Medical/Office Condo Near Garfield Center

223 N Garfield Ave Ste 205 Monterey Park, CA 91754

Claim this Listing
For Sale
$499,000

Corner medical/office condo in medical corridor near Garfield Medical Center.

Property size:
1,479 SF
Lot size:
0.65 Acres
Price / SF:
$337/SF
Added:
May 31, 2024
Days on Market:
772
Last Refresh:
Jun 22 at 9:12 pm

Property Features for 223 N Garfield Ave Ste 205

General Information

Standard status
Active
Size
1,479 SF
Lot size
0.65 Acres

Listing office G E PROPERTY DEVELOPMENT

Listing date May 31, 2024

Source Exprealty

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 G E PROPERTY DEVELOPMENT


Investment Insights

Based on property information with market context.

This corner medical/office condominium is located in the medical corridor near Garfield Medical Center. The 1,479-square-foot space is fully built out as an OBGYN medical office. It features five exam rooms, each equipped with a sink. Four of the exam rooms measure 9 feet by 10 feet, while one measures 9 feet by 13.5 feet. The layout also includes one doctor's office, one lab room, a 15-foot by 14-foot waiting room, a bathroom, and a kitchen break room. This property is suitable for medical or office use.

Key Highlights

  • Prime location in medical corridor near Garfield Medical Center.
  • Fully built‑out OBGYN medical office, ready for immediate use.
  • Spacious 1,479 SQFT corner condo unit.

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 $56.8k $38.40
− Vacancy −$13.7k −$9.25
EGI $43.1k $29.15
− OpEx −$10.8k −$7.29
NOI $32.3k $21.86
1,479 SF · lease $38.40/SF/yr · vacancy 24.10% · expense 25.00%

Alternative Uses

Best Use
Office B
$461.9K
$404.1K – $538.8K (±1% cap)
NOI $32,330 @ 7.0% cap · market cap 6.48%
Second Best
Healthcare Medical
$400.7K
$350.6K – $467.5K (±1% cap)
NOI $28,048 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$791.9K
$692.9K – $923.8K (±1% cap)
NOI $55,430 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

You Safety Insurance Insurance Agency Ong Susan MD Physician United Medical Imaging Physician Health Care Pharmacy Physician AP Law Offices Law Firm

Suggested Use

Parking Lot & Garage (Bike/Boat/Book/etc) Store Gym & Fitness Center (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Storage Facility (Bike/Boat/Book/etc) Store Barber Shop Tattoo & Piercing Shop Veterinary Clinic

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

Similar Off Market Nearby

  • Atlantic Animal Hospital — 500 S Atlantic Blvd, Monterey Park, CA 91754

FAQs

What type of property is this?
Medical Office Space - Corner medical/office condo in medical corridor near Garfield Medical Center.
Where is this medical office space located?
The property is located at 223 N Garfield Ave Ste 205 Monterey Park, CA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Prime location in medical corridor near Garfield Medical Center.; Fully built‑out OBGYN medical office, ready for immediate use.; Spacious 1,479 SQFT corner condo unit.
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