Multi-Tenant Flex
For Sale
$1,475,000
631 New Jersey St., Redlands, CA 92373
Office suites and warehouse space support both occupancy and flexible commercial use.
Property Size5,688 SF
Lot Size0.49 Acres
Price / SF$259.32
Days on Market47
Property Features for 631 New Jersey St.
General Information
Standard status
Active
Size
5,688 SF
Total Parking Spaces
19
Lot size
0.49 Acres
Property subtype
Industrial
Additional Details
Warehouse Space
1,225 SF
Office Units
3
Building Details
Building Size
5,688 SF
Year Built
1988
Buildings
1
Tenancy
Multi
Listing Agency:
Lee & Associates
Listed By:
Spencer Hull · License #CalDRE #01507542
(951) 276-3651
Source:
Lee-associates
Added: Sep 4
Changed: Oct 7
Last Checked: Oct 19 at 5:32AM
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
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Investment Insights
Based on property information with market context.
Built in 1988, this 5,688-square-foot flex property combines a multi-tenant office building with warehouse space on 0.49 acres. The office component includes three suites, while the property also provides a 1,225-square-foot warehouse and 19 parking spaces.
All three office suites are fully occupied under month-to-month tenancies, creating an existing occupancy profile with lease flexibility. The property is located in Redlands, California, at 631 New Jersey St.
All three office suites are fully occupied under month-to-month tenancies, creating an existing occupancy profile with lease flexibility. The property is located in Redlands, California, at 631 New Jersey St.
Key Highlights
- 5,688 SF multi‑tenant office building
- Three fully occupied office suites
- 1,225 SF warehouse component
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,950
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,339,000
$1.3M
Cap Rate 7%
$956,429
$956.4K
Cap Rate 9%
$743,889
$743.9K
Market Conditions
NOI Build-Up for 5,688 SF
Gross rent
$96.9K $17.04/SF
− Vacancy
−$7.7K −$1.35/SF
EGI
$89.3K $15.69/SF
− OpEx
−$22.3K −$3.92/SF
NOI
$66.9K $11.77/SF
Area
San Bernardino County, CA
Vacancy
7.90%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,339,000
Cap Rate 7%
$956,429
Cap Rate 9%
$743,889
Alternative Uses
Best Use
Office B
$956.4K
$836.9K – $1.12M
NOI $66,950 @ 7.0% cap · market cap 4.54%
Second Best
Warehouse
$810.3K
$709.0K – $945.3K
NOI $56,718 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,986 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,471
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92373, CA
35,348
Population
14,501
Households
2.4
Avg Household Size
41
Median Age
53%
College-Educated
94%
High-School Grad
39.8 sq mi
ZIP Area
888
Density / Sq Mi
$99,354
Median Household Income
$64,533
Median Earnings
$1,886
Median Rent
$713,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- Gwen Marlowe Foods & Catering — 721 Nevada St STE 202, Redlands, CA 92373
- Grandpa Joes Tamales — 721 Nevada St, Redlands, CA 92373
- Corbett's Catering — 2064 Orange Tree Ln, Redlands, CA 92374
Frequently Asked Questions
What type of property is this?
Flex space - Office suites and warehouse space support both occupancy and flexible commercial use.
Where is this flex space located?
The property is located at 631 New Jersey St. Redlands, CA.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: 5,688 SF multi‑tenant office building; Three fully occupied office suites; 1,225 SF warehouse component
