Fully Occupied Office
New
For Sale
$4,650,000
245 West Garvey Avenue, Monterey Park, CA 91754
MPC4-R3-zoned office building with full occupancy in Monterey Park.
Property Size17,988 SF
Price / SF$258.51
Days on Market4
Property Features for 245 West Garvey Avenue
General Information
Standard status
Active
Size
17,988 SF
Property subtype
Land
Zoning
MPC4-R3
Occupancy
100%
Building Details
Buildings
1
Building Size
17,988 SF
Listing Agency:
SVN Vanguard
(714) 421-2258
Listed By:
Anthony Ying · License #CalDRE #02052345
(714) 421-2258
Source:
Svnvanguard
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 30 at 3:45PM
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 SVN Vanguard
Investment Insights
Based on property information with market context.
Located at 245 West Garvey Avenue in Monterey Park, this office building contains 17,988 SF and is fully occupied. The property carries MPC4-R3 zoning, providing a defined commercial framework for its current office use.
The building is configured as an office asset with an adaptable layout suited to professional operations. Its location on West Garvey Avenue places the property within Monterey Park, California, while the existing occupancy provides an established operating profile for prospective ownership.
The building is configured as an office asset with an adaptable layout suited to professional operations. Its location on West Garvey Avenue places the property within Monterey Park, California, while the existing occupancy provides an established operating profile for prospective ownership.
Key Highlights
- 17,988 SF office building
- 100% occupancy
- MPC4‑R3 zoning
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
$393,203
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
8.46%
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%
$7,864,060
$7.9M
Cap Rate 7%
$5,617,186
$5.6M
Cap Rate 9%
$4,368,922
$4.4M
Market Conditions
NOI Build-Up for 17,988 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
$690.7K $38.40/SF
− Vacancy
−$166.5K −$9.25/SF
EGI
$524.3K $29.15/SF
− OpEx
−$131.1K −$7.29/SF
NOI
$393.2K $21.86/SF
Area
Los Angeles County, CA
Vacancy
24.10%
Lease Rate
$38.40 /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%
$7,864,060
Cap Rate 7%
$5,617,186
Cap Rate 9%
$4,368,922
Alternative Uses
Best Use
Office B
$5.62M
$4.92M – $6.55M
NOI $393,203 @ 7.0% cap · market cap 8.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.63M
$8.43M – $11.24M
NOI $674,149 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,872
Businesses Nearby
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - MPC4-R3-zoned office building with full occupancy in Monterey Park.
Where is this office building located?
The property is located at 245 West Garvey Avenue Monterey Park, CA.
What is the asking price?
The asking price for this property is $4,650,000.
What are key features of this property?
This property features: 17,988 SF office building; 100% occupancy; MPC4‑R3 zoning
