Retail Property in Downtown
For Sale
$1,450,000
8659 Sierra Ave, Fontana, CA 92335
In-line retail property with two units on Sierra Avenue.
Property Size4,500 SF
Lot Size0.14 Acres
Price / SF$322.22
Days on Market150
Property Features for 8659 Sierra Ave
General Information
Standard status
Active
Size
4,500 SF
Lot size
0.14 Acres
Property subtype
Commercial
Building Details
Building Size
4,500 SF
Year Built
1946
Units
2
Listing Agency:
Keller Williams Realty Redlands
(909) 330-8123
Listed By:
Teri Alvarez · License #01498790
(909) 330-8123
Source:
Elliman
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 19 at 8:42AM
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 Keller Williams Realty Redlands
Investment Insights
Based on property information with market context.
This in-line retail property features two units with a combined 60-foot frontage on Sierra Avenue in Downtown Fontana. The property, situated on a 6,000 square foot lot (0.14 acres), benefits from both public street parking and a large city parking lot at the rear. Each unit has dedicated utility meters for gas, water, and electricity, as well as a dedicated parking space at its respective rear entrance. Unit 8657 is a 1,500 square foot retail storefront with an open floor plan, large showcase windows, central heating and air conditioning, modern tile floors, an office, a storage room, a restroom, and front and rear access doors. It also includes a kitchenette area with a built-in sink cabinet and space for a refrigerator, storage, seating, and a coffee bar, plus a retail lobby that separates from the back area floor plan. Unit 8659 is a 3,000 square foot retail storefront featuring a wide open floor plan, large showcase windows, natural light, central heating and air conditioning, wood laminate floors, an office, two restrooms, and front and rear access doors. The property is currently tenant-occupied with month-to-month tenants, presenting an opportunity for an owner-user or investor. It is located within walking distance of Stage Red Live Music Venue and near Fontana City Hall and the Metro-Link Station, in a revitalization area transforming into a walkable mixed-use district. The property is zoned FBC - Sierra Core Downtown and is located within an Opportunity Zone.
Key Highlights
- 4500sf In‑Line Retail with 60' frontage on highly trafficked Sierra Avenue in Downtown Fontana.
- Opportunity for owner‑user alongside income or investment with established tenants.
- Located in an Opportunity Zone and a major revitalization area near Fontana City Hall/Metro‑Link Station.
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
$66,986
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
4.62%
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%
$1,339,720
$1.3M
Cap Rate 7%
$956,943
$956.9K
Cap Rate 9%
$744,289
$744.3K
Market Conditions
NOI Build-Up for 4,500 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
$99.9K $22.20/SF
− Vacancy
−$4.2K −$0.93/SF
EGI
$95.7K $21.27/SF
− OpEx
−$28.7K −$6.38/SF
NOI
$67.0K $14.89/SF
Area
Fontana, CA
Vacancy
4.21%
Lease Rate
$22.20 /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%
$1,339,720
Cap Rate 7%
$956,943
Cap Rate 9%
$744,289
Alternative Uses
Best Use
Retail
$956.9K
$837.3K – $1.12M
NOI $66,986 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,660 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,111
Businesses Nearby
112k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 13%
Home Improvements & Furnishings 11%
Apparel 3%
Carl's Jr.
Dining
13,355 visits/mo
0.3 miles
76
Shops & Services
12,520 visits/mo
0.3 miles
Harbor Freight Tools
Home Improvements & Furnishings
12,437 visits/mo
0.4 miles
Shell
Shops & Services
11,846 visits/mo
0.3 miles
Family Dollar
Shops & Services
10,319 visits/mo
0.4 miles
Demographics for 92335, CA
96,605
Population
25,861
Households
3.7
Avg Household Size
31
Median Age
10%
College-Educated
67%
High-School Grad
17.5 sq mi
ZIP Area
5,520
Density / Sq Mi
$75,198
Median Household Income
$35,912
Median Earnings
$1,636
Median Rent
$433,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - In-line retail property with two units on Sierra Avenue.
Where is this storefront property located?
The property is located at 8659 Sierra Ave Fontana, CA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 4500sf In‑Line Retail with **60' frontage on highly trafficked Sierra Avenue** in Downtown Fontana.; Opportunity for owner‑user alongside income or investment with established tenants.; Located in an Opportunity Zone and a major revitalization area near Fontana City Hall/Metro‑Link Station.
