Wellness and Office Condo
For Sale
$390,000
300 Garfield Avenue, Monterey Park, CA 91754
Flexible condo layout with reception area, private rooms, and laundry hookups for wellness, beauty, office, or service uses.
Property Size856 SF
Price / SF$455.61
Days on Market107
Property Features for 300 Garfield Avenue
General Information
Standard status
Active
Size
856 SF
Property subtype
Office
Amenities
3
Building Details
Year Built
1984
Listing Agency:
High Ten Partners, Inc.
(626) 289-6660
Listed By:
Shumei Kam · License #00798181
(626) 202-6446
Source:
Xome
Added: May 26
Changed: Sep 8
Last Checked: Aug 22 at 3:24AM
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 High Ten Partners, Inc.
Investment Insights
Based on property information with market context.
This office/retail condo offers a flexible layout suitable for a variety of professional, medical, wellness, beauty, office, or service-oriented uses. The space was previously operated as a spa and includes a welcoming reception or open service area, multiple private rooms, utility/storage areas, and laundry hookups. Total size is 856 SF.
The unit is located at 300 S Garfield Ave in Monterey Park, CA 91754.
The unit is located at 300 S Garfield Ave in Monterey Park, CA 91754.
Key Highlights
- 856 SF office/retail condo space with flexible layout
- Reception or open service area for client‑facing operations
- Multiple private rooms for treatment, consultation, or offices
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
$18,711
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
4.80%
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%
$374,220
$374.2K
Cap Rate 7%
$267,300
$267.3K
Cap Rate 9%
$207,900
$207.9K
Market Conditions
NOI Build-Up for 856 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
$32.9K $38.40/SF
− Vacancy
−$7.9K −$9.25/SF
EGI
$24.9K $29.15/SF
− OpEx
−$6.2K −$7.29/SF
NOI
$18.7K $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%
$374,220
Cap Rate 7%
$267,300
Cap Rate 9%
$207,900
Alternative Uses
Best Use
Office B
$267.3K
$233.9K – $311.9K
NOI $18,711 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$458.3K
$401.0K – $534.7K
NOI $32,081 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,786
Businesses Nearby
Balanced
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Wes L. Lai, Lac — 300 S Atlantic Blvd, Monterey Park, CA 91754
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- Acupuncture & Herbal — 500 N Garfield Ave # 201, Monterey Park, CA 91754
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Flexible condo layout with reception area, private rooms, and laundry hookups for wellness, beauty, office, or service uses.
Where is this spa & wellness property located?
The property is located at 300 Garfield Avenue Monterey Park, CA.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 856 SF office/retail condo space with flexible layout; Reception or open service area for client‑facing operations; Multiple private rooms for treatment, consultation, or offices
