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    Versatile Office & Retail Building Title is generated by Realmo AI

    1051 N Citrus Avenue, Covina, CA 91722

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    Claim this Listing
    For Sale
    Under Contract
    $1,485,000

    Commercial Sale - Covina, CA

    Property size:
    4,814 SF
    Price / SF:
    $308/SF
    Added:
    Oct 7, 2025
    Days on Market:
    217
    Last Refresh:
    May 11 at 1:06 pm

    Property Features for 1051 N Citrus Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    8421026024
    Size
    4,814 SF

    Utilities

    Cooling system
    Central Air, Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1972
    Architectural style
    Other

    We can help!

    Listing Contact
    Eric Eide
    Eric Eide

    Listing agent Eric Eide License #01207980

    Listing office RE/MAX MASTERS REALTY 14760 PIPELINE AVE., Covina, CA

    Listing date Oct 7, 2025

    MLS# CV25234827 Listing URL

    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.

    HighLights

    • High‑traffic location with excellent visibility and accessibility via major highways and public transportation.
    • Multi‑tenant rental income from both office and retail spaces, providing a diversified income stream.
    • Flexible office layouts with high ceilings, large windows, and abundant natural light.
    • On‑site parking with 20 spaces for retail customers and office tenants.
    • Strong demand for retail and office properties in the area, indicating potential for long‑term capital appreciation.
    • Versatile building suitable for both retail and office use.

    Overview

    Located in a high-traffic area, this versatile office and retail building offers an investment opportunity. The building spans multiple levels, providing ample space for both retail and office use. The upper floors include modern office spaces with flexible layouts, suitable for single or multi-tenant use. Each office features high ceilings, large windows, and abundant natural light. On-site parking is available with 20 spaces, including dedicated spots for both retail customers and office tenants. Situated in a bustling area with high visibility, the building is easily accessible via major highways and public transportation. The surrounding area has high foot traffic and a mix of residential, commercial, and leisure destinations. The property offers multi-tenant rental income from both office and retail spaces. The property is located in Covina, California, and the building size is 4814 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tres Novu Hair ... Hair Salon FemDocs, LLC Law Firm Stunning by Ivy Nail Salon SoCal Sportscars Auto Repair Shop UltiPrints Production Facility

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Covina
    County
    Los Angeles
    State
    California
    Longitude
    -117.8906484
    Latitude
    34.0985584

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    FAQs

    What type of property is this?
    Office building - High-traffic Covina building with office and retail spaces for sale.
    Where is this office building located?
    The property is located at 1051 N Citrus Avenue Covina, CA.
    What is the asking price?
    The asking price for this property is $1,485,000.
    What are key features of this property?
    This property features: High‑traffic location with excellent visibility and accessibility via major highways and public transportation.; Multi‑tenant rental income from both office and retail spaces, providing a diversified income stream.; Flexible office layouts with high ceilings, large windows, and abundant natural light.
    (714) 785-2557
    We can help!
    Listing Contact
    Eric Eide
    Eric Eide
    Real Estate License ID: 01207980
    Learn More
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    Realmo Value Estimations

    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. 

    Disclaimer

    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.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    1051 N Citrus Avenue, Covina, CA 91722
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