Versatile Commercial Space on
For Sale
$2,000,000
651 N Waterman, San Bernardino, CA 92410
Flexible space with high visibility and ample parking.
Property Size11,240 SF
Price / SF$173.91
Days on Market174
Property Features for 651 N Waterman
General Information
Standard status
Active
Size
11,240 SF
Property subtype
Industrial
Building Details
Building Size
11,240 SF
Year Built
1966
Listed By:
Jerrold Tomeo
(909) 981-4466
Source:
Elliman
Added: Apr 24
Changed: Aug 24
Last Checked: Aug 25 at 5:13AM
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 Jerrold Tomeo
Investment Insights
Based on property information with market context.
Located on N. Waterman Avenue in San Bernardino, this commercial property offers up to approximately 11,500 square feet of flexible space. The property can accommodate full occupancy or be divided to meet smaller operational needs. Its street frontage provides visibility and signage opportunities. The site includes on-site parking and convenient access points. It is suitable for retail, service, office, or specialty users. The location is somewhat bikeable with a score of 46, car-dependent with a walk score of 40, and has some transit options with a transit score of 37.
Key Highlights
- High‑traffic location on N. Waterman Avenue.
- Up to ±11,500 SF of versatile space, divisible for smaller needs.**
- Excellent visibility and signage opportunities.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$149,835
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,996,700
$3.0M
Cap Rate 7%
$2,140,500
$2.1M
Cap Rate 9%
$1,664,833
$1.7M
Market Conditions
NOI Build-Up for 11,500 SF
Gross rent
$248.4K $21.60/SF
− Vacancy
−$17.9K −$1.56/SF
EGI
$230.5K $20.04/SF
− OpEx
−$80.7K −$7.02/SF
NOI
$149.8K $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 Rate 5%
$2,996,700
Cap Rate 7%
$2,140,500
Cap Rate 9%
$1,664,833
Alternative Uses
Best Use
Flex RnD
$2.14M
$1.87M – $2.50M
NOI $149,835 @ 7.0% cap · market cap 7.49%
Second Best
Industrial
$1.55M
$1.36M – $1.81M
NOI $108,501 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$3.46M
$3.03M – $4.04M
NOI $242,438 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,113
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92410, CA
51,651
Population
14,325
Households
3.6
Avg Household Size
30
Median Age
6%
College-Educated
66%
High-School Grad
8.2 sq mi
ZIP Area
6,299
Density / Sq Mi
$53,390
Median Household Income
$32,474
Median Earnings
$1,303
Median Rent
$273,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Similar Off Market Nearby
- Mr. Piii's Waffles, Crepes, and Mini Pancakes — 478 N D St Space 4, San Bernardino, CA 92401
Frequently Asked Questions
What type of property is this?
Flex space - Flexible space with high visibility and ample parking.
Where is this flex space located?
The property is located at 651 N Waterman San Bernardino, CA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: High‑traffic location on N. Waterman Avenue.; Up to ±11,500 SF of versatile space, divisible for smaller needs.**; Excellent visibility and signage opportunities.**
