Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    242 Airport Dr San Bernardino, CA 92408

    • Medical offices
    • 22,826 SF
    • 1.26 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-0960846
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Accounting 4 Computers & Pro-Tax Solutions Inc / Financial Consultant / Tax Preparation
    • A T Walters Insurance / Insurance Agency
    • Sean McMullin: Allstate Insurance / Insurance Agency / Motorcycle Insurance Agency
    • Institute-Public Strategies / Non-Profit Organization
    • Mothers Against Drunk Driving / Non-Profit Organization / Social Services Organization

    Property Details for 242 Airport Dr

    Year built
    1987
    Lot size
    1.26 lot acres
    Property size
    22,826 SF
    Property type
    Medical offices

    Description

    Commerce Plaza in San Bernardino County offers a highly desirable 1,803 square foot first-floor office suite, perfect for medical or traditional office use. This suite is immediately accessible from the lobby and currently features four exam rooms, an office, kitchen/breakroom, x-ray room, and reception/waiting area. The building itself boasts 22,826 total square feet across two stories, situated on 1.26 acres of land with a 45 FAR. Built in 1987, Commerce Plaza is a Class B building with 50 parking spaces and elevator access. Recent upgrades include new energy-efficient lighting and fresh flooring in the common areas. The convenient location offers easy freeway access and is within walking distance of numerous restaurants and retailers, including Staybridge Suites, Claim Jumper, Red Lobster, and IHOP. Janitorial service is included in the lease rate. The property's APN is 0141-412-25. Note that price, tenant mix, and availability are subject to change. This is a single suite offering within a multi-tenant building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Bernardino
    County
    San Bernardino
    State
    California
    Longitude
    -117.28278073621
    Latitude
    34.067614259783

    Comparable in this City

    • $19 SF/Yr
      32,773 SF

      Waterman Business Center: Loma Linda

      Prime San Bernardino County location. Versatile office & industrial space.
      328 Commercial Rd, San Bernardino, CA 92408
      View Details
    • Contact for pricing
      30,000 SF

      Loma Linda Medical Office Space

      New medical building near Loma Linda Hospital, 4,370-12,370 SF available.
      25258 Redlands Blvd, Loma Linda, CA 92408
      View Details
    • Contact for pricing
      84,342 SF

      San Bernardino Office Space Available

      Office space for rent in San Bernardino, 84342 square feet.
      1845 S Business Center Dr, San Bernardino, CA 92408
      View Details
    • $18 SF/Yr
      83,982 SF

      Exchange Place Executive Suites

      San Bernardino Office Space For Lease
      1845 Business Center Dr, San Bernardino, CA 92408
      View Details
    • $56 SF/Yr
      14,210 SF

      Prime San Bernardino Office Space

      Class A Office Suites, Flexible Options
      473 Carnegie Dr, San Bernardino, CA 92408
      View Details
    • Contact for pricing

      Office Space with Free Parking

      Office space with free parking and convenient freeway access.
      473 East Carnegie Dr, San Bernardino, CA 92408
      View Details

    Similar Nearby for Sale

    • $2,800,000
      6,938 SF

      San Bernardino Commercial Opportunity Zone Property

      Commercial property in San Bernardino Opportunity Zone, suitable for various uses.
      484 E Redlands Blvd, San Bernardino, CA 92408
      View Details
    • Contact for pricing
      0.89 Acres

      San Bernardino Commercial Land Pads

      Prime San Bernardino location, two developable pads.
      0 Hospitality Ln & Harriman Pl, San Bernardino, CA 92408
      View Details
    • $599,000
      2,750 SF

      Commercial Property with Upgraded Offices

      Well-located commercial property with excellent freeway access.
      358-368 S Mountain View Ave, San Bernardino, CA 92408
      View Details
    • $3,200,000

      San Bernardino Office Building Investment

      100% occupied office building with the County as tenant.
      1505 S D St, San Bernardino, CA 92408
      View Details
    • $2,250,000
      16,707 SF

      Upgraded Commercial Building in San Bernardino

      Two-story commercial building with established tenants and recent upgrades.
      1465 S D St, San Bernardino, CA 92408
      View Details
    • $4,500,000
      1.92 Acres

      Gardena Street Industrial Complex

      San Bernardino Office/Industrial Investment
      0 Gardena St, San Bernardino, CA 92408
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      30,000 SF

      Loma Linda Medical Office Space

      New medical building near Loma Linda Hospital, 4,370-12,370 SF available.
      25258 Redlands Blvd, Loma Linda, CA 92408
      View Details
    • $19 SF/Yr
      32,773 SF

      Waterman Business Center: Loma Linda

      Prime San Bernardino County location. Versatile office & industrial space.
      328 Commercial Rd, San Bernardino, CA 92408
      View Details
    • Contact for pricing
      34,427 SF

      Office Space For Lease

      Contiguous office space available for lease in San Bernardino.
      655 W Rialto Ave, San Bernardino, CA 92408
      View Details
    • $1.95 SF/Yr
      38,848 SF

      San Bernardino Office Space Sublease

      First floor office space available for sublease through 2026.
      621 E Carnegie Dr, San Bernardino, CA 92408
      View Details
    • Contact for pricing

      Premier Office Space in San Bernardino

      Office space in a master-planned, mixed-use corporate center.
      862 E Hospitality Ln, San Bernardino, CA 92408
      View Details
    • Contact for pricing
      84,342 SF

      San Bernardino Office Space Available

      Office space for rent in San Bernardino, 84342 square feet.
      1845 S Business Center Dr, San Bernardino, CA 92408
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    242 Airport Dr
    San Bernardino, CA 92408
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.