Established Restaurant & Bar
For Sale
$1,297,000
2428 S Garfield Avenue, Monterey Park, CA 91754
Landmark restaurant and real estate in desirable Monterey Park location.
Property Size2,171 SF
Lot Size0.19 Acres
Price / SF$597.42
Days on Market263
Property Features for 2428 S Garfield Avenue
General Information
Standard status
Active
Size
2,171 SF
Lot size
0.19 Acres
Property subtype
Retail
Building Details
Building Size
2,171 SF
Year Built
1952
Listing Agency:
Michael Luu, Broker
Listed By:
Michael Luu · License #01243901
Source:
Archetyperealty
Added: Jan 20
Changed: Sep 30
Last Checked: Oct 10 at 1:23AM
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 Michael Luu, Broker
Investment Insights
Based on property information with market context.
This standalone commercial property is situated in Monterey Park, south of Garvey Ave, north of the 60 Freeway, and east of Atlantic Blvd. Constructed in 1952, the property includes approximately 2,171 square feet of building area on an 8,186 square foot lot. It offers both front and rear access and benefits from excellent street visibility. The property has housed The Venice Room, a restaurant and bar, since 1955. The business is known for its unique grill-your-own steak dining experience and holds a Type 48 liquor license. The business benefits from strong revenue performance and a loyal, multi-generational customer base. The sale of the real property is required to close concurrently with the sale of the operating business under a separate agreement. The location is considered a highly desirable infill location with strong traffic exposure and proximity to major transportation corridors. The bike score is 31, indicating it is somewhat bikeable, and the walk score is 51, indicating it is somewhat walkable.
Key Highlights
- Prime standalone commercial property in a desirable Monterey Park location with high traffic exposure.
- Long‑established restaurant and bar (The Venice Room) operating continuously since 1955 with a loyal customer base.
- Unique 'grill‑your‑own steak' dining experience, a rare concept in the area.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,463
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,029,260
$1.0M
Cap Rate 7%
$735,186
$735.2K
Cap Rate 9%
$571,811
$571.8K
Market Conditions
NOI Build-Up for 2,171 SF
Gross rent
$73.5K $33.84/SF
− Vacancy
−$4.8K −$2.23/SF
EGI
$68.6K $31.61/SF
− OpEx
−$17.2K −$7.90/SF
NOI
$51.5K $23.70/SF
Area
Los Angeles County, CA
Vacancy
6.60%
Lease Rate
$33.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,029,260
Cap Rate 7%
$735,186
Cap Rate 9%
$571,811
Alternative Uses
Best Use
Specialty Retail
$735.2K
$643.3K – $857.7K
NOI $51,463 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,364 @ 7.0% cap · market cap 6.27%
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
689
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91754, CA
33,300
Population
12,754
Households
2.6
Avg Household Size
44
Median Age
38%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
7,400
Density / Sq Mi
$81,890
Median Household Income
$46,992
Median Earnings
$1,884
Median Rent
$845,000
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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Similar Off Market Nearby
- El Torito Cafe East la — 5720 1/2 E Beverly Blvd, East Los Angeles, CA 90022
- Hole in One bar and grill — 886 N Garfield Ave, Montebello, CA 90640
- Starbucks — 2469 Via Campo, Montebello, CA 90640
- Venice Room — 2428 S Garfield Ave, Monterey Park, CA 91754
- Starbucks — 2230 S Atlantic Blvd, Monterey Park, CA 91754
Frequently Asked Questions
What type of property is this?
Bar & Pub - Landmark restaurant and real estate in desirable Monterey Park location.
Where is this bar & pub located?
The property is located at 2428 S Garfield Avenue Monterey Park, CA.
What is the asking price?
The asking price for this property is $1,297,000.
What are key features of this property?
This property features: Prime standalone commercial property in a desirable Monterey Park location with high traffic exposure.; Long‑established restaurant and bar (The Venice Room) operating continuously since 1955 with a loyal customer base.; Unique 'grill‑your‑own steak' dining experience, a rare concept in the area.
