Medical Office Building with
For Sale
$4,888,888
1048 S Garfield, Alhambra, CA 91801
Well-maintained medical office building with 8 suites, 20 restrooms, and 37 parking spaces including ADA access.
Property Size17,933 SF
Price / SF$444.44
Days on Market289
Property Features for 1048 S Garfield
General Information
Standard status
Active
Size
17,933 SF
Total Parking Spaces
37
Property subtype
Office
Additional Details
Office Units
8
Building Details
Building Size
17,933 SF
Year Built
1987
Tenancy
Multi
Listing Agency:
RE/MAX Dynasty
(562) 945-2221
Listed By:
Yolanda Rubio · License #01974232
Source:
Velocityrealtysd
Added: Nov 7, 2025
Changed: Aug 23
Last Checked: Aug 22 at 9:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Dynasty
Investment Insights
Based on property information with market context.
This 11,000-square-foot medical office building in Alhambra features 8 suites and 20 restrooms. The property is described as well-maintained and currently utilized as medical offices by a long-time owner-user.
On-site parking totals 37 spaces, including 2 ADA-accessible spots. There is also a 5-car VIP garage designed for additional tenant and visitor convenience. The building is located at 1048 S. Garfield Avenue and is described as having easy access to major thoroughfares, supporting convenient day-to-day visits.
The overall configuration is purpose-built for multi-suite medical use, offering defined suite spaces within a maintained office building environment.
On-site parking totals 37 spaces, including 2 ADA-accessible spots. There is also a 5-car VIP garage designed for additional tenant and visitor convenience. The building is located at 1048 S. Garfield Avenue and is described as having easy access to major thoroughfares, supporting convenient day-to-day visits.
The overall configuration is purpose-built for multi-suite medical use, offering defined suite spaces within a maintained office building environment.
Key Highlights
- 11,000 SF medical office building at 1048 S. Garfield Ave, Alhambra, CA
- 8 suites currently utilized as medical offices
- 20 restrooms serving the office suites
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
$240,451
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
4.92%
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%
$4,809,020
$4.8M
Cap Rate 7%
$3,435,014
$3.4M
Cap Rate 9%
$2,671,678
$2.7M
Market Conditions
NOI Build-Up for 11,000 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
$422.4K $38.40/SF
− Vacancy
−$101.8K −$9.25/SF
EGI
$320.6K $29.15/SF
− OpEx
−$80.2K −$7.29/SF
NOI
$240.5K $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%
$4,809,020
Cap Rate 7%
$3,435,014
Cap Rate 9%
$2,671,678
Alternative Uses
Best Use
Office B
$3.44M
$3.01M – $4.01M
NOI $240,451 @ 7.0% cap · market cap 4.92%
Second Best
Healthcare Medical
$2.98M
$2.61M – $3.48M
NOI $208,603 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$5.89M
$5.15M – $6.87M
NOI $412,255 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,591
Businesses Nearby
Explore this area
Business Placement
Demographics for 91801, CA
53,669
Population
21,702
Households
2.5
Avg Household Size
41
Median Age
41%
College-Educated
85%
High-School Grad
4.3 sq mi
ZIP Area
12,481
Density / Sq Mi
$85,549
Median Household Income
$47,855
Median Earnings
$1,879
Median Rent
$797,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained medical office building with 8 suites, 20 restrooms, and 37 parking spaces including ADA access.
Where is this office units located?
The property is located at 1048 S Garfield Alhambra, CA.
What is the asking price?
The asking price for this property is $4,888,888.
What are key features of this property?
This property features: 11,000 SF medical office building at 1048 S. Garfield Ave, Alhambra, CA; 8 suites currently utilized as medical offices; 20 restrooms serving the office suites
