501 S Myrtle Ave Monrovia, CA 91016

Located in the heart of Old Town Monrovia, this two-story mixed-use building at 501-503 S. Myrtle Avenue and 50-100 W. Lemon Avenue presents a rare investment opportunity. The 17,691 square-foot building includes retail and office spaces on the first floor, executive offices on the second floor, and a usable basement level currently rented as executive offices and storage areas. The first floor contains two retail spaces. The property features fire sprinklers, six common area restrooms, three private restrooms, two kitchens, and two janitor closets. Situated on the signalized intersection of Myrtle and Lemon, the property benefits from high pedestrian traffic in a shopping destination consisting of retail, restaurants, office, and mixed-use properties. The surrounding area includes high-density residential developments, such as The Colorado Commons with seventy-two units, and a parking structure with over 180 public parking spaces. The Monrovia Gold-line station is approximately 1 mile south, and the 210 and 605 freeways are easily accessible via Myrtle Avenue. The property is zoned HCD- Historic Commercial Downtown. There are currently 39 tenants. Recent upgrades include newer flooring and storefront improvements. The Santa Anita Race Track and Westfield Mall are located 3 miles from this property. The building offers an opportunity for an office owner/user to occupy first or second floor office space. Many of the office suites are leased month-to-month with below market rents, presenting an opportunity for an investor to realize an upside in current market rents.