324 Base Line StSan Bernardino, CA 92410

Property Details for 324 Base Line St

Year built

1966

Property size (Sq ft)

49,045 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 49,045 square foot retail center in San Bernardino, CA presents a compelling value-add and redevelopment opportunity. Situated on a 15.7-acre lot (246,465 sq ft) at 324 W Base Line St, 92410, this single-story, 1966-built property (renovated in 2016) boasts a prominent location at a high-traffic intersection (over 38,000 cars daily). Currently housing two tenants with active liquor licenses and a 59.64% occupancy rate, the center generates a NOI of $305,488, with an asking price of $5,450,000 ($111.12/sq ft) and a 5.61% cap rate. The property features 233 parking spaces and a 40-foot pylon sign. Significant capital improvements have been made to the roof, building, and interior infrastructure of the main anchor space. The property benefits from flexible landlord termination rights within existing leases. A substantial 68,000 square foot outparcel offers significant pad development potential, previously occupied by a sit-down restaurant with existing utilities and three curb cuts. Located in an Opportunity Zone and Transit Overlay District (CG-1 zoning), the property is ideally positioned near the 215 Freeway, 322 recently constructed affordable housing units, and eight major schools (5,160 students, 630 faculty). The site's strategic location between California State University San Bernardino and San Bernardino Valley College, combined with a densely populated area (156,000 within a three-mile radius, average household income $55,358, average household retail expenditure $99,340), and proximity to the San Bernardino International Airport (undergoing a $200 million redevelopment), creates a strong investment case. The land value is $22/sq ft. The sale is offered as a fee simple transaction and is suitable for a 1031 exchange. APN: 0145-244-28-0000, 0145-244-23-0000, 0145-244-22-000, 0145-244-21-00000. Rent bumps are included.

Location Insight

City

San Bernardino

County

San Bernardino

State

California

Latitude

34.1224

Longitude

-117.29

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