Modern Retail Building, Excellent Visibility, High Traffic
Property size:
4,180 SF
Description
Added:
Feb 3, 2025
Days on Market:
314
This exceptional 4,180 square foot free-standing retail building in Monrovia, CA, presents a unique opportunity for a discerning business. Boasting a state-of-the-art design and layout, the property features high ceilings and a grand lobby/reception area complete with a large built-in counter. Two well-appointed conference rooms, one enhanced by a skylight, provide ample space for meetings and presentations. Two private executive suites offer secluded workspaces, while a comfortable lounge and kitchen area cater to employee needs. Convenient storage rooms are located at the rear of the building. The property benefits from prominent building signage opportunities on both the front and side, ensuring high visibility. This 2,680 square foot unit is offered at a modified gross lease rate of $2.68 per square foot. The building enjoys excellent street frontage on Myrtle Avenue, with both front and rear entrances, and a dedicated parking lot at the rear. Abundant street parking and nearby public parking options further enhance convenience. Situated in the desirable Old Town Monrovia, this property enjoys a prime location adjacent to Bank of America, across from Citibank, and a shopping center anchored by Vons Pavilions and Chase Bank. This high-traffic area ensures significant pedestrian exposure. The surrounding presence of national tenants and easy freeway access add to the property's appeal. A variety of nearby amenities, including restaurants, coffee shops, banks, and shops, are within walking distance. Ideal for a range of businesses, including professional offices, financial/real estate services, retail establishments, art galleries, florists, social clubs, and coffee shops, this move-in ready property offers an unparalleled combination of location, design, and functionality. The 0.17-acre lot provides ample space for operations and potential future expansion.
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220 Ave Monrovia, CA 91016
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Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods.
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These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
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AI approach
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Cap approach
Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
Relative
Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
Geo
Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
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220 Ave Monrovia, CA 91016
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220 Ave, Monrovia, CA
Jeannette Zhang
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