165 W Hospitality Ln - Flex FOR SALE


San Bernardino, CA 92408
$7,450,000 USD
951-479-7994
165 W Hospitality Ln, San Bernardino, CA for Sale
$7,450,000 USD
Flex - FOR SALE
1/12
null | 7% Cap Rate

165 W Hospitality Ln
San Bernardino, CA 92408


HIGHLIGHTS

  • Priced Far Below Replacement Cost at $168/SF
  • Highly attractive debt available at a 5.1% rate for a 5-year loan (50% LTV & 1 to 5 years interest only)
  • An estimated $345,000 in capital improvements over the last 5 years including a new roof, multiple new HVAC units, landscaping improvements, and more.
  • Located in the Tri-City Commercial Hub, a region with 180,000 SF of flex space and a record low vacancy rate of 1.60% among the flex product type.
  • Highly adaptable flex space equipped to accommodate a diverse mix of tenant types: restaurant, healthcare, education, government, office, fitness, etc
  • The property consists of 32 units and offers an income stream from 24 diverse tenants, providing a hedge against significant vacancy risk.

OVERVIEW

Progressive Real Estate Partners is proud to present the opportunity to acquire this 100% leased multi-tenant flex center – a highly adaptable, 32-unit flex property hosting 24 tenants at below-market rents averaging just $1.29/SF (Modified Gross). Priced at just $168/SF, the property significantly falls below replacement cost. Its ±330 feet of frontage along Hospitality Lane distinguishes it as one of the few flex properties in the area with "retail-like" visibility, enabling it to accommodate a diverse mix of tenants. Over the past 5 years, an estimated $345,000 has been invested in capital improvements, including a new roof, multiple HVAC units, a fresh paint scheme, fenced trash enclosures, low-maintenance/drought-tolerant landscaping, LED lighting, and more. The vacancy rate for the 180,000 SF of flex space within the Tri-City Commercial Hub sits at a record low of 1.60%, offering investors an asset type with limited supply, high demand, virtually no new construction, and the potential for rising rents.

FOR SALE DETAILS

PRICE

$7,450,000 USD

PRICE/SF

$168 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

100% Leased Multi-Tenant Flex Center

PROPERTY TYPE

Flex

ADD'L SUBTYPES

Storefront Retail/Office, Showroom, Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

2.91

LAND SF

126,760

ZONING

RC

APN/PARCEL ID

0141-402-20

ASK ABOUT THIS PROPERTY

Greg Bedell, CCIMProgressive Real Estate PartnersMore Info
951-479-7994

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Greg Bedell, CCIMProgressive Real Estate PartnersMore Info
951-479-7994

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.