3996 Sierra Way San Bernardino, CA 92405
- Lifestyle centers
- 13,396 SF
Current Use by Public Records
- Lifestyle centers
Property Details for 3996 Sierra Way
- Year built
- 1961
- Property size
- 13,396 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional San Bernardino retail investment, priced at $2,950,000, offers a compelling value-add opportunity. The property comprises two buildings totaling 13,396 square feet, situated on a high-traffic corner at N Sierra Way and E 40th St, experiencing 34,000 vehicles daily. Currently featuring nine tenants across a multi-tenant lease structure (Gross Lease), the property boasts a 32.52% occupancy rate, with lease expirations in November 2024. The current NOI is $132,893, projecting a pro-forma NOI of $258,643, representing a pro-forma cap rate of 8.77%. Built in 1961 and 1982, the property sits on a 27,158 square foot lot and includes 46 parking spaces. The property's strategic location benefits from proximity to major national retailers including Cardenas Market, 7-Eleven, Walgreens, Stater Brothers, and TJ Maxx. The property is zoned CG-1 and offers significant potential for lease-up and increased profitability. This fee-simple ownership opportunity presents a strong value-add proposition for investors seeking to capitalize on the robust retail market in San Bernardino, California. The property's current occupancy and lease terms provide a clear path to significant NOI growth. The high traffic count and prominent location ensure strong visibility and tenant appeal. This is a rare chance to acquire a well-positioned retail center with substantial upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- San Bernardino
- County
- San Bernardino
- State
- California
- Longitude
- -117.285
- Latitude
- 34.1649
