Remodeled Freestanding Building For
For Sale
Contact for pricing
578-580 E San Bernardino Rd, Covina, CA
Freestanding, remodeled building with office and flex space.
Property Size2,976 SF
Lot Size0.20 Acres
Price / SF$302.08
Days on Market501
Property Features for 578-580 E San Bernardino Rd
General Information
Standard status
Active
Size
2,976 SF
Lot size
0.20 Acres
Property subtype
OFFICE
Listing Agency:
Top Commercial Realty
(626) 399-3715
Listed By:
Linda Vidov · License #1715788
(626) 399-3715
Source:
Moodyscre
Added: Mar 28, 2025
Changed: Aug 8
Last Checked: Aug 7 at 8:49AM
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 Top Commercial Realty
Investment Insights
Based on property information with market context.
This is a freestanding, fully remodeled building situated on approximately 8,747 square feet of land. The property, totaling 2,976 square feet, features a front office area with a large open working area, a conference room, two private offices, a kitchenette, two ADA compliant restrooms, and a storage area. The back portion of the building has a large room that could be opened up, a large flex space currently used as a garage, and a walk-in refrigerator. Currently used as one unit by an owner/user, the building will be vacated at the close of escrow. Previously a two-tenant building, the second entrance door remains, allowing it to be restored to two units.
Key Highlights
- Fully remodeled, free‑standing building on a large lot (approx. 8,747 sq ft).
- Versatile space: Currently one unit, but easily convertible back to two separate units.
- Includes desirable features: Conference room, kitchenette, two private offices, and storage area.
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
$65,053
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
7.24%
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%
$1,301,060
$1.3M
Cap Rate 7%
$929,329
$929.3K
Cap Rate 9%
$722,811
$722.8K
Market Conditions
NOI Build-Up for 2,976 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
$114.3K $38.40/SF
− Vacancy
−$27.5K −$9.25/SF
EGI
$86.7K $29.15/SF
− OpEx
−$21.7K −$7.29/SF
NOI
$65.1K $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%
$1,301,060
Cap Rate 7%
$929,329
Cap Rate 9%
$722,811
Alternative Uses
Best Use
Office B
$929.3K
$813.2K – $1.08M
NOI $65,053 @ 7.0% cap · market cap 7.24%
Second Best
Industrial
$496.8K
$434.7K – $579.6K
NOI $34,778 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,534 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,559
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Freestanding, remodeled building with office and flex space.
Where is this office building located?
The property is located at 578-580 E San Bernardino Rd Covina, CA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Fully remodeled, free‑standing building on a large lot (approx. 8,747 sq ft).; Versatile space: Currently one unit, but easily convertible back to two separate units.; Includes desirable features: Conference room, kitchenette, two private offices, and storage area.
