Freestanding Net-Leased Pharmacy
837 West Arrow Highway, Covina, CA 91722
For Sale
Contact for pricing
Freestanding flex R&D property in a single-tenant net lease, supported by ample parking and freeway access.
Property Size9,600 SF
Lot Size0.77 Acres
Price / SF$389.38
Days on Market151
Property Features for 837 West Arrow Highway
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Occupancy
Lease Type
Investment Type
Net Operating Income
Site & Location
Highway Access
Road Access
Additional Details
Business Included
Building Details
Year Built
Year Renovated
Buildings
Tenancy
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Ara Rostamian · License #CA 01814678
(213) 943-1781
Source:
Crexi
Added: Jun 11
Changed: Nov 6
Last Checked: Nov 6 at 5:50AM
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 Marcus & Millichap - Los Angeles
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Investment Insights
Based on property information with market context.
Offered for sale is a single-tenant, net-leased Polaris Pharmacy property featuring a freestanding ±9,600-square-foot flex R&D building on approximately 10.77 acres. The facility is configured to be functional and adaptable, with a layout that can support a range of commercial applications. The net lease is currently in place with Polaris Pharmacy Services, and the lease includes approximately two years of remaining term. Rental payments also include 4% annual increases, aligning lease economics with periodic growth.
The property is located at 837 West Arrow Highway in Covina, California, positioned along the Arrow Highway corridor in the San Gabriel Valley. Tenant and visitor access is supported by 24 surface parking spaces. Regional connectivity is aided by convenient access to I-10, SR-57, and I-210, supporting distribution and operational reach across Los Angeles County and the Inland Empire.
For buyers and operators seeking a healthcare-aligned real estate profile, the property’s existing pharmacy tenancy and flexible-use building configuration may fit healthcare, laboratory, office, flex industrial, and specialty commercial operations, subject to applicable requirements. The combination of a single-tenant net lease, a freestanding flex R&D structure, and on-site parking can appeal to investors looking for straightforward operational control within a long-term care and specialty pharmacy framework.
The property is located at 837 West Arrow Highway in Covina, California, positioned along the Arrow Highway corridor in the San Gabriel Valley. Tenant and visitor access is supported by 24 surface parking spaces. Regional connectivity is aided by convenient access to I-10, SR-57, and I-210, supporting distribution and operational reach across Los Angeles County and the Inland Empire.
For buyers and operators seeking a healthcare-aligned real estate profile, the property’s existing pharmacy tenancy and flexible-use building configuration may fit healthcare, laboratory, office, flex industrial, and specialty commercial operations, subject to applicable requirements. The combination of a single-tenant net lease, a freestanding flex R&D structure, and on-site parking can appeal to investors looking for straightforward operational control within a long-term care and specialty pharmacy framework.
Key Highlights
- Single‑tenant, net‑leased Polaris Pharmacy property at 837 W Arrow Highway in Glendora, CA
- Freestanding ±19,600 SF flex R&D building on approx. 0.77 acres; built in 1982
- Lease to Polaris Pharmacy Services with approx. two years remaining term and 4% annual rental increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$227,567
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,551,340
$4.6M
Cap Rate 7%
$3,250,957
$3.3M
Cap Rate 9%
$2,528,522
$2.5M
Market Conditions
NOI Build-Up for 9,600 SF
Gross rent
$324.9K $33.84/SF
− Vacancy
−$21.4K −$2.23/SF
EGI
$303.4K $31.61/SF
− OpEx
−$75.9K −$7.90/SF
NOI
$227.6K $23.70/SF
Area
Los Angeles County, CA
Vacancy
6.60%
Lease Rate
$33.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,551,340
Cap Rate 7%
$3,250,957
Cap Rate 9%
$2,528,522
Alternative Uses
Best Use
Specialty Retail
$3.25M
$2.84M – $3.79M
NOI $227,567 @ 7.0% cap · market cap 6.09%
Second Best
Retail
$3.03M
$2.65M – $3.54M
NOI $212,396 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$5.14M
$4.50M – $6.00M
NOI $359,786 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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See the owner, sales and loan history
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
757
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 91722, CA
36,111
Population
10,340
Households
3.5
Avg Household Size
38
Median Age
23%
College-Educated
82%
High-School Grad
4.1 sq mi
ZIP Area
8,808
Density / Sq Mi
$98,033
Median Household Income
$39,738
Median Earnings
$2,039
Median Rent
$626,100
Median Home Value
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Market
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- Unik beauty salon nails and spa — Grand Ave, Covina, CA 91724
- Natural Amor — 740C Arrow Hwy, Covina, CA 91722
- VITAS Healthcare — 1343 N Grand Ave Suite 100, Covina, CA 91724
- VITAS Palliative Care — 1343 N Grand Ave Ste 206, Covina, CA 91724
- Polaris Pharmacy Services LTC — 760 Arrow Grand Cir, Covina, CA 91722
Frequently Asked Questions
What type of property is this?
Drug store - Freestanding flex R&D property in a single-tenant net lease, supported by ample parking and freeway access.
Where is this drug store located?
The property is located at 837 West Arrow Highway Covina, CA.
What is the asking price?
The asking price for this property is $3,738,010.
What are key features of this property?
This property features: Single‑tenant, net‑leased Polaris Pharmacy property at 837 W Arrow Highway in Glendora, CA; Freestanding ±19,600 SF flex R&D building on approx. 0.77 acres; built in 1982; Lease to Polaris Pharmacy Services with approx. two years remaining term and 4% annual rental increases
