Updated Feb 27, 2025
Private Orange County Investor Acquires Mixed-Use Flex Center In San Bernardino For $6.79M
165 East Hospitality Lane
$6,789,000
$153/SF
Building Size
44,290 SF
Asset Type
Mixed-use
Closing
Feb 18, 2025
About this deal
AI
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.
Players
San Bernardino Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.34%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93