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Food 4 Less & Ross Dress For Less 555 W 2nd St 83,760 SF 100% Leased Retail Building San Bernardino, CA 92401 $11,776,000 ($140.59/SF) 6.69% Cap Rate
Investment Highlights
- Food 4 Less and Ross Dress For Less is a ±83,760 square feet retail center situated on over six (6) acres.
- Food4Less boasts reported store sales over $520/SF (2.0% rent vs sales ratio) and Ross has estimated annual sales of $9million (Source: Placer.ai).
- The property is leased to strong national tenants including Food 4 Less and Ross Dress For Less, providing stable and predictable income.
- With base rents running under $10 per square foot per year, the existing rents are well below market.
- Tenants are responsible for paying their full pro-rata share of common area maintenance (CAM) expenses, property taxes, and insurance.
- The center boasts eleven (11) driveway access points with ingress/egress from four (4) streets: F Street, Rialto Avenue, 2nd Street, and E Street.
Executive Summary
CBRE is pleased to offer for sale Food 4 Less and Ross Dress For Less – a ±83,760-square-foot, grocery-anchored, two-tenant shopping center located in San Bernardino. The center consists of an ideal mix of national tenants with strong sales and below market rents. Priced at just $141 per square foot on improvements, the property is priced well below replacement costs. Ross and Food4Less recently extended their leases - demonstrating their commitment to the location.
Both tenants are on triple-net leases, paying their pro-rata share of common area maintenance expenses, property taxes, and insurance. The property is over six (6) acres and runs block-to-block from W 2nd Street to Rialto Avenue, at signalized corners with both F Street and E Street. It is ideally located in Downtown San Bernardino just east of the I-215 Freeway’s 2nd Street on/off ramp, making it a commuter friendly and strategic destination for nearby residents.
Both tenants are on triple-net leases, paying their pro-rata share of common area maintenance expenses, property taxes, and insurance. The property is over six (6) acres and runs block-to-block from W 2nd Street to Rialto Avenue, at signalized corners with both F Street and E Street. It is ideally located in Downtown San Bernardino just east of the I-215 Freeway’s 2nd Street on/off ramp, making it a commuter friendly and strategic destination for nearby residents.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
83,760 SF
Building Class
C
Year Built/Renovated
1973/2010
Price
$11,776,000
Price Per SF
$140.59
Cap Rate
6.69%
NOI
$787,870
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
3 Exterior
Building FAR
0.32
Lot Size
6.09 AC
Opportunity Zone
Yes
Zoning
GC
Parking
274 Spaces (3.27 Spaces per 1,000 SF Leased)
Frontage
522’ on W 2nd St
Amenities
- Pylon Sign
- Signage
- Monument Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 0134-371-10 | Improvements Assessment | $11,537,968 |
| Land Assessment | $2,898,162 | Total Assessment | $14,436,130 |
Property Taxes
Parcel Number
0134-371-10
Land Assessment
$2,898,162
Improvements Assessment
$11,537,968
Total Assessment
$14,436,130
Contacts
-
Patrick Wade -
Alex Kozakov -
Matthew Greenberg -
Bo Henderson -
Jack Webber -
Vivian Tran -
CBRE, Inc.
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Food 4 Less & Ross Dress For Less | 555 W 2nd St
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