Fenced Office Building with
For Sale
$1,299,000
2222 W Garvey Ave S, West Covina, CA 91790
Well-maintained office building offering 16 rooms, two restrooms, and gated on-site parking.
Property Size4,000 SF
Days on Market72
Property Features for 2222 W Garvey Ave S
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
18
Property subtype
Commercial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Building Details
Building Size
4,000 SF
Year Built
1962
Listing Agency:
JV REALTY CONSULTING GROUP
(626) 851-8849
Listed By:
Juan Leyva · License #01122260
(626) 851-8849
Source:
Elliman
Added: Jun 4
Changed: Aug 14
Last Checked: Aug 8 at 8:38AM
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.
The property is an office building in excellent physical condition, arranged with 16 rooms and two bathrooms. The building is served by approximately 18 parking spaces and is fully fenced, with electric gate-controlled access for controlled entry.
The offering is described as located next to the 10 Freeway. Additional walk and bike scores indicate the area is somewhat walkable and somewhat bikeable.
This configuration can fit office users seeking a multi-room layout with dedicated parking and gated site access. The fenced setup may also support tenants that prefer controlled arrival and straightforward management of vehicle entry for staff and visitors.
The offering is described as located next to the 10 Freeway. Additional walk and bike scores indicate the area is somewhat walkable and somewhat bikeable.
This configuration can fit office users seeking a multi-room layout with dedicated parking and gated site access. The fenced setup may also support tenants that prefer controlled arrival and straightforward management of vehicle entry for staff and visitors.
Key Highlights
- Well‑maintained office building built in 1962
- 16 rooms with 2 baths
- Around 18 parking spaces on site
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
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,903
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 - Well-maintained office building offering 16 rooms, two restrooms, and gated on-site parking.
Where is this office building located?
The property is located at 2222 W Garvey Ave S 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: Well‑maintained office building built in 1962; 16 rooms with 2 baths; Around 18 parking spaces on site
