Built-Out Restaurant
For Sale
$1,600,000
506 Myrtle Avenue, Monrovia, CA 91016
Renovated restaurant space with commercial kitchen, new restrooms, and updated air-conditioning equipment.
Property Size2,360 SF
Price / SF$677.97
Days on Market184
Property Features for 506 Myrtle Avenue
General Information
Standard status
Active
Size
2,360 SF
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Amenities
MOCD*
1 Parking Spaces.
Building Details
Year Built
1914
Abandoned
No
Listing Agency:
(310) 432-6400
Listed By:
Keller Williams Beverly Hills
Source:
Xome
Added: Feb 28
Changed: Aug 30
Last Checked: Aug 30 at 10:10PM
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 Keller Williams Beverly Hills
Investment Insights
Based on property information with market context.
Located at 506 Myrtle Avenue in Monrovia, this 2,360-square-foot restaurant property was built in 1914 and is currently operating as Stinky Boba. The improvements include a commercial-grade kitchen, new restrooms, new Daikin air-conditioning units, and a roof coating. One parking space is included.
The property sits on Myrtle Avenue in Old Town Monrovia, near restaurants, locally owned businesses, community events, the Metro Gold Line, and the 210 Freeway. The existing Stinky Boba business may be included in the sale, although its purchase is not required.
The property sits on Myrtle Avenue in Old Town Monrovia, near restaurants, locally owned businesses, community events, the Metro Gold Line, and the 210 Freeway. The existing Stinky Boba business may be included in the sale, although its purchase is not required.
Key Highlights
- 2,360‑square‑foot restaurant property built in 1914
- Current Stinky Boba operation may be included, but is not required
- Commercial‑grade kitchen and new restrooms
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
$55,944
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
3.50%
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%
$1,118,880
$1.1M
Cap Rate 7%
$799,200
$799.2K
Cap Rate 9%
$621,600
$621.6K
Market Conditions
NOI Build-Up for 2,360 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
$79.9K $33.84/SF
− Vacancy
−$5.3K −$2.23/SF
EGI
$74.6K $31.61/SF
− OpEx
−$18.6K −$7.90/SF
NOI
$55.9K $23.70/SF
Area
Los Angeles County, CA
Vacancy
6.60%
Lease Rate
$33.84 /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%
$1,118,880
Cap Rate 7%
$799,200
Cap Rate 9%
$621,600
Alternative Uses
Best Use
Specialty Retail
$799.2K
$699.3K – $932.4K
NOI $55,944 @ 7.0% cap · market cap 3.50%
Second Best
Retail
$745.9K
$652.7K – $870.2K
NOI $52,214 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$1.26M
$1.11M – $1.47M
NOI $88,447 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,353
Businesses Nearby
167k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Groceries 29%
Shops & Services 27%
Beauty & Spa 2%
VONS
Groceries
48,418 visits/mo
0.2 miles
Wendy's
Dining
21,281 visits/mo
0.3 miles
Chase Bank
Shops & Services
13,777 visits/mo
0.3 miles
Blaze Pizza
Dining
11,021 visits/mo
0.2 miles
7-Eleven
Shops & Services
10,385 visits/mo
0.5 miles
Demographics for 91016, CA
41,852
Population
16,171
Households
2.6
Avg Household Size
41
Median Age
44%
College-Educated
90%
High-School Grad
8.5 sq mi
ZIP Area
4,924
Density / Sq Mi
$99,555
Median Household Income
$51,120
Median Earnings
$2,008
Median Rent
$874,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- SAY HUYEN CATERING — 710 S Myrtle Ave, Monrovia, CA 91016
Frequently Asked Questions
What type of property is this?
Restaurant - Renovated restaurant space with commercial kitchen, new restrooms, and updated air-conditioning equipment.
Where is this restaurant located?
The property is located at 506 Myrtle Avenue Monrovia, CA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 2,360‑square‑foot restaurant property built in 1914; Current Stinky Boba operation may be included, but is not required; Commercial‑grade kitchen and new restrooms
