Single-Tenant Retail/Industrial Flex
For Sale
$2,595,000
537 S Glendora Avenue, West Covina, CA 91790
Flex-use storefront/industrial building with direct access, roll-up loading door, and eight parking spaces.
Property Size15,442 SF
Lot Size0.47 Acres
Price / SF$168.05
Days on Market452
Property Features for 537 S Glendora Avenue
General Information
Standard status
Active
Size
15,442 SF
Total Parking Spaces
8
Lot size
0.47 Acres
Property subtype
Business
Zoning
WCNC
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
15,442 SF
Year Built
1960
Year Renovated
2005
Tenancy
Single
Listing Agency:
Douglas Elliman of Ca Inc
(626) 204-5252
Listed By:
Christian Stillmark · License #01920024
Source:
Archetyperealty
Added: May 30, 2025
Changed: Aug 23
Last Checked: Aug 23 at 3:34AM
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 Douglas Elliman of Ca Inc
Investment Insights
Based on property information with market context.
This single-tenant flex building has been extensively improved since the previous tenant moved out, including new paint, new floor surfaces, new lighting, new ceiling panels, and removal of prior tenant equipment and installations. The property was previously used for dry cleaning and fabric restoration services, offering practical versatility for a range of commercial requirements. Built in 1960 and renovated in 1988 and 2005, it is zoned WCNC Commercial and can support a variety of retail and light industrial-style uses subject to tenant/buyer verification with the City.
The property is located at 537 S Glendora Ave in West Covina and features direct access from S. Glendora Ave with full driveway ingress and egress. It includes a roll-up door for loading and eight parking spaces to support customer and employee access.
The site comprises a building and an associated lot. Tenant/buyer to confirm and verify all information, including potential uses with the City, to satisfy themselves of applicable requirements.
The property is located at 537 S Glendora Ave in West Covina and features direct access from S. Glendora Ave with full driveway ingress and egress. It includes a roll-up door for loading and eight parking spaces to support customer and employee access.
The site comprises a building and an associated lot. Tenant/buyer to confirm and verify all information, including potential uses with the City, to satisfy themselves of applicable requirements.
Key Highlights
- Single‑tenant flex storefront/industrial building for lease or sale at 537 S Glendora Ave in West Covina
- ±15,442 SF building on ±20,439 SF lot; built in 1960 with renovations in 1988 and 2005
- Zoned WCNC Commercial, suitable for various uses (tenant/buyer to verify with the City); previously used as a dry cleaner and fabric restoration services
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
$191,830
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
7.39%
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%
$3,836,600
$3.8M
Cap Rate 7%
$2,740,429
$2.7M
Cap Rate 9%
$2,131,444
$2.1M
Market Conditions
NOI Build-Up for 15,442 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
$292.8K $18.96/SF
− Vacancy
−$18.7K −$1.21/SF
EGI
$274.0K $17.75/SF
− OpEx
−$82.2K −$5.32/SF
NOI
$191.8K $12.42/SF
Area
West Covina, CA
Vacancy
6.40%
Lease Rate
$18.96 /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%
$3,836,600
Cap Rate 7%
$2,740,429
Cap Rate 9%
$2,131,444
Alternative Uses
Best Use
Retail
$5.58M
$4.88M – $6.51M
NOI $390,327 @ 7.0% cap · market cap 15.04%
Second Best
Industrial
$2.74M
$2.40M – $3.20M
NOI $191,830 @ 7.0% cap · market cap 7.39%
Theoretical Best
Multifamily LT 5
$312.85M
$273.74M – $364.99M
NOI $21,899,195 @ 7.0% cap · market cap 843.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,160
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91790, CA
46,364
Population
13,318
Households
3.5
Avg Household Size
39
Median Age
23%
College-Educated
83%
High-School Grad
5.8 sq mi
ZIP Area
7,994
Density / Sq Mi
$100,142
Median Household Income
$42,958
Median Earnings
$2,253
Median Rent
$695,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Flex-use storefront/industrial building with direct access, roll-up loading door, and eight parking spaces.
Where is this flex space located?
The property is located at 537 S Glendora Avenue West Covina, CA.
What is the asking price?
The asking price for this property is $2,595,000.
What are key features of this property?
This property features: Single‑tenant flex storefront/industrial building for lease or sale at 537 S Glendora Ave in West Covina; ±15,442 SF building on ±20,439 SF lot; built in 1960 with renovations in 1988 and 2005; Zoned WCNC Commercial, suitable for various uses (tenant/buyer to verify with the City); previously used as a dry cleaner and fabric restoration services
