1450-1470 9Th St Upland, CA 91786-5634

Property Details for 1450-1470 9Th St

Lot size

2.08 lot acres

Property size

22,001 SF

Property type

Office Properties & Spaces

Property subtype

Office space

Description

This exceptional investment opportunity presents the fee simple ownership of Home Place Business Park in Upland, California. This multi-tenant property comprises five buildings totaling 22,001 square feet on a 2.08-acre lot, currently operating at 100% occupancy with a gross lease structure. The property is zoned B/R-MU and features a mix of executive and creative office spaces, along with business/residential and industrial components. The asking price is $7,500,000, reflecting a 3.00% cap rate and a pro-forma cap rate of 1.98%. The current Net Operating Income (NOI) is $148,132. A significant upside potential exists due to below-market rents and CAM charges. The property boasts high tenant retention thanks to flexible and adaptable suites. The seller is finalizing a parcel map and tentative tract map, dividing the property into ten condo units (Parcel 1) and a separate 0.58-acre development parcel (Parcel 2) with a 4,062 square foot structure. This allows for the immediate sale of individual units or continued rental income generation. Parcel 2 offers a unique development opportunity for mixed-use, residential, or business construction on approximately 25,000 square feet. The property's low historical vacancy rate of 5% and the absence of planned competing developments in the Upland submarket further enhance its investment appeal. This is a rare chance to acquire a well-established, income-producing property with significant future development potential.

Location Insight

City

Upland

County

San Bernardino

State

California

Longitude

-117.677

Latitude

34.0957