Leased Freestanding Storefront
For Sale
Contact for pricing
964 968 & 972 9th St, Upland, CA 91786
Three separate buildings are fully occupied under existing leases.
Property Size15,000 SF
Price / SF$225
Days on Market61
Property Features for 964 968 & 972 9th St
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Retail
Occupancy
100%
Building Details
Buildings
3
Listing Agency:
Delmar Commercial Real Estate Services
Listed By:
Don Barmakian · License #00669168
Source:
Crexi
Added: Jul 1
Changed: Aug 30
Last Checked: Aug 30 at 2:18AM
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 Delmar Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This storefront portfolio comprises three freestanding buildings at 964, 968, and 972 9th St in Upland, California. The buildings measure approximately 3,000, 5,000, and 7,000 square feet, totaling 15,000 square feet across the property.
The asset is 100% leased and offered as an investor-only sale. The separate building configuration provides a multi-building retail holding at a single address.
The asset is 100% leased and offered as an investor-only sale. The separate building configuration provides a multi-building retail holding at a single address.
Key Highlights
- Three freestanding buildings measuring 3k, 5k & 7K sf
- 15,000 SF total property size
- 100% leased
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
$215,006
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
6.37%
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%
$4,300,120
$4.3M
Cap Rate 7%
$3,071,514
$3.1M
Cap Rate 9%
$2,388,956
$2.4M
Market Conditions
NOI Build-Up for 15,000 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
$324.0K $21.60/SF
− Vacancy
−$16.8K −$1.12/SF
EGI
$307.2K $20.48/SF
− OpEx
−$92.1K −$6.14/SF
NOI
$215.0K $14.33/SF
Area
San Bernardino County, CA
Vacancy
5.20%
Lease Rate
$21.60 /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%
$4,300,120
Cap Rate 7%
$3,071,514
Cap Rate 9%
$2,388,956
Alternative Uses
Best Use
Retail
$3.07M
$2.69M – $3.58M
NOI $215,006 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.16M
$2.77M – $3.69M
NOI $221,482 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,733
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91786, CA
55,763
Population
20,094
Households
2.8
Avg Household Size
36
Median Age
30%
College-Educated
88%
High-School Grad
8.9 sq mi
ZIP Area
6,266
Density / Sq Mi
$86,961
Median Household Income
$43,050
Median Earnings
$1,923
Median Rent
$607,100
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 - Three separate buildings are fully occupied under existing leases.
Where is this storefront property located?
The property is located at 964 968 & 972 9th St Upland, CA.
What is the asking price?
The asking price for this property is $3,375,000.
What are key features of this property?
This property features: Three freestanding buildings measuring 3k, 5k & 7K sf; 15,000 SF total property size; 100% leased
