165 Hospitality Ln San Bernardino, CA 92408

Property Details for 165 Hospitality Ln

Year built

1980

Lot size

2.90 lot acres

Property size

44,291 SF

Property type

Industrial properties

Property subtype

Flex space

Description

This exceptional investment opportunity presents a fully leased, 44,291 square foot flex center in San Bernardino, CA. Boasting 24 diverse tenants in 32 units, this property offers a strong, diversified income stream with a 7.00% cap rate and a $521,800 NOI. Situated on a 2.9-acre lot at a major commercial hub with high visibility on Hospitality Lane, the property benefits from two signalized intersections and over 30,200 daily car counts. The center features 14-foot clear heights, multiple office/retail buildouts, and 22 grade-level bay doors, accommodating a wide range of tenants. Average suite size is 1,384 square feet, ranging from 956 to 1,930 SF, easily combinable or divisible. Recent capital improvements totaling approximately $345,000 enhance the property's value, including a new roof, HVAC units, fresh paint, and LED lighting. The property is zoned CR-3 (Commercial, Regional – Tri-City/Club) and features a clean Phase I environmental report (July 2023). Built in 1980, the property offers significant upside potential with low, replaceable rents and opportunities to convert modified gross leases to triple net over time. The current asking price is $7,450,000 ($168.21/SF). The high demand for small-format flex space in this area, coupled with limited supply and embedded rent increases (2-5% annually), makes this a compelling investment with minimal downside risk.