Corner Office Condo in
For Sale
$625,000
1111 Corporate Center Dr 306, Monterey Park, CA 91754
Well-maintained 1,716 SF office condo with abundant natural light.
Property Size1,716 SF
Price / SF$364.22
Days on Market191
Property Features for 1111 Corporate Center Dr 306
General Information
Standard status
Active
Size
1,716 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1992
Listing Agency:
Mark III Properties
(626) 475-0921
Listed By:
GARY KARASAWA · License #00572414
(626) 475-0921
Source:
Exitrealty
Added: Feb 14
Changed: Aug 23
Last Checked: Aug 24 at 3:26AM
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 Mark III Properties
Investment Insights
Based on property information with market context.
This well-maintained 1,716 square foot third-floor corner office condo features excellent natural light and multiple window exposures. The unit offers a functional layout with multiple private offices, an open workspace, and interior glass partitions, allowing for flexible use and visibility between rooms. Large windows provide pleasant views and abundant daylight, creating a bright and professional work environment. Vinyl flooring runs throughout, and the space includes a convenient in-suite utility sink. Located in a well-maintained office complex in Monterey Park, the property provides ample on-site parking and easy access to major freeways, including the 10, 60, and 710. The location has a walk score of 62, indicating it is somewhat walkable, a transit score of 50, indicating good transit options, and a bike score of 24, indicating it is somewhat bikeable. This office condo is ideal for owner-users or investors seeking a versatile office space in a central San Gabriel Valley location.
Key Highlights
- Well‑maintained 1,716 sf corner office condo with excellent natural light.
- Functional layout with multiple private offices and open workspace.
- Convenient in‑suite utility sink.
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
$37,510
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
6.00%
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%
$750,200
$750.2K
Cap Rate 7%
$535,857
$535.9K
Cap Rate 9%
$416,778
$416.8K
Market Conditions
NOI Build-Up for 1,716 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
$65.9K $38.40/SF
− Vacancy
−$15.9K −$9.25/SF
EGI
$50.0K $29.15/SF
− OpEx
−$12.5K −$7.29/SF
NOI
$37.5K $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%
$750,200
Cap Rate 7%
$535,857
Cap Rate 9%
$416,778
Alternative Uses
Best Use
Office B
$535.9K
$468.9K – $625.2K
NOI $37,510 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$918.7K
$803.9K – $1.07M
NOI $64,312 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
754
Businesses Nearby
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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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained 1,716 SF office condo with abundant natural light.
Where is this office units located?
The property is located at 1111 Corporate Center Dr 306 Monterey Park, CA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Well‑maintained 1,716 sf corner office condo with excellent natural light.; Functional layout with multiple private offices and open workspace.; Convenient in‑suite utility sink.
