Office/Retail Suite in
For Sale
$390,000
300 S Garfield Avenue, Monterey Park, CA 91754
Commercial Sale, Monterey Park, CA
Property Size856 SF
Price / SF$455.61
Days on Market88
Property Features for 300 S Garfield Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
MPC3*
Directions
Conveniently located at the corner of Garfield Ave and Newmark Ave in the heart of Monterey Park, near the 10 Freeway.
Subdivision
641 - Monterey Park
Standard status
Active
APN
5257016049
Building Details
Year built
1984
Listing Agency:
High Ten Partners, Inc. · Coldwell Banker Real Estate
(626) 289-6660
Listed By:
Shumei Kam · License #00798181
(626) 202-6446
Added: May 29
Changed: Aug 20
Last Checked: Aug 24 at 10:06PM
MLS# AR26116933
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This approximately 856-square-foot office/retail suite is located within a well-established multi-tenant commercial building and was previously operated as a spa. The layout includes a welcoming reception or open service area, multiple private rooms, and utility or storage areas, along with laundry hookups. Large front windows add natural light and street-facing presence, while the interior configuration is designed to support both client-facing space and day-to-day operations.
The property is offered for sale in Monterey Park, California on S Garfield Avenue, with convenient access and visibility in an active commercial corridor. The suite is positioned near major thoroughfares and nearby retail, restaurants, and professional services, supporting a range of office, medical, wellness, beauty, and service-oriented uses consistent with the existing layout.
Zoning is listed as MPC3*, and the suite is presented as a flexible space for an owner-user or investor seeking a centrally located commercial unit in a multi-tenant setting.
The property is offered for sale in Monterey Park, California on S Garfield Avenue, with convenient access and visibility in an active commercial corridor. The suite is positioned near major thoroughfares and nearby retail, restaurants, and professional services, supporting a range of office, medical, wellness, beauty, and service-oriented uses consistent with the existing layout.
Zoning is listed as MPC3*, and the suite is presented as a flexible space for an owner-user or investor seeking a centrally located commercial unit in a multi-tenant setting.
Key Highlights
- Approx. 856 SF commercial office/retail suite in a multi‑tenant building
- Year built: 1984
- Previously operated as a spa with a reception/open service area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,711
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$374,220
$374.2K
Cap Rate 7%
$267,300
$267.3K
Cap Rate 9%
$207,900
$207.9K
Market Conditions
NOI Build-Up for 856 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.9K $38.40/SF
− Vacancy
−$7.9K −$9.25/SF
EGI
$24.9K $29.15/SF
− OpEx
−$6.2K −$7.29/SF
NOI
$18.7K $21.86/SF
Area
Los Angeles County, CA
Vacancy
24.10%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$374,220
Cap Rate 7%
$267,300
Cap Rate 9%
$207,900
Alternative Uses
Best Use
Office B
$267.3K
$233.9K – $311.9K
NOI $18,711 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$458.3K
$401.0K – $534.7K
NOI $32,081 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,786
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 91754, CA
33,300
Population
12,754
Households
2.6
Avg Household Size
44
Median Age
38%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
7,400
Density / Sq Mi
$81,890
Median Household Income
$46,992
Median Earnings
$1,884
Median Rent
$845,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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- Wes L. Lai, Lac — 300 S Atlantic Blvd, Monterey Park, CA 91754
- Bai Xao Herb Acupuncture Center — 240 S Garfield Ave, Monterey Park, CA 91754
- 高百笑诊所 — 240 s garfield ave # b, monterey park, ca 91754
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Versatile office/retail suite with reception area, private rooms, and laundry hookups within a multi-tenant building.
Where is this spa & wellness property located?
The property is located at 300 S Garfield Avenue Monterey Park, CA.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Approx. 856 SF commercial office/retail suite in a multi‑tenant building; Year built: 1984; Previously operated as a spa with a reception/open service area
