Freestanding Multi-Unit Retail-Office
220 218-220 S Myrtle Ave Monrovia, CA 91016
220 218-220 S Myrtle Ave, Monrovia, CA, 91016
$2,580,000
For Sale
$2,580,000
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 Market50
Property Features for 220 218-220 S Myrtle Ave
General Information
- Standard status
- Active
- Size
- 4,180 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1928
Listing agency
VasTree Real Estate
(626) 294-9900
Listed by
Jeannette Zhang · License #01851681
(626) 294-9900
Source
Elliman
Added: Jun 4 Updated: Jul 22 at 7:27PM Checked: Jul 22 at 7:27PM
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
Local Financial Insights For Retail
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 | $141.5k | $33.84 |
| − Vacancy | −$9.3k | −$2.23 |
| EGI | $132.1k | $31.61 |
| − OpEx | −$39.6k | −$9.48 |
| NOI | $92.5k | $22.12 |
4,180 SF · lease $33.84/SF/yr · vacancy 6.60% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
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FAQs
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 Ave 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
