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    299 West Foothill Blvd Upland, CA 91786
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    299 West Foothill Blvd, Upland, CA 91786

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    • Medical Office Space
    • 36,870 SF
    • 2.17 lot acres
    For Sale
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    Professionally Managed Office Building For Sale
    Contact for pricing
    36,870 SF

    Professionally Managed Office Building

    Two-story office building on historic Route 66.

    299 West Foothill Boulevard, Upland, CA 91786
    View Listing
    Property ID
    US10-0860142
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Select Physical Therapy - Upland / Medical Clinic
    • Johnson Judith A / Physician
    • The Law Office of Howard S. Borenstein / Law Firm
    • On Tap barbershop / Barber Shop
    • Venashomes,inc / Real Estate Agency

    Property Details for 299 West Foothill Blvd

    Lot size
    2.17 lot acres
    Property type
    Medical Office Space

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 18, 2023 — Concourse Coi Investment LLC — Deed · related $13M · East West Bank
    Sep 27, 2022 $6,680,000 Concourse Coi Investment LLC 299 West Foothill LLC Grant Deed $4.3M · East West Bank
    May 31, 2019 $6,175,000 299 West Foothill LLC Premier Investment Enterprises INC Grant Deed $3.1M · Cathay Bank
    Oct 16, 2018 — Premier Investment Enterpeises INC — Deed · related $2.3M · East West Bank
    Aug 4, 2016 — Premier Investment Enterprises INC — Deed · related $2.5M · Bank Of The West

    Description

    Magnolia Centre, a professionally managed medical office building, offers exceptional space in Upland, CA. This 36,870 square foot building sits on a 2.17-acre lot at 299 W Foothill Blvd, 91786, offering multiple tenancy options. Three suites are currently available, ranging in size from 574 to 1,796 square feet, ideal for various medical practices. The building enjoys a prime location on West Foothill Boulevard, a historically significant route (former Route 66), providing excellent visibility and accessibility. Its strategic position offers convenient access to Interstate 10 (just 5 minutes north), benefiting from high daily traffic counts exceeding 27,000 vehicles. The surrounding area boasts a wealth of amenities, including numerous restaurants and retail establishments, ensuring convenience for both staff and patients. Located in San Bernardino County, this property is surrounded by thriving communities such as Rancho Cucamonga, Ontario, Montclair, and Clairmont, providing a strong patient base and a vibrant business environment. This is a rare opportunity to secure medical office space in a well-established and highly visible location within a bustling Inland Empire city. The property's size and location make it an attractive investment for medical professionals seeking a thriving practice environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Upland
    County
    San Bernardino
    State
    California
    Longitude
    -117.6550015
    Latitude
    34.1082772

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    Similar Nearby for Lease

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      257 SF

      Upland Office Space Available

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      Medical Office Near San Antonio Hospital

      Two-story medical office building near San Antonio Regional Hospital.
      591 N 13Th Ave, Upland, CA 91786
      View Details
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      Medical office space with excellent frontage near downtown Upland.
      Upland, CA 91786
      View Details
    • $2,150 /Mo
      1,450 SF

      Upland Office Suite For Lease

      Well-maintained office suite in a desirable Upland location.
      715 N Mountain Ave, Upland, CA 91786
      View Details
    • Contact for pricing
      2,278 SF

      Office Space for Lease

      Office space available for lease in Upland, California.
      1785 Arrow Rte, Upland, CA 91786
      View Details
    • Contact for pricing
      5,000 SF

      Freestanding Building with Office Space

      Freestanding building featuring office and storage space for rent.
      924 W 9Th St, Upland, CA 91786
      View Details
    View Listing
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    Upland, CA 91786
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    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.

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