Flex Space with Loading
For Sale
Contact for pricing
429 S Palm Ave, Alhambra, CA 91803
Freestanding flex space featuring a loading dock, multiple office spaces, and a fully stocked central kitchen.
Property Size15,029 SF
Price / SF$399.16
Days on Market229
Property Features for 429 S Palm Ave
General Information
Standard status
Active
Size
15,029 SF
Property subtype
INDUSTRIAL
Additional Details
Dock-High Doors
1
Listing Agency:
CBC George Realty
(626) 462-5678
Listed By:
Shumei Kam · License #00798181
(626) 462-5678
Source:
Moodyscre
Added: Jan 6
Changed: Aug 14
Last Checked: Aug 22 at 10:19AM
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 CBC George Realty
Investment Insights
Based on property information with market context.
This freestanding flex space includes one loading dock and multiple office spaces, with a fully stocked central kitchen. The layout is well-suited for a tenant needing both light production or warehouse-style operations and dedicated office and meal-prep functionality.
The property measures 15,029 SF and is located at 429 S Palm Ave in Alhambra, CA 91803. It is described as minutes away from Downtown Alhambra.
With the combination of office space and a central kitchen, the building can support day-to-day operations that require on-site coordination, storage, and food service needs alongside workspace.
The property measures 15,029 SF and is located at 429 S Palm Ave in Alhambra, CA 91803. It is described as minutes away from Downtown Alhambra.
With the combination of office space and a central kitchen, the building can support day-to-day operations that require on-site coordination, storage, and food service needs alongside workspace.
Key Highlights
- Freestanding flex space with one loading dock
- 15,029 SF building
- Multiple office spaces
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
$328,522
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
5.48%
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%
$6,570,440
$6.6M
Cap Rate 7%
$4,693,171
$4.7M
Cap Rate 9%
$3,650,244
$3.7M
Market Conditions
NOI Build-Up for 15,029 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
$577.1K $38.40/SF
− Vacancy
−$139.1K −$9.25/SF
EGI
$438.0K $29.15/SF
− OpEx
−$109.5K −$7.29/SF
NOI
$328.5K $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%
$6,570,440
Cap Rate 7%
$4,693,171
Cap Rate 9%
$3,650,244
Alternative Uses
Best Use
Office B
$4.69M
$4.11M – $5.48M
NOI $328,522 @ 7.0% cap · market cap 5.48%
Second Best
Warehouse
$2.79M
$2.44M – $3.26M
NOI $195,556 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$8.05M
$7.04M – $9.39M
NOI $563,253 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Location Intelligence
Trade Area within ½ mile
1,903
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91803, CA
29,374
Population
10,439
Households
2.8
Avg Household Size
42
Median Age
37%
College-Educated
80%
High-School Grad
3.3 sq mi
ZIP Area
8,901
Density / Sq Mi
$84,537
Median Household Income
$47,579
Median Earnings
$1,790
Median Rent
$831,800
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?
Flex space - Freestanding flex space featuring a loading dock, multiple office spaces, and a fully stocked central kitchen.
Where is this flex space located?
The property is located at 429 S Palm Ave Alhambra, CA.
What is the asking price?
The asking price for this property is $5,999,000.
What are key features of this property?
This property features: Freestanding flex space with one loading dock; 15,029 SF building; Multiple office spaces
