Retail Storefront
For Sale
$1,850,000
617 S Myrtle Ave, Monrovia, CA 91016
Vacant 2,800 sq ft retail building with open showroom, offices, restroom, and rear storage plus convenient rear parking.
Property Size2,800 SF
Price / SF$660.71
Days on Market205
Property Features for 617 S Myrtle Ave
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1901
Listing Agency:
Coldwell Banker Realty
(626) 445-5500
Listed By:
Tim Cragoe · License #01119101
(626) 533-1881
Source:
Exitrealty
Added: Feb 13
Changed: Sep 2
Last Checked: Sep 6 at 8:34AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This vacant retail storefront building is ready for a new tenant or owner, offering a large open showroom, built-out offices, a restroom, and a rear storage area. The building is being sold vacant, allowing for straightforward reconfiguration based on the next use.
Located on S Myrtle in Monrovia, the property benefits from high walkability (Walk Score 92) and a bikeable setting (Bike Score 63), with some transit access indicated by a Transit Score of 32.
With its retail-forward showroom area, supporting office space, and on-site rear storage alongside convenient rear parking, the layout is designed to support practical day-to-day operations for a range of retail concepts.
Located on S Myrtle in Monrovia, the property benefits from high walkability (Walk Score 92) and a bikeable setting (Bike Score 63), with some transit access indicated by a Transit Score of 32.
With its retail-forward showroom area, supporting office space, and on-site rear storage alongside convenient rear parking, the layout is designed to support practical day-to-day operations for a range of retail concepts.
Key Highlights
- Vacant 2,800 sq ft retail building with a large open showroom plus built‑out offices
- Includes restroom and a rear storage area
- Convenient rear parking
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
$61,949
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
3.35%
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%
$1,238,980
$1.2M
Cap Rate 7%
$884,986
$885.0K
Cap Rate 9%
$688,322
$688.3K
Market Conditions
NOI Build-Up for 2,800 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
$94.8K $33.84/SF
− Vacancy
−$6.3K −$2.23/SF
EGI
$88.5K $31.61/SF
− OpEx
−$26.5K −$9.48/SF
NOI
$61.9K $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%
$1,238,980
Cap Rate 7%
$884,986
Cap Rate 9%
$688,322
Alternative Uses
Best Use
Retail
$885.0K
$774.4K – $1.03M
NOI $61,949 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,938 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,495
Businesses Nearby
243k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Groceries 20%
Shops & Services 14%
Home Improvements & Furnishings 3%
VONS
Groceries
48,418 visits/mo
0.4 miles
Starbucks
Dining
28,735 visits/mo
0.4 miles
Wendy's
Dining
21,281 visits/mo
0.4 miles
Jack in the Box
Dining
14,601 visits/mo
0.4 miles
Chase Bank
Shops & Services
13,777 visits/mo
0.4 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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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Storefront property - Vacant 2,800 sq ft retail building with open showroom, offices, restroom, and rear storage plus convenient rear parking.
Where is this storefront property located?
The property is located at 617 S Myrtle Ave Monrovia, CA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Vacant 2,800 sq ft retail building with a large open showroom plus built‑out offices; Includes restroom and a rear storage area; Convenient rear parking
