Main-Level Office
For Sale
$555,000
308 First, Arcadia, CA 91006
Flexible commercial condominium with reception, private office, storage, restroom, and central air.
Property Size1,160 SF
Price / SF$478.45
Days on Market85
Property Features for 308 First
General Information
Standard status
Active
Size
1,160 SF
Property subtype
Office
Additional Details
Floor
Main Level
HOA Fee
$531.12
Amenities
Central Air
3
Corner Lot.
Corner.
Building Details
Year Built
2007
Listing Agency:
Re/Max Premier Properties
(626) 229-2200
Listed By:
Chuhui Huang · License #DRE #01869453
Source:
Xome
Added: Jun 7
Changed: Aug 29
Last Checked: Aug 29 at 11:48PM
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 Re/Max Premier Properties
Investment Insights
Based on property information with market context.
This office condominium was built in 2007 and provides 1,160 square feet on the main level of Il Villaggio Plaza. Access is through the center courtyard, and the interior includes a lobby or reception area, private office, storage room, restroom, and central air. An additional approximately 120 SF storage area is included outside the stated square footage.
The property is directly across from First Avenue Middle School and adjacent to Old Town Arcadia. Its configuration supports professional office, educational service, tutoring, retail, beverage, coffee, and other service-oriented concepts identified for the space. Parking is available in the underground garage and along the street. Common-area landscaping, water, trash, exterior building insurance, and exterior painting are included through the condominium association.
The property is directly across from First Avenue Middle School and adjacent to Old Town Arcadia. Its configuration supports professional office, educational service, tutoring, retail, beverage, coffee, and other service-oriented concepts identified for the space. Parking is available in the underground garage and along the street. Common-area landscaping, water, trash, exterior building insurance, and exterior painting are included through the condominium association.
Key Highlights
- 1,160‑square‑foot office condominium built in 2007
- Additional approximately 120 SF storage area beyond the stated square footage
- Main‑level location with access from the center courtyard
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
$25,357
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
4.57%
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%
$507,140
$507.1K
Cap Rate 7%
$362,243
$362.2K
Cap Rate 9%
$281,744
$281.7K
Market Conditions
NOI Build-Up for 1,160 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
$44.5K $38.40/SF
− Vacancy
−$10.7K −$9.25/SF
EGI
$33.8K $29.15/SF
− OpEx
−$8.5K −$7.29/SF
NOI
$25.4K $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%
$507,140
Cap Rate 7%
$362,243
Cap Rate 9%
$281,744
Alternative Uses
Best Use
Office B
$362.2K
$317.0K – $422.6K
NOI $25,357 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$621.1K
$543.4K – $724.6K
NOI $43,474 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,840
Businesses Nearby
Explore this area
Business Placement
Demographics for 91006, CA
31,949
Population
11,291
Households
2.8
Avg Household Size
44
Median Age
56%
College-Educated
92%
High-School Grad
6.4 sq mi
ZIP Area
4,992
Density / Sq Mi
$127,511
Median Household Income
$58,188
Median Earnings
$2,141
Median Rent
$1,187,600
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 units - Flexible commercial condominium with reception, private office, storage, restroom, and central air.
Where is this office units located?
The property is located at 308 First Arcadia, CA.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: 1,160‑square‑foot office condominium built in 2007; Additional approximately 120 SF storage area beyond the stated square footage; Main‑level location with access from the center courtyard
