8-Unit Retail Strip
For Sale
$1,200,999
723 W Highland, San Bernardino, CA 92405
Multi-tenant retail property with customer parking and a diversified tenant mix.
Property Size7,900 SF
Days on Market8
Property Features for 723 W Highland
General Information
Standard status
Active
Size
7,900 SF
Property subtype
Retail
Building Details
Building Size
7,900 SF
Year Built
1965
Tenancy
Multi
Listing Agency:
Remax Foothills
(657) 325-3552
Listed By:
Erminia Beltran · License #02204936
Source:
Camdenmckayre
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 29 at 4:34PM
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 Remax Foothills
Investment Insights
Based on property information with market context.
This retail strip center contains 8 units in a multi-tenant configuration, providing separate spaces within a single commercial property. The improvements date to 1965, and the asset is positioned for retail occupancy with customer parking serving the center.
Located at 723 W Highland in San Bernardino, California, the property benefits from street visibility and an established Inland Empire setting. Its unit count and multi-tenant layout support a diversified retail configuration.
Located at 723 W Highland in San Bernardino, California, the property benefits from street visibility and an established Inland Empire setting. Its unit count and multi-tenant layout support a diversified retail configuration.
Key Highlights
- 8‑unit multi‑tenant retail strip center
- Customer parking serves the property
- Street visibility along W Highland
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
$106,834
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
8.90%
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%
$2,136,680
$2.1M
Cap Rate 7%
$1,526,200
$1.5M
Cap Rate 9%
$1,187,044
$1.2M
Market Conditions
NOI Build-Up for 7,900 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
$163.1K $20.64/SF
− Vacancy
−$10.4K −$1.32/SF
EGI
$152.6K $19.32/SF
− OpEx
−$45.8K −$5.80/SF
NOI
$106.8K $13.52/SF
Area
San Bernardino, CA
Vacancy
6.40%
Lease Rate
$20.64 /SF/Yr
Expense Ratio
30.00%
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%
$2,136,680
Cap Rate 7%
$1,526,200
Cap Rate 9%
$1,187,044
Alternative Uses
Best Use
Retail
$1.53M
$1.34M – $1.78M
NOI $106,834 @ 7.0% cap · market cap 8.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.38M
$2.08M – $2.78M
NOI $166,545 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
927
Businesses Nearby
209k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Home Improvements & Furnishings 27%
Shops & Services 24%
The Home Depot
Home Improvements & Furnishings
55,950 visits/mo
0.5 miles
McDonald's
Dining
33,225 visits/mo
0.1 miles
Dollar Tree
Shops & Services
21,596 visits/mo
0.4 miles
Alberto's Mexican Food
Dining
10,515 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
9,498 visits/mo
0.5 miles
Demographics for 92405, CA
32,165
Population
9,727
Households
3.3
Avg Household Size
31
Median Age
13%
College-Educated
74%
High-School Grad
5.0 sq mi
ZIP Area
6,433
Density / Sq Mi
$59,271
Median Household Income
$32,066
Median Earnings
$1,424
Median Rent
$376,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Multi-tenant retail property with customer parking and a diversified tenant mix.
Where is this strip mall located?
The property is located at 723 W Highland San Bernardino, CA.
What is the asking price?
The asking price for this property is $1,200,999.
What are key features of this property?
This property features: 8‑unit multi‑tenant retail strip center; Customer parking serves the property; Street visibility along W Highland
