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Investment Highlights

  • Value-add opportunity for a multi-tenant retail site on the high-trafficked and signalized corner of Highland and Waterman Avenues in San Bernardino.
  • Offering includes a drive-thru restaurant on its own 0.76-acre parcel and desirable commercial general (CG-1) zoning.
  • Receive stable cash-flow from long-term tenants such as Baker's Drive Thru, Subway, Fiesta Auto Insurance, Nick's Smog Check, and Clear Channel.
  • Visible to over 27,022 vehicles per day, further enhanced by an on-site billboard that provides both additional exposure and income potential.
  • Less than a mile from the 210 Freeway on/off ramp and 1.4 miles from the 215 Freeway exit, experience great connectivity to the Inland Empire.
  • Surrounded by major retailers, local businesses, and healthcare such as Dignity Health, Starbucks, Denny's, US Bank, and Circle K.

Executive Summary

This multi-tenant retail opportunity is prominently positioned on a heavily trafficked, signalized corner in San Bernardino, California, delivering excellent visibility and access. The center is anchored by strong, recognizable tenants, including Subway, Baker’s Drive-Thru, and various other established retailers, which drive consistent daily traffic and consumer demand. The property also includes a freestanding drive-thru restaurant situated on its own parcel, further enhancing the site’s versatility and long-term value.

With tenants averaging over 18 years of occupancy at this location, the asset demonstrates exceptional stability and a proven commitment from tenants. Additionally, an on-site billboard provides a supplemental income stream and increased exposure to the property. Together, these attributes create a compelling, income-producing investment in a high-visibility, growth corridor of San Bernardino.

San Bernardino, located in the heart of the Inland Empire, is one of Southern California’s most dynamic retail markets. With a population of over 220,000 residents and more than 4.5 million people within a 30-mile radius, the city offers a robust consumer base for retailers and investors alike. The median age of 32 reflects a young and growing population, while household incomes averaging $67,000 per year create consistent demand for shopping, dining, and entertainment options.

San Bernardino is strategically positioned at the junction of Interstates 10, 215, and 210, offering exceptional visibility and access for both local and regional traffic. Anchored by California State University, San Bernardino, which serves over 19,000 students, and supported by major employers in healthcare, logistics, and government, the city draws a diverse and stable workforce. Ongoing revitalization efforts and new housing developments are fueling growth and increasing retail demand, making San Bernardino a compelling destination for retailers and a promising opportunity for real estate investors.

The net operating income (NOI) is an estimated figure based on current expenses and a percentage of sales leases. Inquire with KW Commercial Inland Empire for additional details.

Property Facts

Price $2,995,000
Price / SF $545.14 / SF
Cap Rate 4.67%
Sale Type Investment
Status Active
Number of Properties 3
Individually For Sale 0
Total Building Size 5,494 SF
Total Land Area 0.76 AC

Properties

Property Name / Address Property Type Size Year Built Individual Price
297 E Highland Ave, San Bernardino, CA 92404 Retail 1,986 SF 1984 -
2180 N Waterman Ave, San Bernardino, CA 92404 Retail 1,780 SF 1965 -
291 E Highland Ave, San Bernardino, CA 92404 Retail 1,728 SF 1952 -
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  • Listing ID: 38072133

  • Date on Market: 10/14/2025

  • Last Updated:

  • Address: N Waterman Ave & E Highland Ave, San Bernardino, CA

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