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 Market9
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
(213) 943-1822
Listed By:
Orbell Ovaness · License #License(s): CA: 01402142
(213) 943-1822
Source:
Marcusmillichap
Added: Aug 23
Changed: Aug 30
Last Checked: Aug 30 at 7:22PM
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
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 = 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
$581,943
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
7.54%
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%
$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
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
$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 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%
$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.
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
Questions? Ask Rey
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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
