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Private Orange County Investor Acquires Mixed-Use Flex Center In San Bernardino For $6.79M
SOLD
$6,789,000
California
See Similar DealsMixed-use44,290 SF
Sold 02/18/2025
SOLD
Private Orange County Investor Acquires Mixed-Use Flex Center In San Bernardino For $6.79M
165 East Hospitality Lane
See Similar DealsMixed-use44,290 SF
Sold 02/18/2025
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$153
Total Square Footage:44,290 SF
Transaction Type:Sale
A mixed-use asset located at 165 East Hospitality Lane in San Bernardino, California, was sold for $6,789,000. The property spans 44,290 square feet with a price per square foot of $153. It features a multi-tenant flex center that is 93% occupied.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $6,789,000
- Address: 165 East Hospitality Lane
- Market: San Bernardino
- Square Footage: 44,290
- Price per Square Foot: $153
- Broker Representatives: Greg Bedell and Lance Mordachini - Progressive Real Estate Partners
A private investor from Orange County acquired the property in an all-cash transaction, with the strong demand for small commercial spaces leading to 16 offers on the 93% occupied property. The seller was based in Los Angeles and was represented by Greg Bedell and Lance Mordachini of Progressive Real Estate Partners.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$362,080.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,119.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,183.32
Annual Debt Service$386,199.88
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