Value Add Neighborhood Shopping Center 324-336 W Base Line St

Significant Redevelopment/Value-Add Opportunity With In-Place Cash Flow:
• Base Line Shopping Center is an ±49,045 Square ft. Neighborhood Center on ±5.7 Acres Providing a Near Term Redevelopment Opportunity With In-Place Cash Flow.
• Absence of CC&Rs and Existing Multi-Parcel Site Provides New Ownership With the Opportunity for Future Break-Up Sale Strategy.
• Significant Capital Improvements made to the Roof, Edifice and Interior Infrastructure of Main Anchor Space.
• Prominent 40 ft. Tall Pylon Sign on Base Line Street Bolsters Tenant Visibility and Branding Opportunities.
• Attractive Basis at $111 Per Square ft. (Significantly Below Replacement Cost).
• Existing Leases Provide New Ownership With Flexible Landlord Termination Rights.
• Active Liquor Licenses Held by Both Existing Tenants.
Significant Upside Through Lease-Up of Developable Pads:
• ±68,000 Square ft. Outparcel Provides New Ownership With the Flexibility to Accommodate either a Single or Dual Drive-Thru Configuration.
• Developable Outparcel was Formerly a Sit-Down Restaurant With Existing Utilities to the Site.
• Developable Outparcel has Three (3) Existing Curb-Cuts that Exclusively Cater to the Pad(s).
Infill Neighborhood Site Within Densely Populated Community:
• Site Located in an Opportunity Zone and a Transit Overlay District Zone.
• First Neighborhood Shopping Center Upon Exiting the 215-Freeway and Heading East along Base Line Street.
• Desirable Site Accessibility Resulting from Four (4) Curb Cuts on Base Line Street, Two (2) Curb Cuts on Arrowhead Avenue, One (1) Curb Cut on D Street and Exclusive Loading Area from 13th Street.
• Close Proximity to 322 Affordable Housing Units Recently Developed by Institutional Developer (National CORE).
• CG-1 Zoning Permits the Construction of 266 or More Units for Senior Citizen and Senior Congregate Care Housing.
Location Advantages – Limited Competition:
• Positioned Within the City and County of San Bernardino, the Shopping Center Serves as an Essential Neighborhood Hub.
• The Property’s Strategic Location at the Bustling Intersection of North Base Line Street and North Arrowhead Avenue Yields High Traffic, With over 38,000 Cars Per Day.
City and Growth Factors:
• The City of San Bernardino Stands as a Beacon of Steady Population and Job Growth.
• Over the Past Three Years, the Addition of 316,000 Jobs is Attributed to the City’s Emphasis on Education, Retail, and Distribution Sectors.
• The Property Enjoys Close Proximity, a Mere Three Miles, to the San Bernardino International Airport (SBD), which Boasts Remarkable Cargo Capabilities. Notably, a $200 Million Redevelopment Project has been Approved, Solidifying the Airport’s Status as a Robust Air Cargo Distribution Center, With Giants like Amazon as Stakeholders.
Market Drivers & Demographics:
• Strategic Placement Between Two Significant College Campuses Enhances the Property’s Appeal: Located 4.5 Miles South of California State University San Bernardino (CSUSB) and 2.5 Miles North of San Bernardino Valley College.
• A Densely Populated Area Within a Three Mile Radius Encompasses Around 156,000 Individuals, With an Average Household Income of $55,358. Moreover, the Average Household Retail Expenditure Reaches $99,340, Reflecting Strong Consumer Purchasing Power.
• Recently the City of San Bernardino Agreed to Update their Housing Plan to Meet their State-Mandated Goals, which Include 8,123 Additional Housing Units by 2029.
• The Subject Property is Surrounded by Eight Major Elementary and High Schools With a Total of 5,160 Students and 630 Faculty in a 1.5 Mile Radius.