Medical Office Building Near
For Sale
$6,957,000
1500 W West Covina Pkwy, West Covina, CA 91790
Standalone medical office near Interstate 10 and Emanate Health Hospital.
Property Size25,836 SF
Days on Market165
Property Features for 1500 W West Covina Pkwy
General Information
Standard status
Active
Size
25,836 SF
Class
A
Property subtype
Office
Building Details
Building Size
25,836 SF
Year Built
1963
Listing Agency:
Lee & Associates San Diego - Carlsbad
(760) 519-0240
Listed By:
Ryan Bennett · License #CalDRE #01826517
(760) 519-0240
Source:
Lee-associates
Added: Mar 4
Changed: Aug 15
Last Checked: Aug 15 at 5:28AM
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 Lee & Associates San Diego - Carlsbad
Investment Insights
Based on property information with market context.
This standalone medical office building is located along West Covina Parkway, just off Interstate 10 at Exit 34. It is situated in the dense West Covina infill submarket, offering immediate proximity to Emanate Health Queen of the Valley Hospital and regional retail nodes.
Key Highlights
- Standalone medical office building
- Located along West Covina Parkway, just off Interstate 10 Exit 34
- Immediate proximity to Emanate Health Queen of the Valley Hospital
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
$553,407
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
7.95%
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%
$11,068,140
$11.1M
Cap Rate 7%
$7,905,814
$7.9M
Cap Rate 9%
$6,148,967
$6.1M
Market Conditions
NOI Build-Up for 25,836 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
$868.1K $33.60/SF
− Vacancy
−$130.2K −$5.04/SF
EGI
$737.9K $28.56/SF
− OpEx
−$184.5K −$7.14/SF
NOI
$553.4K $21.42/SF
Area
West Covina, CA
Vacancy
15.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
25.00%
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%
$11,068,140
Cap Rate 7%
$7,905,814
Cap Rate 9%
$6,148,967
Alternative Uses
Best Use
Office B
$7.91M
$6.92M – $9.22M
NOI $553,407 @ 7.0% cap · market cap 7.95%
Second Best
Healthcare Medical
$5.98M
$5.23M – $6.98M
NOI $418,543 @ 7.0% cap · market cap 6.02%
Theoretical Best
Multifamily LT 5
$523.42M
$457.99M – $610.66M
NOI $36,639,529 @ 7.0% cap · market cap 526.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,026
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91790, CA
46,364
Population
13,318
Households
3.5
Avg Household Size
39
Median Age
23%
College-Educated
83%
High-School Grad
5.8 sq mi
ZIP Area
7,994
Density / Sq Mi
$100,142
Median Household Income
$42,958
Median Earnings
$2,253
Median Rent
$695,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Petco Vaccination Clinic — 1050 W Covina Pkwy, West Covina, CA 91790
- Vetco — 1050 W Covina Pkwy, West Covina, CA 91790
Frequently Asked Questions
What type of property is this?
Medical Office Space - Standalone medical office near Interstate 10 and Emanate Health Hospital.
Where is this medical office space located?
The property is located at 1500 W West Covina Pkwy West Covina, CA.
What is the asking price?
The asking price for this property is $6,957,000.
What are key features of this property?
This property features: Standalone medical office building; Located along West Covina Parkway, just off Interstate 10 Exit 34; Immediate proximity to Emanate Health Queen of the Valley Hospital
