501 S Myrtle Ave Monrovia, CA 91016

Located in Old Town Monrovia, this two-story mixed-use building at 501-503 S. Myrtle Avenue and 50-100 W. Lemon Avenue features retail and office spaces. The building has 17,691 total square feet, with 6,174 square feet on the first floor, 5,548 square feet on the second floor, and 5,969 square feet in the basement level. The basement is currently rented as executive offices and storage areas. The first floor contains two retail spaces. The property includes fire sprinklers, six common area restrooms, three private restrooms, two kitchens, and two janitor closets. Zoned HCD- Historic Commercial Downtown, the building is situated at the signalized intersection of Myrtle and Lemon. The surrounding area features high-density residential properties, including The Colorado Commons with seventy-two units and a parking structure with over 180 spaces available for public use. The Santa Anita Race Track and Westfield Mall are located approximately 3 miles away, and the Monrovia Gold-Line station is about 1 mile south of the property. Access to the 210 and 605 freeways is available via Myrtle Avenue. There are currently 39 tenants. Recent upgrades include newer flooring and storefront improvements. Many office suites are leased month-to-month with below-market rents, presenting an opportunity for investors to increase rental income. The property also offers an opportunity for an office owner/user to occupy first or second-floor office space. The location is a heavily pedestrian-oriented shopping destination with retail, restaurants, office, and mixed-use properties.