Description

Magnolia Centre is a Class B, two-story office asset totaling 36,870 square feet in the heart of the Upland/Montclair submarket. Built in 1987 and modernized in 2018, the property features flexible floorplates well suited for co-working, creative, executive, medical office or R&D users. With occupancy at 96% and just 1,564 square feet of availability, Magnolia Centre offers a stable income stream in a recently updated building that continues to attract a diverse tenant base.

Offered at $8,880,000 ($241 per square foot), this investment delivers an in-place capitalization rate of 5.95% on a trailing-12-month NOI of $528,023 and annual in-place rents of $837,831. A gross rent multiplier of 10.35 and a projected cash-on-cash return of approximately 5.95% underscore the strong performance of this asset, while the minimal vacancy presents an immediate value-add opportunity through lease-up of the remaining space.

Strategically positioned on a 2.16-acre parcel at 299 West Foothill Boulevard, Magnolia Centre boasts excellent visibility and frontage along a primary east–west corridor. The property is enhanced by a 4.6-stall per 1,000-square-foot parking ratio (170 stalls total) and Commercial/Residential Mixed-Use (C/R-MU) zoning that supports future densification or redevelopment. Just minutes from the 210 Freeway and surrounded by a dynamic retail and service environment, this offering presents a rare opportunity to acquire a well-appointed office asset with compelling upside in Southern California’s growing Inland Empire.