Pizza Restaurant
New
For Sale
$673,846
947 Armory, Barstow, CA 92311
The building is part of a retail center with grocery, restaurant, banking, medical, and service businesses.
Property Size3,827 SF
Price / SF$176.08
Days on Market2
Property Features for 947 Armory
General Information
Standard status
Active
Size
3,827 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Building Size
3,827 SF
Year Built
1982
Buildings
1
Listing Agency:
MGR Real Estate, Inc
Listed By:
Randy Sanchez · License #01180997
(760) 955-7888
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 3:11PM
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 MGR Real Estate, Inc
Investment Insights
Based on property information with market context.
This 3,827-square-foot restaurant building is occupied in its entirety by a pizza restaurant. Constructed in 1982, it is located within a larger retail center in Barstow.
Stater Bros. Markets anchors the center, which also includes retail, restaurant, banking, medical, and service tenants. The property is just off I-15, with an established residential community to the south.
Stater Bros. Markets anchors the center, which also includes retail, restaurant, banking, medical, and service tenants. The property is just off I-15, with an established residential community to the south.
Key Highlights
- 3,827‑square‑foot building occupied by a pizza restaurant
- Built in 1982
- Located in a retail center anchored by Stater Bros. Markets
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
$37,114
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
5.51%
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%
$742,280
$742.3K
Cap Rate 7%
$530,200
$530.2K
Cap Rate 9%
$412,378
$412.4K
Market Conditions
NOI Build-Up for 3,827 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
$52.8K $13.80/SF
− Vacancy
−$3.3K −$0.87/SF
EGI
$49.5K $12.93/SF
− OpEx
−$12.4K −$3.23/SF
NOI
$37.1K $9.70/SF
Area
San Bernardino County, CA
Vacancy
6.30%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
25.00%
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%
$742,280
Cap Rate 7%
$530,200
Cap Rate 9%
$412,378
Alternative Uses
Best Use
Specialty Retail
$530.2K
$463.9K – $618.6K
NOI $37,114 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$807.2K
$706.3K – $941.8K
NOI $56,507 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92311, CA
34,524
Population
13,707
Households
2.5
Avg Household Size
33
Median Age
11%
College-Educated
84%
High-School Grad
424.4 sq mi
ZIP Area
81
Density / Sq Mi
$59,338
Median Household Income
$38,871
Median Earnings
$1,081
Median Rent
$217,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - The building is part of a retail center with grocery, restaurant, banking, medical, and service businesses.
Where is this conventional restaurant located?
The property is located at 947 Armory Barstow, CA.
What is the asking price?
The asking price for this property is $673,846.
What are key features of this property?
This property features: 3,827‑square‑foot building occupied by a pizza restaurant; Built in 1982; Located in a retail center anchored by Stater Bros. Markets
