For Sale
$2,950,000

3996 Sierra WaySan Bernardino, CA 92405

13,400 SF Value-Add Retail Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional San Bernardino retail investment, priced at $2,950,000, offers a compelling value-add opportunity. The property comprises two buildings totaling 13,396 square feet, situated on a high-traffic corner at N Sierra Way and E 40th St, experiencing 34,000 vehicles daily. Currently featuring nine tenants across a multi-tenant lease structure (Gross Lease), the property boasts a 32.52% occupancy rate, with lease expirations in November 2024. The current NOI is $132,893, projecting a pro-forma NOI of $258,643, representing a pro-forma cap rate of 8.77%. Built in 1961 and 1982, the property sits on a 27,158 square foot lot and includes 46 parking spaces. The property's strategic location benefits from proximity to major national retailers including Cardenas Market, 7-Eleven, Walgreens, Stater Brothers, and TJ Maxx. The property is zoned CG-1 and offers significant potential for lease-up and increased profitability. This fee-simple ownership opportunity presents a strong value-add proposition for investors seeking to capitalize on the robust retail market in San Bernardino, California. The property's current occupancy and lease terms provide a clear path to significant NOI growth. The high traffic count and prominent location ensure strong visibility and tenant appeal. This is a rare chance to acquire a well-positioned retail center with substantial upside potential.

Highlights

  • 13,400 SF two-building retail strip center on a hard corner, N Sierra Way & 40th Street, San Bernardino, CA.
  • High-traffic location with 34,000 vehicles per day.
  • Excellent location near major national retailers including Cardenas Market, 7-Eleven, Walgreens, Stater Bros., and TJ Maxx.
  • Value-add opportunity with expiring 2024 leases and existing vacancies.
  • $2,950,000 asking price, 4.5% cap rate, 8.77% pro-forma cap rate, 32.52% occupancy.

Property Details for 3996 Sierra Way

Property type
Lifestyle centers, Power centers
Square Feet
13,396 SF
Year Built
1961
Buildings
2
Units
9

Location Insight

City
San Bernardino
County
San Bernardino
State
California
Latitude
34.164863146753
Longitude
-117.28489490267
3996 Sierra Way, San Bernardino, California

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3996 Sierra Way
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