242 E Hospitality Lane

    San Bernardino, CA 92408
    • $1,799,000
    • STATUS: Active
    • ON SITE: 189 days
    • ID#: CV18132728
    UPDATED: 12 min ago
    $1,799,000
    • 0
      BEDS
    • 39047
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,138
      SQFT
    • $350
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1979
    County:

    School Ratings & Info

    Description

    MGR Real Estate is pleased to offer this prime investment opportunity located at 242 E. Hospitality Lane in San Bernardino, California. The subject property is a freestanding restaurant (Star Crab), approximately 5,138 square-foot building situated on approximately 39,047 square-foot lot with easy ingress/egress and abundance of parking @ 6.22/1,000 SF parking ratio. The property was originally built in 1979 and was completely renovated in 2017 with major improvements to the interior and exterior of the building. It's a must see!! Current tenant has 4-years remaining on his 5-year triple-net lease with 4 percent yearly increase, including the two five-year option periods.The subject property is in the Hospitality Lane corridor of Restaurant Row for the region and the office hub for major companies. The property is across the street from La Quinta Inn and Hilton Hotels, and surrounded by National Food Retailers , including Red Lobster, I HOP, Claim Jumper, EL Torito, Lotus Gardens, Black Angus, and King Chinese Buffet. Excellent access to the I-10 & I-215 Freeways and just west of the Waterman Avenue thoroughfare.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-12T11:27:24.737. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.sonyathebroker.com/homes/84258411

    242 E Hospitality Lane San Bernardino, CA 92408

    • Price: $1,799,000
    • Status: Active
    • Updated: 12 min ago
    • ID#: CV18132728
    0
    Beds
    0
    Baths
    0
    ½ Baths
    39047
    Acres
    5,138
    SQFT
    $350
    $/SQFT
    1979
    Built
    Neighborhood:
    274 - San Bernardino
    County:
    San Bernardino
    Area:
    274 - San Bernardino
    Property Description
    MGR Real Estate is pleased to offer this prime investment opportunity located at 242 E. Hospitality Lane in San Bernardino, California. The subject property is a freestanding restaurant (Star Crab), approximately 5,138 square-foot building situated on approximately 39,047 square-foot lot with easy ingress/egress and abundance of parking @ 6.22/1,000 SF parking ratio. The property was originally built in 1979 and was completely renovated in 2017 with major improvements to the interior and exterior of the building. It's a must see!! Current tenant has 4-years remaining on his 5-year triple-net lease with 4 percent yearly increase, including the two five-year option periods.The subject property is in the Hospitality Lane corridor of Restaurant Row for the region and the office hub for major companies. The property is across the street from La Quinta Inn and Hilton Hotels, and surrounded by National Food Retailers , including Red Lobster, I HOP, Claim Jumper, EL Torito, Lotus Gardens, Black Angus, and King Chinese Buffet. Excellent access to the I-10 & I-215 Freeways and just west of the Waterman Avenue thoroughfare.
    Exterior Features

    Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Acres

    Interior Features

    Condo Area Units Square Feet Laundry Features See Remarks

    Property Features

    Additional Parcels YN No Asset Class Retail Building Area Units Square Feet Building Name Star Crab Building Status Existing Business Type Restaurant Cap Rate 6.00 Country Us Current Use Comments Seafood Restaurant Investment Property YN Yes Land Lease YN Yes Land Use Retail Laundry YN Yes Leasable Area Units Square Feet Max Total Area Units Square Feet Min Total Area Units Square Feet Occupancy Occupied Property Sub Type Retail Special Listing Conditions Standard Water Source Public

    Listing provided courtesy of Freddy Barajas of Mgr Real Estate, Inc..


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-12T11:27:24.737. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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