3996 Sierra WaySan Bernardino, CA 92405

Property Details for 3996 Sierra Way

Year built

1961

Property size (Sq ft)

13,396 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

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.

Location Insight

City

San Bernardino

County

San Bernardino

State

California

Latitude

34.1649

Longitude

-117.285

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