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Shopping Neighborhood

Base Line Shopping Center

324-336 W Base Line St, San Bernardino, CA 92410

Listing Price: $5,450,000

Cap Rate
5.61%
Gross SF
49,045
Rentable SF
49,045
Price/Gross SF
$111.12
Lot Size
5.66 acres
Year Built
1966

Investment Overview

Base Line Shopping Center, a sprawling 49,045 square-foot neighborhood center nestled on approximately 5.7 acres, presents a unique investment opportunity. What sets it apart is its blend of existing cash flow and substantial redevelopment potential. Unlike many properties, it doesn't carry restrictive CC&Rs, making it a versatile asset for future strategies, including potential break-up sales.

Noteworthy improvements, including upgrades to the roof, edifice, and interior infrastructure of the main anchor space, underscore the commitment to maintaining and enhancing the property's value. Tenant visibility is further boosted by a prominent 40-foot-tall pylon sign along Base Line Street. Remarkably, the cost basis stands at a competitive $111 per square foot, significantly below replacement cost, positioning this investment favorably.

The existing leases offer flexibility with landlord termination rights, granting a degree of control. Additionally, active liquor licenses held by current tenants add extra appeal.

There's significant potential in leasing up developable pads, especially a ±68,000 square-foot outparcel that can accommodate single or dual drive-thru configurations. This outparcel, once a sit-down restaurant, already has utilities in place and benefits from three exclusive curb-cuts.

The location is strategic, situated within a densely populated community, Opportunity Zone, and Transit Overlay District Zone. As the first neighborhood shopping center upon exiting the 215-Freeway, it enjoys excellent accessibility with multiple curb cuts on Base Line Street, Arrowhead Avenue, D Street, and an exclusive loading area from 13th Street. Nearby affordable housing developments strengthen the local community.

Furthermore, the property's CG-1 zoning allows for the construction of 266 or more units for senior citizen and senior congregate care housing, tapping into a growing market segment.

In terms of location advantages, it faces limited competition within the City and County of San Bernardino, serving as an essential neighborhood hub at the bustling intersection of North Base Line Street and North Arrowhead Avenue, with over 38,000 cars passing daily.

San Bernardino is experiencing steady population and job growth, driven by education, retail, and distribution sectors, with proximity to the expanding San Bernardino International Airport further enhancing its appeal.

Market drivers and demographics are favorable, with proximity to major college campuses, a densely populated area, and plans for additional housing units in the city. The property is also surrounded by eight major schools, providing a stable customer base.

In summary, Base Line Shopping Center offers a compelling blend of existing cash flow and significant redevelopment potential in a prime location.

Investment Highlights

  • • ±68,000 Square Foot Outparcel Provides New Ownership With the Flexibility to Accommodate either a Single or Dual Drive-Thru Configuration.
  • • Developable Outparcel was Formerly a Sit-Down Restaurant With Existing Utilities to the Site.
  • • Developable Outparcel has Three (3) Existing Curb-Cuts that Exclusively Cater to the Pad(s).
  • • Base Line Shopping Center is an ±49,045 Square Foot Neighborhood Center on ±5.7 Acres Providing a Near Term Redevelopment Opportunity With In-Place Cash Flow. • Absence of CC&Rs and Existing Multi-Parcel Site Provides New Ownership With the Opportunity for Future Break-Up Sale Strategy. • Significant Capital Improvements made to the Roof, Edifice and Interior Infrastructure of Main Anchor Space. • Prominent 40 Foot Tall Pylon Sign on Base Line Street Bolsters Tenant Visibility and Branding Opp
  • • Site Located in an Opportunity Zone and a Transit Overlay District Zone. • First Neighborhood Shopping Center Upon Exiting the 215-Freeway and Heading East along Base Line Street. • Desirable Site Accessibility Resulting from Four (4) Curb Cuts on Base Line Street, Two (2) Curb Cuts on Arrowhead Avenue, One (1) Curb Cut on D Street and Exclusive Loading Area from 13th Street. • Close Proximity to 322 Affordable Housing Units Recently Developed by Institutional Developer (National CORE). • CG-1
  • • Positioned Within the City and County of San Bernardino, the Shopping Center Serves as an Essential Neighborhood Hub. • The Property's Strategic Location at the Bustling Intersection of North Base Line Street and North Arrowhead Avenue Yields High Traffic, With over 38,000 Cars Per Day.
  • • The City of San Bernardino Stands as a Beacon of Steady Population and Job Growth. • Over the Past Three Years, the Addition of 316,000 Jobs is Attributed to the City's Emphasis on Education, Retail, and Distribution Sectors. • The Property Enjoys Close Proximity, a Mere Three Miles, to the San Bernardino International Airport (SBD), which Boasts Remarkable Cargo Capabilities. Notably, a $200 Million Redevelopment Project has been Approved, Solidifying the Airport's Status as a Robust Air Carg
  • • Strategic Placement Between Two Significant College Campuses Enhances the Property's Appeal: Located 4.5 Miles South of California State University San Bernardino (CSUSB) and 2.5 Miles North of San Bernardino Valley College. • A Densely Populated Area Within a Three Mile Radius Encompasses Around 156,000 Individuals, With an Average Household Income of $55,358. Moreover, the Average Household Retail Expenditure Reaches $99,340, Reflecting Strong Consumer Purchasing Power. • Recently the City o

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Financing By

Shopping Neighborhood

Base Line Shopping Center

Listing Price: $5,450,000

Cap Rate
5.61%
Gross SF
49,045
Rentable SF
49,045
Price/Gross SF
$111.12
Lot Size
5.66 acres
Year Built
1966

Investment Highlights

  • • ±68,000 Square Foot Outparcel Provides New Ownership With the Flexibility to Accommodate either a Single or Dual Drive-Thru Configuration.
  • • Developable Outparcel was Formerly a Sit-Down Restaurant With Existing Utilities to the Site.
  • • Developable Outparcel has Three (3) Existing Curb-Cuts that Exclusively Cater to the Pad(s).
  • • Base Line Shopping Center is an ±49,045 Square Foot Neighborhood Center on ±5.7 Acres Providing a Near Term Redevelopment Opportunity With In-Place Cash Flow. • Absence of CC&Rs and Existing Multi-Parcel Site Provides New Ownership With the Opportunity for Future Break-Up Sale Strategy. • Significant Capital Improvements made to the Roof, Edifice and Interior Infrastructure of Main Anchor Space. • Prominent 40 Foot Tall Pylon Sign on Base Line Street Bolsters Tenant Visibility and Branding Opp
  • • Site Located in an Opportunity Zone and a Transit Overlay District Zone. • First Neighborhood Shopping Center Upon Exiting the 215-Freeway and Heading East along Base Line Street. • Desirable Site Accessibility Resulting from Four (4) Curb Cuts on Base Line Street, Two (2) Curb Cuts on Arrowhead Avenue, One (1) Curb Cut on D Street and Exclusive Loading Area from 13th Street. • Close Proximity to 322 Affordable Housing Units Recently Developed by Institutional Developer (National CORE). • CG-1
  • • Positioned Within the City and County of San Bernardino, the Shopping Center Serves as an Essential Neighborhood Hub. • The Property's Strategic Location at the Bustling Intersection of North Base Line Street and North Arrowhead Avenue Yields High Traffic, With over 38,000 Cars Per Day.
  • • The City of San Bernardino Stands as a Beacon of Steady Population and Job Growth. • Over the Past Three Years, the Addition of 316,000 Jobs is Attributed to the City's Emphasis on Education, Retail, and Distribution Sectors. • The Property Enjoys Close Proximity, a Mere Three Miles, to the San Bernardino International Airport (SBD), which Boasts Remarkable Cargo Capabilities. Notably, a $200 Million Redevelopment Project has been Approved, Solidifying the Airport's Status as a Robust Air Carg
  • • Strategic Placement Between Two Significant College Campuses Enhances the Property's Appeal: Located 4.5 Miles South of California State University San Bernardino (CSUSB) and 2.5 Miles North of San Bernardino Valley College. • A Densely Populated Area Within a Three Mile Radius Encompasses Around 156,000 Individuals, With an Average Household Income of $55,358. Moreover, the Average Household Retail Expenditure Reaches $99,340, Reflecting Strong Consumer Purchasing Power. • Recently the City o

Investment Overview

Base Line Shopping Center, a sprawling 49,045 square-foot neighborhood center nestled on approximately 5.7 acres, presents a unique investment opportunity. What sets it apart is its blend of existing cash flow and substantial redevelopment potential. Unlike many properties, it doesn't carry restrictive CC&Rs, making it a versatile asset for future strategies, including potential break-up sales. Noteworthy improvements, including upgrades to the roof, edifice, and interior infrastructure of the main anchor space, underscore the commitment to maintaining and enhancing the property's value. Tenant visibility is further boosted by a prominent 40-foot-tall pylon sign along Base Line Street. Remarkably, the cost basis stands at a competitive $111 per square foot, significantly below replacement cost, positioning this investment favorably. The existing leases offer flexibility with landlord termination rights, granting a degree of control. Additionally, active liquor licenses held by current tenants add extra appeal. There's significant potential in leasing up developable pads, especially a ±68,000 square-foot outparcel that can accommodate single or dual drive-thru configurations. This outparcel, once a sit-down restaurant, already has utilities in place and benefits from three exclusive curb-cuts. The location is strategic, situated within a densely populated community, Opportunity Zone, and Transit Overlay District Zone. As the first neighborhood shopping center upon exiting the 215-Freeway, it enjoys excellent accessibility with multiple curb cuts on Base Line Street, Arrowhead Avenue, D Street, and an exclusive loading area from 13th Street. Nearby affordable housing developments strengthen the local community. Furthermore, the property's CG-1 zoning allows for the construction of 266 or more units for senior citizen and senior congregate care housing, tapping into a growing market segment. In terms of location advantages, it faces limited competition within the City and County of San Bernardino, serving as an essential neighborhood hub at the bustling intersection of North Base Line Street and North Arrowhead Avenue, with over 38,000 cars passing daily. San Bernardino is experiencing steady population and job growth, driven by education, retail, and distribution sectors, with proximity to the expanding San Bernardino International Airport further enhancing its appeal. Market drivers and demographics are favorable, with proximity to major college campuses, a densely populated area, and plans for additional housing units in the city. The property is also surrounded by eight major schools, providing a stable customer base. In summary, Base Line Shopping Center offers a compelling blend of existing cash flow and significant redevelopment potential in a prime location.

Exclusively Listed By

Financing By

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