Two-Building Office
For Sale
$5,500,000
281 E Workman, Covina, CA 91723
Commercial Sale, Covina, CA
Property Size20,784 SF
Lot Size1.10 Acres
Price / SF$264.63
Days on Market22
Property Features for 281 E Workman
General Information
Property type
Commercial Sale
Property subtype
Office
Fencing
Chain Link
Directions
Cross Street is E/Citrus St and W/Barranca
Subdivision
614 - Covina
Standard status
Active
APN
8451010018
Lot size
1.10 Acres
Additional Details
Property Use
Office
Taxes and HOA fees
Tax Annual Amount
68750
Utilities
Cooling system
Central Air
Amenities
Solar panels
Building Details
Year built
1962
Buildings
2
Listing Agency:
CENTURY 21 CITRUS REALTY INC · Century 21 Real Estate
(909) 592-8500
Listed By:
Albert Rodriguez · License #01250095
(626) 255-4854
Added: Oct 13
Changed: Nov 2
Last Checked: Nov 3 at 1:06AM
MLS# CV26223270
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This office property consists of two freestanding buildings at 271 and 281 E. Workman Avenue, with 10,392 square feet in each building and 20,784 square feet combined. Built in 1962, the buildings have central air conditioning and a chain-link fence. The 1.1-acre parcel provides 71 parking spaces, and the property includes solar equipment.
Eastland Shopping Center is across the street, with the property 0.3 mile from the 10 freeway, between the Barranca and Citrus offramps. Nearby retail, banking, and dining options include Target, Dick’s Sporting Goods, Starbucks, IKEA, Sprouts Farmers Market, and Fogo de Chão.
Eastland Shopping Center is across the street, with the property 0.3 mile from the 10 freeway, between the Barranca and Citrus offramps. Nearby retail, banking, and dining options include Target, Dick’s Sporting Goods, Starbucks, IKEA, Sprouts Farmers Market, and Fogo de Chão.
Key Highlights
- Two freestanding office buildings totaling 20,784 square feet
- Each building contains 10,392 square feet
- 1.1‑acre site with 71 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$454,322
Cap Rate
8.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,086,440
$9.1M
Cap Rate 7%
$6,490,314
$6.5M
Cap Rate 9%
$5,048,022
$5.0M
Market Conditions
NOI Build-Up for 20,784 SF
Gross rent
$798.1K $38.40/SF
− Vacancy
−$192.3K −$9.25/SF
EGI
$605.8K $29.15/SF
− OpEx
−$151.4K −$7.29/SF
NOI
$454.3K $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 Rate 5%
$9,086,440
Cap Rate 7%
$6,490,314
Cap Rate 9%
$5,048,022
Alternative Uses
Best Use
Office B
$6.49M
$5.68M – $7.57M
NOI $454,322 @ 7.0% cap · market cap 8.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.13M
$9.74M – $12.98M
NOI $778,937 @ 7.0% cap · market cap 14.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,044
Businesses Nearby
Explore this area
Business Placement
Demographics for 91723, CA
19,653
Population
6,516
Households
3
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
8,545
Density / Sq Mi
$87,363
Median Household Income
$44,154
Median Earnings
$1,711
Median Rent
$663,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - The multi-tenant property includes two freestanding buildings and on-site parking.
Where is this office building located?
The property is located at 281 E Workman Covina, CA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Two freestanding office buildings totaling 20,784 square feet; Each building contains 10,392 square feet; 1.1‑acre site with 71 parking spaces
