Freestanding Multi-Unit Retail-Office
For Sale
$2,580,000
220 218-220 S Myrtle Avenue, Monrovia, CA 91016
Freestanding building with two separately metered units and dual front-and-back entrances, plus private rear parking.
Property Size4,180 SF
Price / SF$617.22
Days on Market202
Property Features for 220 218-220 S Myrtle Avenue
General Information
Standard status
Active
Size
4,180 SF
Amenities
Park
Central Air
Central, Natural Gas
Building Details
Building Size
4,180 SF
Year Built
1928
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
VasTree Real Estate
(626) 294-9900
Listed By:
Jeannette Zhang · License #01851681
(626) 294-9900
Source:
Evrealestate
Added: Feb 3
Changed: Aug 23
Last Checked: Aug 24 at 6:06AM
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 VasTree Real Estate
Investment Insights
Based on property information with market context.
This freestanding property contains two separate units totaling 4,180 square feet, each with its own front and back entrance and independently metered utilities. The building supports signage on both sides.
Unit 218 is leased to a franchise pet shop. Unit 220 is set up as an office space and includes high ceilings, marble flooring, a professional receptionist counter and entry area, a meeting room, a large conference room with skylight, a sizable sales floor, two private executive offices, a kitchen, storage room, and bathroom.
The building has private parking in the back and additional free city parking lots. The property is earthquake retrofitted and is positioned on highly trafficked Myrtle Avenue, next to Bank of America, across from Citibank, and near a high-traffic shopping plaza anchored by Vons Pavilions and Chase Bank.
Unit 218 is leased to a franchise pet shop. Unit 220 is set up as an office space and includes high ceilings, marble flooring, a professional receptionist counter and entry area, a meeting room, a large conference room with skylight, a sizable sales floor, two private executive offices, a kitchen, storage room, and bathroom.
The building has private parking in the back and additional free city parking lots. The property is earthquake retrofitted and is positioned on highly trafficked Myrtle Avenue, next to Bank of America, across from Citibank, and near a high-traffic shopping plaza anchored by Vons Pavilions and Chase Bank.
Key Highlights
- Freestanding building with 2 separate units totaling 4,180 SF
- Two front‑and‑back entrances; all utilities are separately metered
- Suite 218 leased to a franchise pet shop
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
$92,481
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
3.58%
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%
$1,849,620
$1.8M
Cap Rate 7%
$1,321,157
$1.3M
Cap Rate 9%
$1,027,567
$1.0M
Market Conditions
NOI Build-Up for 4,180 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
$141.5K $33.84/SF
− Vacancy
−$9.3K −$2.23/SF
EGI
$132.1K $31.61/SF
− OpEx
−$39.6K −$9.48/SF
NOI
$92.5K $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%
$1,849,620
Cap Rate 7%
$1,321,157
Cap Rate 9%
$1,027,567
Alternative Uses
Best Use
Retail
$1.32M
$1.16M – $1.54M
NOI $92,481 @ 7.0% cap · market cap 3.58%
Second Best
Office B
$1.31M
$1.14M – $1.52M
NOI $91,371 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,657 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 91016, CA
41,852
Population
16,171
Households
2.6
Avg Household Size
41
Median Age
44%
College-Educated
90%
High-School Grad
8.5 sq mi
ZIP Area
4,924
Density / Sq Mi
$99,555
Median Household Income
$51,120
Median Earnings
$2,008
Median Rent
$874,100
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 units - Freestanding building with two separately metered units and dual front-and-back entrances, plus private rear parking.
Where is this office units located?
The property is located at 220 218-220 S Myrtle Avenue Monrovia, CA.
What is the asking price?
The asking price for this property is $2,580,000.
What are key features of this property?
This property features: Freestanding building with 2 separate units totaling 4,180 SF; Two front‑and‑back entrances; all utilities are separately metered; Suite 218 leased to a franchise pet shop
