PRO FORMA CAP RATE
780-790 Inland Center Drive | San Bernardino, CA
Marcus & Millichap is pleased to present Inland Center in San Bernardino, California. Inland Center consists of a 33,708 square feet of in-line real estate sitting on a 1.3-acre parcel. The property sits at the on-ramp to the Interstate 215 freeway directly across from the Inland Center Mall The Inland Center Mall is a one million square foot institutional-quality property anchored by Macy’s, Sears, Forever 21 and JC Penney with over 100 stores. The property currently has a 10,926 vacant end space that upon leasing would generate a 7.8% yield with a conservative rental rate of .60 cents per square foot. The real estate is being offered below replacement costs at $74.14, with potential to yield major rental upside with the right investor who can create value. Additionally, being located inside the opportunity zone there are significant tax advantages that other value-add properties do not offer.
San Bernardino City serves as the county seat of San Bernardino County, California. San Bernardino has been experiencing tremendous economic growth as demonstrated by local data showing low unemployment, positive wage growth and evidence of a healthy housing market. Its assets include an innovation corridor of close to two dozen colleges and universities supporting a strong, diverse workforce along with an unparalleled collection of roadways, runways and railways that lead to regional, national and international business centers.
Inland Center, San Bernardino, California
Opportunity Zoned Real Estate
Significant Tax Advatages
Offered Below Replacement Costs at $74.14 PSF
7.80% Cap with Conservative Lease Up
True Value Add Property
Across From Inland Mall and Off and On-Ramps to I-215
158,000 Cars Per Day