Flex Space With High
For Sale
$6,888,888
748 N Mckeever Avenue Az, Azusa, CA 91702
Two upgraded buildings provide largely column-free interiors, container offices, roll-up doors, and secured site improvements.
Property Size26,697 SF
Price / SF$258.04
Days on Market59
Property Features for 748 N Mckeever Avenue Az
General Information
Standard status
Active
Size
26,697 SF
Total Parking Spaces
21
Zoning
AZM1M2
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
28 ft
Clear Span
Yes
Power
400 amps
Amenities
Security system
1
true
Common Area
Assessor
Chain Link,Wrought Iron
Lot Over 40000 Sqft
Public
47487
21
1.0902
26697
2
Building Details
Building Size
26,697 SF
Year Built
1969
Buildings
2
Listing Agency:
KALEO REAL ESTATE COMPANY; 626-991-7522
(909) 328-1567
Listed By:
Jorge Murcia · License #01981366
(909) 328-1567
Source:
Rmarealty
Added: Jul 3
Changed: Aug 30
Last Checked: Aug 30 at 12:55PM
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 KALEO REAL ESTATE COMPANY; 626-991-7522
Investment Insights
Based on property information with market context.
This flex space property includes two separate buildings totaling 26,697 square feet on 1.0902 acres. The interiors are largely free of columns, supporting unobstructed use of the available space. Both buildings offer 24-28 feet of ceiling clearance and multiple roll-up doors. The rear concrete building includes interior offices constructed from shipping containers, along with exterior container storage. Front office space is positioned ahead of the metal building.
Recent improvements include an ASTEC Fluid-Applied Re-Ply Cool Roof System, replacement doors and windows, upgraded electrical service, fresh paint in both buildings, and a new asphalt driveway and parking area. The property has 400 AMP electricity, a security system, and new wrought iron fencing along the front. Zoning is AZM1M2, and the site is near major freeways, gas, food, and retail services.
Recent improvements include an ASTEC Fluid-Applied Re-Ply Cool Roof System, replacement doors and windows, upgraded electrical service, fresh paint in both buildings, and a new asphalt driveway and parking area. The property has 400 AMP electricity, a security system, and new wrought iron fencing along the front. Zoning is AZM1M2, and the site is near major freeways, gas, food, and retail services.
Key Highlights
- 26,697‑square‑foot flex property comprising two separate buildings
- 1.0902‑acre site with 24‑28 feet of ceiling clearance
- Largely column‑free interiors with multiple roll‑up doors
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
$583,575
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
8.47%
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%
$11,671,500
$11.7M
Cap Rate 7%
$8,336,786
$8.3M
Cap Rate 9%
$6,484,167
$6.5M
Market Conditions
NOI Build-Up for 26,697 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
$1.03M $38.40/SF
− Vacancy
−$247.1K −$9.25/SF
EGI
$778.1K $29.15/SF
− OpEx
−$194.5K −$7.29/SF
NOI
$583.6K $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%
$11,671,500
Cap Rate 7%
$8,336,786
Cap Rate 9%
$6,484,167
Alternative Uses
Best Use
Office B
$8.34M
$7.29M – $9.73M
NOI $583,575 @ 7.0% cap · market cap 8.47%
Second Best
Warehouse
$4.96M
$4.34M – $5.79M
NOI $347,380 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$14.29M
$12.51M – $16.68M
NOI $1,000,543 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28 ft
Clear height
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
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
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Frequently Asked Questions
What type of property is this?
Flex space - Two upgraded buildings provide largely column-free interiors, container offices, roll-up doors, and secured site improvements.
Where is this flex space located?
The property is located at 748 N Mckeever Avenue Az 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: 26,697‑square‑foot flex property comprising two separate buildings; 1.0902‑acre site with 24‑28 feet of ceiling clearance; Largely column‑free interiors with multiple roll‑up doors
