Prime Monterey Park Commercial
For Sale
$4,600,000
745 Garvey Avenue, Monterey Park, CA 91755
Mixed-use retail and office building in a high-traffic location.
Property Size8,006 SF
Lot Size0.55 Acres
Price / SF$574.57
Days on Market859
Property Features for 745 Garvey Avenue
General Information
Standard status
Active
Size
8,006 SF
Lot size
0.55 Acres
Property subtype
General Commercial
Amenities
3
Corner Lot.
Corner.
Building Details
Year Built
2008
Listing Agency:
CBD Investment Inc.
(626) 566-2221
Listed By:
Henry Liu · License #013782889
Source:
Xome
Added: Apr 17, 2024
Changed: Aug 23
Last Checked: Aug 22 at 12:07PM
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 CBD Investment Inc.
Investment Insights
Based on property information with market context.
Located on Commercial Garvey Ave in Monterey Park, this two-story mixed-use property offers a blend of retail and office spaces. The building has a size of 8,006 square feet and is situated on a 23,902-square-foot lot. The first floor is currently occupied by a restaurant, while the second floor houses an accounting office and academic program offices. A spacious parking lot is available at the back of the property to accommodate customer parking. The property's location provides convenient access to downtown Los Angeles, USC Medical School, Pasadena, Cal Tech University, and the airport. It is also near freeways 10, 60, 710, 5, and 101, facilitating easy access to other areas. The high-traffic location makes it suitable for retail and office uses.
Key Highlights
- Prime location on Commercial Garvey Ave in Monterey Park.
- Proximity to downtown Los Angeles, USC Medical School, Pasadena, and Cal Tech.
- Easy access to freeways 10, 60, 710, 5, and 101.
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
$162,122
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
3.52%
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%
$3,242,440
$3.2M
Cap Rate 7%
$2,316,029
$2.3M
Cap Rate 9%
$1,801,356
$1.8M
Market Conditions
NOI Build-Up for 8,006 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
$288.2K $36.00/SF
− Vacancy
−$28.8K −$3.60/SF
EGI
$259.4K $32.40/SF
− OpEx
−$97.3K −$12.15/SF
NOI
$162.1K $20.25/SF
Area
Los Angeles County, CA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,242,440
Cap Rate 7%
$2,316,029
Cap Rate 9%
$1,801,356
Alternative Uses
Best Use
Mixed Use
$2.32M
$2.03M – $2.70M
NOI $162,122 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.29M
$3.75M – $5.00M
NOI $300,047 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,406
Businesses Nearby
Explore this area
Business Placement
Demographics for 91755, CA
27,637
Population
9,316
Households
3
Avg Household Size
44
Median Age
32%
College-Educated
77%
High-School Grad
3.2 sq mi
ZIP Area
8,637
Density / Sq Mi
$74,362
Median Household Income
$37,778
Median Earnings
$1,811
Median Rent
$761,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use retail and office building in a high-traffic location.
Where is this mixed-use property located?
The property is located at 745 Garvey Avenue Monterey Park, CA.
What is the asking price?
The asking price for this property is $4,600,000.
What are key features of this property?
This property features: Prime location on Commercial Garvey Ave in Monterey Park.; Proximity to downtown Los Angeles, USC Medical School, Pasadena, and Cal Tech.; Easy access to freeways 10, 60, 710, 5, and 101.
