Fenced Office Building with
For Sale
$1,299,000
2222 Garvey Avenue, West Covina, CA 91790
Office building in excellent physical condition with fenced, gated access and ample on-site parking.
Property Size4,000 SF
Price / SF$324.75
Days on Market86
Property Features for 2222 Garvey Avenue
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
18
Property subtype
Office
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Office Units
16
Building Details
Year Built
1962
Listing Agency:
JV REALTY CONSULTING GROUP
(626) 851-8849
Listed By:
Juan Leyva · License #01122260
Source:
Xome
Added: May 13
Changed: Jul 10
Last Checked: Jul 16 at 6:50AM
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 JV REALTY CONSULTING GROUP
Investment Insights
Based on property information with market context.
This office building is reported to be in excellent physical condition and is configured with 16 rooms and 2 bathrooms. The property includes approximately 18 parking spaces, and it is fully fenced with electric gate-controlled access, providing controlled entry for occupants and visitors.
The building is described as being next to the 10 Freeway, offering straightforward roadway access for daily commutes and business travel.
With its multi-room office layout, on-site parking, and secure fenced entry, the property may suit owner-occupants or tenants looking for a self-contained office environment. The configuration supports a range of office uses that benefit from multiple rooms and dedicated parking for staff and clients, based on the features described.
The building is described as being next to the 10 Freeway, offering straightforward roadway access for daily commutes and business travel.
With its multi-room office layout, on-site parking, and secure fenced entry, the property may suit owner-occupants or tenants looking for a self-contained office environment. The configuration supports a range of office uses that benefit from multiple rooms and dedicated parking for staff and clients, based on the features described.
Key Highlights
- Office building with fenced access and electric gate control
- Around 18 on‑site parking spaces
- Composed of 16 rooms and 2 baths
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
$85,680
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
6.60%
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%
$1,713,600
$1.7M
Cap Rate 7%
$1,224,000
$1.2M
Cap Rate 9%
$952,000
$952.0K
Market Conditions
NOI Build-Up for 4,000 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
$134.4K $33.60/SF
− Vacancy
−$20.2K −$5.04/SF
EGI
$114.2K $28.56/SF
− OpEx
−$28.6K −$7.14/SF
NOI
$85.7K $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%
$1,713,600
Cap Rate 7%
$1,224,000
Cap Rate 9%
$952,000
Alternative Uses
Best Use
Office B
$1.22M
$1.07M – $1.43M
NOI $85,680 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$81.04M
$70.91M – $94.54M
NOI $5,672,632 @ 7.0% cap · market cap 436.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Office units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,558
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office building - Office building in excellent physical condition with fenced, gated access and ample on-site parking.
Where is this office building located?
The property is located at 2222 Garvey Avenue West Covina, CA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Office building with fenced access and electric gate control; Around 18 on‑site parking spaces; Composed of 16 rooms and 2 baths
