Two Buildings on One
For Sale
$6,888,888
748 N Mckeever Ave, Azusa, CA 91702
Two well-maintained buildings totaling over 26,000 SF on one acre.
Property Size26,697 SF
Lot Size1.09 Acres
Price / SF$264.96
Days on Market152
Property Features for 748 N Mckeever Ave
General Information
Standard status
Active
Size
26,697 SF
Lot size
1.09 Acres
Property subtype
Industrial
Building Details
Building Size
26,697 SF
Year Built
1969
Listing Agency:
Mystic Canyon Real Estate
(626) 991-7522
Listed By:
Roxanne Lopez · License #01981366
(626) 991-7522
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:51AM
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 Mystic Canyon Real Estate
Investment Insights
Based on property information with market context.
This property features two separate buildings totaling over 26,000 square feet situated on over one acre. The buildings offer unobstructed use of space with virtually no columns. Upgrades include a new ASTEC Fluid-Applied Re-Ply Cool Roof System, new doors and windows, upgraded electrical, a new asphalt driveway and parking area, and new paint on both buildings. The property has 400 AMP electricity. The rear concrete building features unique container interior offices with a one-of-a-kind aesthetic and includes shipping container storage at the rear exterior of the building. The front offices are situated in front of the metal building. Both buildings have a ceiling clearance of 24-28 feet and multiple roll-up doors. A security system is included. New wrought iron fencing is present in front of the property. The property is close to all major freeways, gas, food, and retail.
Key Highlights
- Over 26,000 sq ft of space across two buildings on over one acre.
- Virtually column‑free space with 24‑28 ft ceiling clearance and multiple roll‑up doors.**
- Recent upgrades including new roof, doors & windows, electrical upgrades, and new asphalt driveway & parking 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
$568,339
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
8.25%
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%
$11,366,780
$11.4M
Cap Rate 7%
$8,119,129
$8.1M
Cap Rate 9%
$6,314,878
$6.3M
Market Conditions
NOI Build-Up for 26,000 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
$998.4K $38.40/SF
− Vacancy
−$240.6K −$9.25/SF
EGI
$757.8K $29.15/SF
− OpEx
−$189.4K −$7.29/SF
NOI
$568.3K $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%
$11,366,780
Cap Rate 7%
$8,119,129
Cap Rate 9%
$6,314,878
Alternative Uses
Best Use
Office B
$8.12M
$7.10M – $9.47M
NOI $568,339 @ 7.0% cap · market cap 8.25%
Second Best
Warehouse
$4.83M
$4.23M – $5.64M
NOI $338,310 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$13.92M
$12.18M – $16.24M
NOI $974,421 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,146
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91702, CA
62,328
Population
18,218
Households
3.4
Avg Household Size
34
Median Age
24%
College-Educated
78%
High-School Grad
65.0 sq mi
ZIP Area
959
Density / Sq Mi
$87,577
Median Household Income
$35,714
Median Earnings
$1,847
Median Rent
$604,600
Median Home Value
Market
Vacancy Rate% for Office 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 - Two well-maintained buildings totaling over 26,000 SF on one acre.
Where is this flex space located?
The property is located at 748 N Mckeever Ave Azusa, CA.
What is the asking price?
The asking price for this property is $6,888,888.
What are key features of this property?
This property features: Over 26,000 sq ft of space across two buildings on over one acre.; Virtually column‑free space with 24‑28 ft ceiling clearance and multiple roll‑up doors.**; Recent upgrades including new roof, doors & windows, electrical upgrades, and new asphalt driveway & parking area.
