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Commerce Plaza

155 W Hospitality Ln, San Bernardino, CA 92408

Listing Price: $3,965,000

Cap Rate
6.60%
Gross SF
35,940
Rentable SF
34,749
Price/Gross SF
$110.32
Lot Size
1.96 acres
Year Built
1980

Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to present for-sale the Commerce Plaza located in the heart of the San Bernardino Business District. This investment provides an opportunity for the investor to create value through rental upside, leasing, and better management. The subject property also presents a great opportunity for an owner/user to purchase a low cost per foot property with only a 10% down payment utilizing favorable SBA financing. An owner/user will also greatly benefit from the other tenants effectively paying for the mortgage of the property. It may be more economical to own the Commerce Plaza rather than to lease space elsewhere considering today’s historically low interest rates and the potential tax advantages of real estate ownership. Commerce Plaza is an approximately 34,749 rentable square foot, 2-story garden style professional building with elevator service. The property was built in 1980 with a lot size of 1.94 acres Commerce Plaza features a two-story atrium, a waterfall & stream, an elevator, and offers a 4/1,000 parking ratio. Commerce Plaza is located on Hospitality Lane in the heart of the business district of San Bernardino. The plaza is situated on the signalized corner of Hospitality Lane and Commercenter Place. Nearby tenants include the San Bernardino County Offices, Home Depot, Office Depot, Best Buy, Sam’s Club, 24 Hour Fitness, LA Fitness, In-N-Out Burger, Raising Canes, Applebee’s, Panera Bread, Buffalo Wild Wings, Double Tree Inn, La Quinta Inn and many other national names. San Bernardino is a city located in the Inland Empire region of Southern California. The city serves as the county seat of San Bernardino County, California. As one of the Inland Empire's anchor cities, San Bernardino spans 81 square miles on the floor of the San Bernardino Valley to the south of the San Bernardino Mountains. As of 2019, San Bernardino has a population of 215,784 making it the 17th-largest city in California and the 102nd-largest city in the United States. California State University, San Bernardino is located in the northwestern part of the city. The university also hosts the Coussoulis Arena and the Robert and Frances Fullerton Museum of Art. Other attractions in San Bernardino include ASU Fox Theatre, the McDonald's Museum (located on the original site of the world's first McDonald's), the California Theatre, and the San Manuel Amphitheater, the largest outdoor amphitheater in the United States. In addition, the city is home to the Inland Empire 66ers minor-league baseball team, which plays their home games at San Manuel Stadium in downtown San Bernardino. The city is also home to the Orangeshow Fairgrounds & Events Center, Loma Linda Health Systems, San Bernardino County Offices, Stater Brothers Markets Corporate Office and an Amazon Distribution Center. The city's location close to the Cajon and San Gorgonio passes, and at the junctions of the I-10, I-215, and SR-210 freeways, positions it as an intermodal logistics hub. The city hosts the Burlington Northern and Santa Fe Railway's intermodal freight transport yard, the Yellow Freight Systems' cross-docking trucking center, and Pacific Motor Trucking. Large warehouses for Kohl's, Mattel, Pep Boys, and Stater Bros. have been developed near the San Bernardino International Airport.

Investment Highlights

  • Ideal Value-Added or Owner/User Opportunity
  • Only $114/Square Foot; Priced Far Below Replacement Cost
  • Actual Cap Rate 6.64%; Proforma Cap Rate 8.06%
  • Historically Low Financing of 3.75-4.30%
  • 10% Down Payment for an Owner User
  • Located in the Heart of the San Bernardino Business District
  • Convenient Access to Freeways, Banking, Restaurants, Retail & Other Services

Exclusively Listed By

Listing Price: $3,965,000

Cap Rate
6.60%
Gross SF
35,940
Rentable SF
34,749
Price/Gross SF
$110.32
Lot Size
1.96 acres
Year Built
1980

Investment Highlights

  • Ideal Value-Added or Owner/User Opportunity
  • Only $114/Square Foot; Priced Far Below Replacement Cost
  • Actual Cap Rate 6.64%; Proforma Cap Rate 8.06%
  • Historically Low Financing of 3.75-4.30%
  • 10% Down Payment for an Owner User
  • Located in the Heart of the San Bernardino Business District
  • Convenient Access to Freeways, Banking, Restaurants, Retail & Other Services

Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to present for-sale the Commerce Plaza located in the heart of the San Bernardino Business District. This investment provides an opportunity for the investor to create value through rental upside, leasing, and better management. The subject property also presents a great opportunity for an owner/user to purchase a low cost per foot property with only a 10% down payment utilizing favorable SBA financing. An owner/user will also greatly benefit from the other tenants effectively paying for the mortgage of the property. It may be more economical to own the Commerce Plaza rather than to lease space elsewhere considering today’s historically low interest rates and the potential tax advantages of real estate ownership. Commerce Plaza is an approximately 34,749 rentable square foot, 2-story garden style professional building with elevator service. The property was built in 1980 with a lot size of 1.94 acres Commerce Plaza features a two-story atrium, a waterfall & stream, an elevator, and offers a 4/1,000 parking ratio. Commerce Plaza is located on Hospitality Lane in the heart of the business district of San Bernardino. The plaza is situated on the signalized corner of Hospitality Lane and Commercenter Place. Nearby tenants include the San Bernardino County Offices, Home Depot, Office Depot, Best Buy, Sam’s Club, 24 Hour Fitness, LA Fitness, In-N-Out Burger, Raising Canes, Applebee’s, Panera Bread, Buffalo Wild Wings, Double Tree Inn, La Quinta Inn and many other national names. San Bernardino is a city located in the Inland Empire region of Southern California. The city serves as the county seat of San Bernardino County, California. As one of the Inland Empire's anchor cities, San Bernardino spans 81 square miles on the floor of the San Bernardino Valley to the south of the San Bernardino Mountains. As of 2019, San Bernardino has a population of 215,784 making it the 17th-largest city in California and the 102nd-largest city in the United States. California State University, San Bernardino is located in the northwestern part of the city. The university also hosts the Coussoulis Arena and the Robert and Frances Fullerton Museum of Art. Other attractions in San Bernardino include ASU Fox Theatre, the McDonald's Museum (located on the original site of the world's first McDonald's), the California Theatre, and the San Manuel Amphitheater, the largest outdoor amphitheater in the United States. In addition, the city is home to the Inland Empire 66ers minor-league baseball team, which plays their home games at San Manuel Stadium in downtown San Bernardino. The city is also home to the Orangeshow Fairgrounds & Events Center, Loma Linda Health Systems, San Bernardino County Offices, Stater Brothers Markets Corporate Office and an Amazon Distribution Center. The city's location close to the Cajon and San Gorgonio passes, and at the junctions of the I-10, I-215, and SR-210 freeways, positions it as an intermodal logistics hub. The city hosts the Burlington Northern and Santa Fe Railway's intermodal freight transport yard, the Yellow Freight Systems' cross-docking trucking center, and Pacific Motor Trucking. Large warehouses for Kohl's, Mattel, Pep Boys, and Stater Bros. have been developed near the San Bernardino International Airport.

Exclusively Listed By

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