Industrial Condos in Covina Business
For Sale
Contact for pricing
771 E Edna Pl, Covina, CA 91723
Industrial condos in modern business park with freeway access.
Property Size2,856 SF
Price / SF$399
Days on Market154
Property Features for 771 E Edna Pl
General Information
Standard status
Active
Size
2,856 SF
Class
A
Property subtype
Industrial
Zoning
M1
Investment Type
Owner/User
Building Details
Year Built
2020
Units
1
Listing Agency:
DAUM Commercial Real Estate Services City of Industry
(562) 692-7876
Listed By:
Kurt Yacko · License #CA 01989353
Source:
Crexi
Added: Mar 13
Changed: Aug 8
Last Checked: Aug 11 at 1:21PM
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 DAUM Commercial Real Estate Services City of Industry
Investment Insights
Based on property information with market context.
Gran Covina Business Park offers industrial condos in a modern business park in Covina, California. The available units total approximately 65,311 square feet, with individual spaces ranging from approximately 2,856 to 4,910 square feet. Each unit features a 22-foot clear height and efficient layouts, suitable for various industrial and light manufacturing uses, with potential for retail functions, pending verification of permitted uses. The property's location provides access to the 10, 210, and 57 freeways, ensuring connectivity to the Greater Los Angeles region. Ownership in this business park offers long-term value in a supply-constrained market with strong demand fundamentals.
Key Highlights
- Modern industrial condos in a high‑image business park.
- Excellent access to the 10, 210, and 57 freeways.
- Units feature 22‑foot clear height.
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
$33,375
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
2.93%
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%
$667,500
$667.5K
Cap Rate 7%
$476,786
$476.8K
Cap Rate 9%
$370,833
$370.8K
Market Conditions
NOI Build-Up for 2,856 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
$50.7K $17.76/SF
− Vacancy
−$3.0K −$1.07/SF
EGI
$47.7K $16.69/SF
− OpEx
−$14.3K −$5.01/SF
NOI
$33.4K $11.69/SF
Area
Los Angeles County, CA
Vacancy
6.00%
Lease Rate
$17.76 /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%
$667,500
Cap Rate 7%
$476,786
Cap Rate 9%
$370,833
Alternative Uses
Best Use
Industrial
$476.8K
$417.2K – $556.3K
NOI $33,375 @ 7.0% cap · market cap 2.93%
Second Best
Flex RnD
$364.2K
$318.7K – $425.0K
NOI $25,497 @ 7.0% cap · market cap 2.24%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,036 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,102
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91723, CA
19,653
Population
6,516
Households
3
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
8,545
Density / Sq Mi
$87,363
Median Household Income
$44,154
Median Earnings
$1,711
Median Rent
$663,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial condos in modern business park with freeway access.
Where is this flex space located?
The property is located at 771 E Edna Pl Covina, CA.
What is the asking price?
The asking price for this property is $1,139,544.
What are key features of this property?
This property features: Modern industrial condos in a high‑image business park.; Excellent access to the 10, 210, and 57 freeways.; Units feature **22‑foot clear height.**
