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738 S Waterman Ave,Unit C, San Bernardino, CA 92408
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Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
58,760 SF
Lot
3.82 ac (166,399 SF)
APN
0136-401-48-0000
UPID
US10-0960892
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hardware & Home Improvement HVAC Service
-
Medical Clinic
-
Sustainability Organization
-
Insurance Agency
-
Vocational School Training Center
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.53M
Comparable Approach
Comparable
$10.79M
Blend (final)
Blend
$8.75M
Owner & transaction history
since 2017
6 recorded transactions
Zoning & alternative use
Top alternative use upside
Auto repair, garage
$11.8M
+10.3%
Apartment house (5+ units)
$11.8M
+10.0%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 6 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$8.75M
Value range
$7.88M – $9.63M
±10% around blend
Estimated value / SF
$149 / SF
Confidence
High
6 county-verified comps
Property data
75
Market benchmarks
100
Comparable evidence
60
Income certainty
100
$7.88M
blend $8.75M
$9.63M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
58,760 SF
Lot area
3.82 ac
Year built
1987
APN
0136-401-48-0000
Assessed value
$5,916,713
Annual tax
$73,590
3
Income approach: direct capitalization
Partial preview
Income approach indication
$8.53M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$9.24M
@ 6.5% CAP return
$8.53M
@ 7% CAP return
$7.92M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$73,590
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$13.57M
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
8.6 mi away · 53,606 SF
13.0 mi away · 48,643 SF
14.4 mi away · 53,085 SF
17.9 mi away · 45,856 SF
21.3 mi away · 41,820 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$8.75M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 68 sales
$182
-18%
Submarket 105 sales
$182
-18%
County 841 sales
$267
-44%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $149/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+10%
vs current-use indication
Apartment House (5+ Units)
Industrial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$132k
Move the market yield to see immediate price impact.
Value / SF
$2
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$8k
$166k
$119k
$92k
$9k
$185k
$132k
$103k
$10k
$203k
$145k
$113k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$3.60M
8.3 mi · Feb 2026 · $81/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$73,590
Tax year 2024
Assessed value
$5,916,713
Assessed 2024
Previous assessed
$5,916,713
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$1,513,314
Assessed improvement
$4,403,399
Applied tax rate
7.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
For Lease
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Units
3
Total area
58,760 SF
Lot
3.82 ac (166,399 SF)
APN
0136-401-48-0000
UPID
US10-0960892
Jurisdiction
SAN BERNARDINO
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Units
3
Lot
3.82 ac
Zoning
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.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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