In Line Shops

Market Price

4414 University Pkwy, San Bernardino, CA 92407

For Lease

Retail Neighborhood Center

Active

Last Updated: 02/27/2025

Details:

Cap Rate: 5.45%

NOI: $108,827

Building Size: 3,943 sqft

Lot Area: 0.423 acres

Occupancy: 100%

Lease Type: Triple Net

Units: 3

Year Built: 2007

Price Per Sqft: $506.72

Tenancy: Multiple

Offered by

Albert Lopez

Senior Retail Specialist

Progressive

#CA DRE License # 01409003

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Highlights:

INVESTMENT HIGHLIGHTS
• Ideal food mix for the area's college students - sandwiches, pizza, and boba tea. Students can conveniently pick up food on the way to/from class or a workout.
• All leases are NNN, and are at market rates with rental increases.
• Subway and Little Caesars are corporate leases
• All leases have built-in rent increases which will bring the Year 5 NOI to $122,264/yr, equating to a 6.1% cap rate.
• Income is well diversified, with each tenant contributing one-third to building area and NOI.
• Strong operating history: Little Caesars has been in this location since 2006 and Subway has been in this center since 2010.
LOCATION HIGHLIGHTS
• Located right next to a 32,000 SF state-of-the-art, brand new LA Fitness facility (opened Feb. 2018), which was converted to LA Fitness from a former Staples building. LA Fitness showed its commitment to the area by signing a new 10-year lease. Subway is a perfect complement to LA Fitness for the gym patron who wants a quick healthy meal.
• Conveniently located at the University Ave. exit along I-215 in a highly desirable college area near Cal State University San Bernardino (CSUSB), which has over 20,000 enrolled students.
• Surrounded by many apartment communities rented by CSUSB students. College students love fast food like Subway, Little Caesars, and Boba Tea!
• University Town Center is anchored by Ralphs supermarket, and co-tenants in the center include Del Taco, Carl's Jr, Wienerschnitzel, AT&T, Jiffy Lube, and KFC.
• Heavy traffic counts of 29,000 CPD along University Parkway and 72,000 CPD along I-215 fwy.
• Located across the street from a brand new Starbucks Drive-Thru (opened Sept. 2017)

Description:

Join Ralphs, LA Fitness, AT&T, Carl’s JR, KFC, Starbucks, Dutch Bros, iHOP, McDonald's and others

Conveniently located at the University Ave. exit along I-215 and in the University Town Center, a busy shopping center anchored by Ralphs grocery store and LA Fitness.