Street-Front Retail
New
For Sale
$895,000
510 S Myrtle Ave, Monrovia, CA 91016
Existing furniture, fixtures, and equipment support continued retail use or a new business concept.
Property Size1,417 SF
Lot Size0.06 Acres
Price / SF$631.62
Days on Market2
Property Features for 510 S Myrtle Ave
General Information
Standard status
Active
Size
1,417 SF
Total Parking Spaces
3
Lot size
0.06 Acres
Property subtype
Retail
Additional Details
Business Included
Yes
Building Details
Building Size
1,417 SF
Year Built
1914
Tenancy
Single
Listing Agency:
Progressive Real Estate Partners
Listed By:
Paul Su · License #CalDRE #01949696
(626) 417-4539
Source:
Progressiverep
Added: Sep 2
Last Checked: Sep 2 at 2:02PM
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 Progressive Real Estate Partners
Investment Insights
Based on property information with market context.
This storefront retail property at 510 S Myrtle Ave in Monrovia contains approximately 1,417 SF on a 2,452 SF lot. Constructed in 1914, the building includes three rear staff parking spaces and furniture, fixtures, and equipment associated with the existing Boba Tea shop. The included FF&E may support continuation of the current operation or adaptation to another retail concept.
The property is situated along Myrtle Avenue in Old Town Monrovia, an established retail district with local businesses, dining, and recurring pedestrian activity. The Friday evening Monrovia Street Fair & Market brings live music, food, produce, specialty vendors, artisan products, shopping, and family-oriented entertainment to the area.
For owner-users, preliminary SBA financing illustrates a possible structure with 10% borrower equity and 25-year amortization, subject to lender approval and buyer qualifications. A seller leaseback of one to five years may also be discussed for buyers pursuing a real estate investment, subject to mutually acceptable terms.
The property is situated along Myrtle Avenue in Old Town Monrovia, an established retail district with local businesses, dining, and recurring pedestrian activity. The Friday evening Monrovia Street Fair & Market brings live music, food, produce, specialty vendors, artisan products, shopping, and family-oriented entertainment to the area.
For owner-users, preliminary SBA financing illustrates a possible structure with 10% borrower equity and 25-year amortization, subject to lender approval and buyer qualifications. A seller leaseback of one to five years may also be discussed for buyers pursuing a real estate investment, subject to mutually acceptable terms.
Key Highlights
- Approximately 1,417 SF street‑front retail building
- 2,452 SF lot with three rear staff parking spaces
- 1914 construction date
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
$31,351
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%
$627,020
$627.0K
Cap Rate 7%
$447,871
$447.9K
Cap Rate 9%
$348,344
$348.3K
Market Conditions
NOI Build-Up for 1,417 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
$48.0K $33.84/SF
− Vacancy
−$3.2K −$2.23/SF
EGI
$44.8K $31.61/SF
− OpEx
−$13.4K −$9.48/SF
NOI
$31.4K $22.12/SF
Area
Los Angeles County, CA
Vacancy
6.60%
Lease Rate
$33.84 /SF/Yr
Expense Ratio
30.00%
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%
$627,020
Cap Rate 7%
$447,871
Cap Rate 9%
$348,344
Alternative Uses
Best Use
Retail
$447.9K
$391.9K – $522.5K
NOI $31,351 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$758.7K
$663.8K – $885.1K
NOI $53,106 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
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
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Frequently Asked Questions
What type of property is this?
Storefront property - Existing furniture, fixtures, and equipment support continued retail use or a new business concept.
Where is this storefront property located?
The property is located at 510 S Myrtle Ave Monrovia, CA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Approximately 1,417 SF street‑front retail building; 2,452 SF lot with three rear staff parking spaces; 1914 construction date
