For Sale
$7,450,000

165 Hospitality LnSan Bernardino, CA 92408

100% Leased, High-Demand Flex Space

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fully leased, 44,291 square foot flex center in San Bernardino, CA. Boasting 24 diverse tenants in 32 units, this property offers a strong, diversified income stream with a 7.00% cap rate and a $521,800 NOI. Situated on a 2.9-acre lot at a major commercial hub with high visibility on Hospitality Lane, the property benefits from two signalized intersections and over 30,200 daily car counts. The center features 14-foot clear heights, multiple office/retail buildouts, and 22 grade-level bay doors, accommodating a wide range of tenants. Average suite size is 1,384 square feet, ranging from 956 to 1,930 SF, easily combinable or divisible. Recent capital improvements totaling approximately $345,000 enhance the property's value, including a new roof, HVAC units, fresh paint, and LED lighting. The property is zoned CR-3 (Commercial, Regional – Tri-City/Club) and features a clean Phase I environmental report (July 2023). Built in 1980, the property offers significant upside potential with low, replaceable rents and opportunities to convert modified gross leases to triple net over time. The current asking price is $7,450,000 ($168.21/SF). The high demand for small-format flex space in this area, coupled with limited supply and embedded rent increases (2-5% annually), makes this a compelling investment with minimal downside risk.

Highlights

  • Fully occupied flex center with 24 tenants.
  • High-demand location in the Tri-City Commercial Hub, a 4.4 million square foot center at the intersection of freeways 10 & 215, with 51,000 daytime employees.
  • High demand, low supply of small-format flex space; 1.60% vacancy rate in the Hub for flex space (CoStar).
  • Smaller, easily leasable suites averaging 1,384 square feet (956-1,930 SF), with only two vacancies under 2,000 SF in the Hub (CoStar).
  • Diverse income stream from 24 tenants minimizing vacancy risk.
  • 330 feet of frontage on Hospitality Lane, the area's primary commercial thoroughfare.

Property Details for 165 Hospitality Ln

Property type
Industrial properties, Flex space
Square Feet
44,291 SF
Year Built
1980
Lot Size (sq. ft)
126,324 SF
Units
32

Location Insight

City
San Bernardino
County
San Bernardino
State
California
Latitude
34.0656797
Longitude
-117.2863168
165 Hospitality Ln, San Bernardino, California

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165 Hospitality Ln
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