Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Renovated Office Building For Sale Title is generated by Realmo AI

    1161 Park View Dr, Covina, CA 91724

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Newly renovated office building with freeway access and ample parking.

    Type:Office
    Property size:
    14,112 SF
    Price / SF:
    $354/SF
    Added:
    Mar 27, 2023
    Days on Market:
    1167
    Last Refresh:
    May 12 at 11:55 pm

    Property Features for 1161 Park View Dr

    General Information

    Standard status
    Active
    Size
    14,112 SF
    Property subtype
    Office

    Building Details

    Year Built
    1983

    We can help!

    Listing Contact
    Steven Saunders

    Listing agent Steven Saunders License #CA 01932948

    Listing office CBRE - Ontario

    Listing date Mar 27, 2023

    Source Crexi

    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 CBRE - Ontario

    HighLights

    • Newly renovated 14,112 SF office building.
    • Excellent freeway access and visibility off Interstate 10.
    • Ample surface parking (4/1000).
    • Located in the Village Oaks Office Park.
    • First floor suites fully leased to Paragon Security and Zak Dental.
    • Easy access to local retail and restaurants.

    Overview

    This is a 2-story, 14,112 square foot newly renovated office building located in the Village Oaks Office Park, directly off the Interstate 10 Freeway. The first floor suites are contiguous to approximately 5,009 square feet and are fully leased to Paragon Security and Zak Dental. The second floor suite is contiguous to approximately 7,333 square feet. Ample surface parking is available at a ratio of 4 spaces per 1,000 square feet. The location offers excellent freeway access, visibility, and easy access to local retail and restaurants.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $541.9k $38.40
    − Vacancy −$130.6k −$9.25
    EGI $411.3k $29.15
    − OpEx −$102.8k −$7.29
    NOI $308.5k $21.86
    14,112 SF · lease $38.40/SF/yr · vacancy 24.10% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $4.41M
    $3.86M – $5.14M (±1% cap)
    NOI $308,477 @ 7.0% cap · market cap 6.17%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $7.56M
    $6.61M – $8.81M (±1% cap)
    NOI $528,886 @ 7.0% cap · market cap 10.58%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Michael Paz Mortgage Loan Service sampe seattle 2014 Conference Center Butler Enterprises Tax Preparation

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Covina
    County
    Los Angeles
    State
    California
    Longitude
    -117.8601734
    Latitude
    34.0688362

    Nearby Similar for Sale

    • $3,200,000
      15,112 SF

      Covina Commercial Building For Sale

      Large building on busy street near freeways and amenities.
      945 N Azusa Ave, Covina, CA 91722
      View Details
    • $3,995,000
      13,000 SF

      Covina Multifamily Investment Opportunity

      Fully occupied Covina apartments with upgraded units and rental upside.
      254 W Dexter, Covina, CA 91723
      View Details
    • $7,280,000
      22,820 SF

      Covina Multifamily Investment Opportunity

      24-unit apartment community in Covina, California.
      826 N Barranca, Covina, CA 91723
      View Details
    • $899,000
      2,967 SF

      Remodeled Freestanding Building on San Bernardino

      2,967 SF remodeled building suitable for retail, office, or restaurant.
      578 E San Bernardino Rd, Covina, CA 91722
      View Details
    • $2,100,000
      3,565 SF

      Covina Retail Center For Sale

      Multi-tenant retail center in Covina with high visibility.
      1319 N Grand Avenue, Covina, CA 91724
      View Details
    • $1,485,000
      4,814 SF

      Versatile Office & Retail Building

      High-traffic Covina building with office and retail spaces for sale.
      1051 N Citrus Avenue, Covina, CA 91722
      View Details
    • $1,099,000
      3,072 SF

      Covina Quadruplex Investment Opportunity

      Well-kept Covina quadruplex with income potential in a strong rental market.
      206 N Grandview, Covina, CA 91723
      View Details
    • $3,200,000

      Furniture Store with Large Parking

      Large retail building with high visibility and ample parking.
      945 N Azusa Ave, Covina, CA 91722
      View Details
    • $1,500,000
      3,190 SF

      Medical Office Building Near Hospital

      Medical office building with ample parking near Covina Hospital.
      210 W College, Covina, CA 91723
      View Details
    • $5,150,000
      13,268 SF

      Covina Garden Apartment Buildings

      Multi-residential buildings in excellent Covina community near downtown.
      445 W Front Street, Covina, CA 91723
      View Details
    • $2
      6,295 SF

      Freestanding Office Building For Sale

      6,295 SF office building with secured parking.
      845 S Oak Park Rd, Covina, CA 91724
      View Details
    • $1,150,000
      3,000 SF

      Covina Multifamily Investment Opportunity

      Four units with upside potential in Covina.
      206 N Grandview, Covina, CA 91723
      View Details

    FAQs

    What type of property is this?
    Office building - Newly renovated office building with freeway access and ample parking.
    Where is this office building located?
    The property is located at 1161 Park View Dr Covina, CA.
    What is the asking price?
    The asking price for this property is $4,999,999.
    What are key features of this property?
    This property features: Newly renovated 14,112 SF office building.; Excellent freeway access and visibility off Interstate 10.; Ample surface parking (4/1000).
    (310) 550-2588 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Steven Saunders
    Real Estate License ID: CA 01932948
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1161 Park View Dr, Covina, CA 91724
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!