Remodeled Two-Unit Retail
For Sale
$839,000
Orange Street Street, Redlands, CA 92374
Two remodeled retail units are leased and occupied, with access to up to 16 shared parking spaces.
Property Size3,065 SF
Price / SF$273.74
Days on Market270
Property Features for Orange Street Street
General Information
Standard status
Active
Size
3,065 SF
Total Parking Spaces
16
Property subtype
Retail
Occupancy
100%
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,995
Amenities
Central Air
3
Tar Gravel, Asphalt, Shingle
14 Parking Spaces.
Paved, Security Lighting. Public Transport, Paved Road, Zero Lot Line.
Building Details
Year Built
1926
Tenancy
Multi
Listing Agency:
GILBERT PEREZ, BROKER
(951) 202-2877
Listed By:
GILBERT PEREZ
Source:
Xome
Added: Nov 23, 2025
Changed: Aug 14
Last Checked: Aug 19 at 5:41AM
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 GILBERT PEREZ, BROKER
Investment Insights
Based on property information with market context.
The property consists of two retail units within a recently remodeled interior and exterior. The offering is described as having potential for historic designation, with an established date noted as 1960. Both units are currently leased and occupied with business tenants.
The subject is located near the intersection of Orange St and Colton Ave, within walking distance to Downtown Redlands and the Train Station. Access is described as convenient to Interstate 10 freeway on and off ramps, and parking is noted as shared up to 16 additional spaces.
Surrounding businesses include Stater Bros., Domino’s Pizza, Chevron Gas, Salvation Army, and Liberty Tax. The property includes two units designed to support current leased occupancy.
The subject is located near the intersection of Orange St and Colton Ave, within walking distance to Downtown Redlands and the Train Station. Access is described as convenient to Interstate 10 freeway on and off ramps, and parking is noted as shared up to 16 additional spaces.
Surrounding businesses include Stater Bros., Domino’s Pizza, Chevron Gas, Salvation Army, and Liberty Tax. The property includes two units designed to support current leased occupancy.
Key Highlights
- 2 leased retail units, occupied by business tenants
- Recently remodeled interior and exterior
- Year built 1926 with potential for historic designation
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
$43,933
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
5.24%
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%
$878,660
$878.7K
Cap Rate 7%
$627,614
$627.6K
Cap Rate 9%
$488,144
$488.1K
Market Conditions
NOI Build-Up for 3,065 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
$66.2K $21.60/SF
− Vacancy
−$3.4K −$1.12/SF
EGI
$62.8K $20.48/SF
− OpEx
−$18.8K −$6.14/SF
NOI
$43.9K $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%
$878,660
Cap Rate 7%
$627,614
Cap Rate 9%
$488,144
Alternative Uses
Best Use
Retail
$627.6K
$549.2K – $732.2K
NOI $43,933 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$646.5K
$565.7K – $754.3K
NOI $45,256 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92374, CA
43,587
Population
15,038
Households
2.9
Avg Household Size
35
Median Age
37%
College-Educated
90%
High-School Grad
17.9 sq mi
ZIP Area
2,435
Density / Sq Mi
$96,237
Median Household Income
$41,349
Median Earnings
$1,972
Median Rent
$494,000
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 - Two remodeled retail units are leased and occupied, with access to up to 16 shared parking spaces.
Where is this storefront property located?
The property is located at Orange Street Street Redlands, CA.
What is the asking price?
The asking price for this property is $839,000.
What are key features of this property?
This property features: 2 leased retail units, occupied by business tenants; Recently remodeled interior and exterior; Year built 1926 with potential for historic designation
