Freeway Frontage Distribution
For Sale
$10,801,701
4985 Hallmark Pky., San Bernardino, CA 92407
Distribution warehouse with direct freeway access and frontage.
Property Size47,169 SF
Price / SF$229
Days on Market271
Property Features for 4985 Hallmark Pky.
General Information
Standard status
Active
Size
47,169 SF
Property subtype
Industrial
Building Details
Building Size
47,169 SF
Year Built
1989
Listing Agency:
Lee & Associates - Riverside
(951) 276-3662
Listed By:
Toby Tewell · License #CalDRE #01822772
Source:
Lee-associates
Added: Nov 26, 2025
Changed: Aug 24
Last Checked: Aug 24 at 5:17AM
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 - Riverside
Investment Insights
Based on property information with market context.
This 47,169-square-foot distribution warehouse benefits from direct frontage on the I-215 Freeway, offering immediate access to the I-215, I-210, and I-15 Freeways. The property is approximately 23 miles from LA-Ontario International Airport. The building allows drive-around access and will be available at the close of escrow.
Key Highlights
- Direct I‑215 Freeway Frontage
- Immediate access to I‑215, I‑210 & I‑15 Freeways
- Drive‑around building
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
$524,444
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
4.86%
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%
$10,488,880
$10.5M
Cap Rate 7%
$7,492,057
$7.5M
Cap Rate 9%
$5,827,156
$5.8M
Market Conditions
NOI Build-Up for 47,169 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
$673.6K $14.28/SF
− Vacancy
−$56.6K −$1.20/SF
EGI
$617.0K $13.08/SF
− OpEx
−$92.5K −$1.96/SF
NOI
$524.4K $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%
$10,488,880
Cap Rate 7%
$7,492,057
Cap Rate 9%
$5,827,156
Alternative Uses
Best Use
Warehouse
$7.49M
$6.56M – $8.74M
NOI $524,444 @ 7.0% cap · market cap 4.86%
Second Best
Industrial
$6.36M
$5.56M – $7.42M
NOI $445,034 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$14.21M
$12.43M – $16.57M
NOI $994,398 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
238
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- SecurCare Self Storage — 5185 Hallmark Pkwy, San Bernardino, CA 92407
Frequently Asked Questions
What type of property is this?
Warehouse - Distribution warehouse with direct freeway access and frontage.
Where is this warehouse located?
The property is located at 4985 Hallmark Pky. San Bernardino, CA.
What is the asking price?
The asking price for this property is $10,801,701.
What are key features of this property?
This property features: Direct I‑215 Freeway Frontage; Immediate access to I‑215, I‑210 & I‑15 Freeways; Drive‑around building
