Entity Owned Property summary
This exceptional retail investment opportunity, Patio Shops, presents a stabilized, multi-tenant property located at 233 E State St, Redlands, CA 92373. Boasting 9,345 square feet of net rentable space across seven units, this Class B property is situated on a 9,440 square foot lot. Built in 1962 and extensively renovated in 2024, the two-story building features a diverse mix of "Amazon-proof" tenants, ensuring consistent income. Currently operating at 100% occupancy, the property generates… a strong NOI of $162,000, translating to a 5.04% cap rate and a pro-forma cap rate of 5.70%. The pro-forma NOI is projected at $183,308. Annual rent bumps are tied to the CPI. The asking price is $3,225,000, or $345.10 per square foot. The property is zoned for retail, office, and restaurant uses, offering flexibility for future tenants. The motivated seller is open to a 1031 exchange. This prime corner location in the heart of downtown Redlands offers high visibility and convenient access, ensuring long-term value in a vibrant and growing market. The property's strong tenant history and attractive cap rate make it an ideal investment for those seeking a stable and profitable addition to their portfolio. The APN is 0171-071-12. The lease type is modified, and tenants currently have no credit rating.
Ownership intelligence
Resolved identity, portfolio, hold profile and investor signals. Included in the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax
No data for this sectionNo tax or assessment record is on file for this parcel in the county feed.
Value estimate
· Sep 2026No data for this sectionNo value estimate could be modeled: the record carries too little market input for this parcel.
Recently sold
No data for this sectionNo cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
No data for this sectionNo zoning code is on file for this parcel. Coverage grows with every catalog release.
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
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The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
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