Greenwood Plaza Shopping
For Sale
$7,720,000
1200-1228 S Greenwood Ave, Montebello, CA 90640
Neighborhood retail center with renovated building systems, a signalized corner position, and access to Interstate 5.
Property Size26,303 SF
Price / SF$293.50
Days on Market56
Property Features for 1200-1228 S Greenwood Ave
General Information
Standard status
Active
Size
26,303 SF
Property subtype
Shopping Neighborhood
Site & Location
Corner Location
Yes
Traffic Count
22,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Amenities
Strong Daily-Needs Tenant Mix – Diverse lineup of neighborhood-serving tenants generates consistent customer traffic and provides stable, diversified income.
Prime Infill Southeast Los Angeles Location – Strategically located in Montebello adjacent to the City of Commerce, serving a dense residential population and substantial daytime workforce.
High-Visibility Signalized Corner Location – Approximately 362 feet of frontage along S. Greenwood Avenue with excellent visibility, multiple signage opportunities, and convenient ingress and egress.
Attractive Value-Add Opportunity with Path to a 7.64% ProForma Cap Rate – Investors can enhance cash flow and drive returns through the continued lease-up of vacant space and completion of strategic capital improvements.
Strong Traffic Counts & Regional Accessibility – Positioned along a major commercial corridor with over 22,000 vehicles per day and immediate access to Interstate 5.
Recent Capital Improvements – Ownership has completed significant upgrades, including roof, HVAC, exterior paint, and landscaping improvements, reducing near-term capital requirements.
Ample Parking & Customer Convenience – On-site parking spaces support tenant operations and provide convenient customer access.
Exceptional Demographics & Consumer Spending – The property serves a population of more than 612,000 residents within a 5-mile radius, supported by an average household reported income of $96,154 and annual household retail expenditures exceeding $80,000, driving long-term tenant demand and investment stability.
Building Details
Building Size
26,303 SF
Year Built
1984
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Orbell Ovaness · License #License(s): CA: 01402142
(213) 943-1822
Source:
Marcusmillichap
Added: Aug 23
Changed: Oct 1
Last Checked: Oct 16 at 5:38AM
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 Marcus & Millichap - Los Angeles
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Greenwood Plaza is a 26,303-square-foot neighborhood shopping center built in 1984 at 1200-1228 S Greenwood Ave in Montebello, California. The property includes retail and service-oriented tenant space, with improvements to the roof, HVAC systems, exterior paint, and landscaping. On-site parking serves the center’s tenants and customers.
The property occupies a signalized corner along South Greenwood Avenue with approximately 362 feet of frontage. Traffic counts exceed 22,000 vehicles per day, and Interstate 5 provides regional access. The center is adjacent to the City of Commerce and positioned along a commercial corridor in Southeast Los Angeles.
More than 612,000 residents live within a five-mile radius. Average household incomes in that area exceed $96,000, while annual household retail expenditures exceed $80,000.
The property occupies a signalized corner along South Greenwood Avenue with approximately 362 feet of frontage. Traffic counts exceed 22,000 vehicles per day, and Interstate 5 provides regional access. The center is adjacent to the City of Commerce and positioned along a commercial corridor in Southeast Los Angeles.
More than 612,000 residents live within a five-mile radius. Average household incomes in that area exceed $96,000, while annual household retail expenditures exceed $80,000.
Key Highlights
- 26,303‑square‑foot shopping center built in 1984
- Approximately 362 feet of frontage along South Greenwood Avenue
- Signalized corner location with traffic counts exceeding 22,000 vehicles per day
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$581,943
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,638,860
$11.6M
Cap Rate 7%
$8,313,471
$8.3M
Cap Rate 9%
$6,466,033
$6.5M
Market Conditions
NOI Build-Up for 26,303 SF
Gross rent
$890.1K $33.84/SF
− Vacancy
−$58.7K −$2.23/SF
EGI
$831.3K $31.61/SF
− OpEx
−$249.4K −$9.48/SF
NOI
$581.9K $22.12/SF
Area
Los Angeles County, CA
Vacancy
6.60%
Lease Rate
$33.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,638,860
Cap Rate 7%
$8,313,471
Cap Rate 9%
$6,466,033
Alternative Uses
Best Use
Retail
$8.31M
$7.27M – $9.70M
NOI $581,943 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.08M
$12.32M – $16.43M
NOI $985,777 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
22,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
828
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90640, CA
62,678
Population
20,438
Households
3.1
Avg Household Size
38
Median Age
22%
College-Educated
74%
High-School Grad
8.3 sq mi
ZIP Area
7,552
Density / Sq Mi
$74,833
Median Household Income
$37,983
Median Earnings
$1,771
Median Rent
$660,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Shopping center - Neighborhood retail center with renovated building systems, a signalized corner position, and access to Interstate 5.
Where is this shopping center located?
The property is located at 1200-1228 S Greenwood Ave Montebello, CA.
What is the asking price?
The asking price for this property is $7,720,000.
What are key features of this property?
This property features: 26,303‑square‑foot shopping center built in 1984; Approximately 362 feet of frontage along South Greenwood Avenue; Signalized corner location with traffic counts exceeding 22,000 vehicles per day
