veterans Hospital, LLU, and freeway access.; Existing lease with the City of San Bernardino for the adjacent lot, providing additional parking.
