Free-Standing Warehouse Buildings with
For Sale
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988-996 W 9th St, Upland, CA 91786
Three free-standing warehouse buildings offer 12' clear height and fenced yard with two ground-level loading doors.
Property Size15,000 SF
Price / SF$225
Days on Market236
Property Features for 988-996 W 9th St
General Information
Standard status
Active
Size
15,000 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
12 ft
Drive-In Doors
2
Additional Details
Fenced Yard
Yes
Listing Agency:
Lee & Associates
(909) 989-7771
Listed By:
Jim Ridens · License #00974728
(909) 373-2718
Source:
Moodyscre
Added: Jan 14
Changed: Aug 10
Last Checked: Jul 21 at 12:49PM
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 Lee & Associates
Investment Insights
Based on property information with market context.
This property consists of three free-standing warehouse buildings, offering flexibility for an owner-user or investor. The available configuration allows occupancy at approximately 5,000, 10,000, or 15,000 SF, depending on how the space is utilized. Each building features two ground-level loading doors and approximately 12' clear height. A fenced yard is included for additional site utility.
The buildings are located at 988-996 W 9th St in Upland, CA 91786. This is a straightforward warehouse offering designed to support practical industrial needs, with ground-level loading and clear ceiling height for efficient everyday operations.
With the ability to scale occupancy across three buildings and supported by basic loading and yard improvements, the site can accommodate a range of in-building space requirements.
The buildings are located at 988-996 W 9th St in Upland, CA 91786. This is a straightforward warehouse offering designed to support practical industrial needs, with ground-level loading and clear ceiling height for efficient everyday operations.
With the ability to scale occupancy across three buildings and supported by basic loading and yard improvements, the site can accommodate a range of in-building space requirements.
Key Highlights
- Three free‑standing warehouse buildings
- 12' clear height
- 2 ground‑level loading doors
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
$149,573
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
4.43%
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%
$2,991,460
$3.0M
Cap Rate 7%
$2,136,757
$2.1M
Cap Rate 9%
$1,661,922
$1.7M
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
$187.2K $12.48/SF
− Vacancy
−$11.2K −$0.75/SF
EGI
$176.0K $11.73/SF
− OpEx
−$26.4K −$1.76/SF
NOI
$149.6K $9.97/SF
Area
San Bernardino County, CA
Vacancy
6.00%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
15.00%
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%
$2,991,460
Cap Rate 7%
$2,136,757
Cap Rate 9%
$1,661,922
Alternative Uses
Best Use
Warehouse
$2.14M
$1.87M – $2.49M
NOI $149,573 @ 7.0% cap · market cap 4.43%
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
Current Use
Lease Details
12 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
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 Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- California Mini Storage — 1326 W 7th St, Upland, CA 91786
Frequently Asked Questions
What type of property is this?
Warehouse - Three free-standing warehouse buildings offer 12' clear height and fenced yard with two ground-level loading doors.
Where is this warehouse located?
The property is located at 988-996 W 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 free‑standing warehouse buildings; 12' clear height; 2 ground‑level loading doors
