Multi-Tenant Office Building with
For Sale
$3,500,000
205 S Chapel Avenue, Alhambra, CA 91801
SINGLE_FAMILY - Alhambra, CA
Property Size7,894 SF
Lot Size0.36 Acres
Price / SF$443.37
Days on Market112
Property Features for 205 S Chapel Avenue
General Information
Property type
Residential
Property subtype
Office
Directions
Corner of E Bay State Street and S Chapel Ave
Subdivision
601 - Alhambra
Standard status
Active
APN
5345006089
Lot size
0.36 Acres
Building Details
Year built
1990
Listing Agency:
High Ten Partners, Inc. · Coldwell Banker Real Estate
(626) 289-6660
Listed By:
Shumei Kam · License #00798181
(626) 202-6446
Added: Apr 24
Changed: Jul 6
Last Checked: Aug 13 at 3:06AM
MLS# AR26089529
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Well-maintained, two-story multi-tenant office building built in 1990, offering 36 individual office suites. The property is situated on a corner lot and includes 24 on-site surface parking spaces plus 8 additional spaces located in a structure across the street.
Located at 205 S Chapel Avenue in Alhambra, the building is near Valley Blvd, Atlantic Blvd, and the 10 Freeway, providing convenient access to Downtown Alhambra’s retail, dining, and transit amenities.
With its suite-based layout and existing tenancy, the building is designed to accommodate a range of professional and administrative uses.
Located at 205 S Chapel Avenue in Alhambra, the building is near Valley Blvd, Atlantic Blvd, and the 10 Freeway, providing convenient access to Downtown Alhambra’s retail, dining, and transit amenities.
With its suite-based layout and existing tenancy, the building is designed to accommodate a range of professional and administrative uses.
Key Highlights
- 1990‑built, 2‑story multi‑tenant office building with 7,894 SF on a 0.36‑acre corner lot
- 36 individual office suites suitable for professional, medical, legal, and administrative tenants
- 24 on‑site surface parking spaces plus 8 additional spaces in the structure directly across the street
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
$172,557
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
4.93%
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%
$3,451,140
$3.5M
Cap Rate 7%
$2,465,100
$2.5M
Cap Rate 9%
$1,917,300
$1.9M
Market Conditions
NOI Build-Up for 7,894 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
$303.1K $38.40/SF
− Vacancy
−$73.1K −$9.25/SF
EGI
$230.1K $29.15/SF
− OpEx
−$57.5K −$7.29/SF
NOI
$172.6K $21.86/SF
Area
Los Angeles County, CA
Vacancy
24.10%
Lease Rate
$38.40 /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%
$3,451,140
Cap Rate 7%
$2,465,100
Cap Rate 9%
$1,917,300
Alternative Uses
Best Use
Office B
$2.47M
$2.16M – $2.88M
NOI $172,557 @ 7.0% cap · market cap 4.93%
Second Best
Healthcare Medical
$2.14M
$1.87M – $2.50M
NOI $149,701 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$4.23M
$3.70M – $4.93M
NOI $295,849 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
36
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,131
Businesses Nearby
Explore this area
Business Placement
Demographics for 91801, CA
53,669
Population
21,702
Households
2.5
Avg Household Size
41
Median Age
41%
College-Educated
85%
High-School Grad
4.3 sq mi
ZIP Area
12,481
Density / Sq Mi
$85,549
Median Household Income
$47,855
Median Earnings
$1,879
Median Rent
$797,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story, multi-tenant office building with 36 suites and 24 on-site parking spaces.
Where is this office building located?
The property is located at 205 S Chapel Avenue Alhambra, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 1990‑built, 2‑story multi‑tenant office building with 7,894 SF on a 0.36‑acre corner lot; 36 individual office suites suitable for professional, medical, legal, and administrative tenants; 24 on‑site surface parking spaces plus 8 additional spaces in the structure directly across the street
