Two-Unit Mixed-Use
New
For Sale
$2,580,000
220 S Myrtle Ave, Monrovia, CA 91016
Separate utility meters and entrances support independent operation of the retail and office spaces.
Property Size4,180 SF
Price / SF$617.22
Days on Market3
Property Features for 220 S Myrtle Ave
General Information
Standard status
Active
Size
4,180 SF
Building Details
Year Built
1928
Listing Agency:
VasTree Real Estate
Listed By:
Jeannette Zhang · License #01851681
(626) 294-9900
Source:
Myfabuloushome
Added: Sep 30
Last Checked: Oct 1 at 3:04PM
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 mixed-use property contains two units totaling 4,180 square feet. Suite 218 is leased to a retail pet store with a self-service dog wash. Suite 220 is configured with a reception area, meeting room, large conference room with a skylight, sales floor, two private offices, kitchen, storage room and bathroom. Marble flooring and high ceilings are also present. Both suites have front and rear entrances, and utilities are separately metered. The building has signage on both sides, private parking behind the property and earthquake retrofitting.
At 220 S Myrtle Ave in Monrovia, the property sits near Bank of America and across from Citibank. A nearby shopping plaza includes Vons Pavilions and Chase Bank. Myrtle Avenue hosts events throughout the year, including a Friday street fair.
At 220 S Myrtle Ave in Monrovia, the property sits near Bank of America and across from Citibank. A nearby shopping plaza includes Vons Pavilions and Chase Bank. Myrtle Avenue hosts events throughout the year, including a Friday street fair.
Key Highlights
- Freestanding building with two units totaling 4,180 square feet
- Suite 218 is leased to a pet retailer with a self‑service dog wash
- Suite 220 includes a conference room with skylight, sales floor and two private offices
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
Mixed Use
$1.21M
$1.06M – $1.41M
NOI $84,645 @ 7.0% cap · market cap 3.28%
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,002
Businesses Nearby
160k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Groceries 30%
Shops & Services 24%
Beauty & Spa 3%
VONS
Groceries
48,418 visits/mo
0.1 miles
Wendy's
Dining
21,281 visits/mo
0.1 miles
Chase Bank
Shops & Services
13,777 visits/mo
0.1 miles
Blaze Pizza
Dining
11,021 visits/mo
0.0 miles
7-Eleven
Shops & Services
10,385 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate utility meters and entrances support independent operation of the retail and office spaces.
Where is this mixed-use property located?
The property is located at 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 two units totaling 4,180 square feet; Suite 218 is leased to a pet retailer with a self‑service dog wash; Suite 220 includes a conference room with skylight, sales floor and two private offices
