Renovated Office Building For
For Sale
Contact for pricing
1161 Park View Dr, Covina, CA 91724
Newly renovated office building with freeway access and ample parking.
Property Size14,112 SF
Price / SF$354.31
Days on Market1304
Property Features for 1161 Park View Dr
General Information
Standard status
Active
Size
14,112 SF
Class
C
Property subtype
Office
Zoning
CVE5 & PCD
Occupancy
67%
Lease Type
Modified Gross
Investment Type
Owner/User
Building Details
Year Built
1983
Year Renovated
2023
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
CBRE - Ontario
Listed By:
Steven Saunders · License #CA 01932948
(909) 418-2006
Source:
Crexi
Added: Mar 27, 2023
Changed: Oct 10
Last Checked: Oct 19 at 4:34AM
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 CBRE - Ontario
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a 2-story, 14,112 square foot newly renovated office building located in the Village Oaks Office Park, directly off the Interstate 10 Freeway. The first floor suites are contiguous to approximately 5,009 square feet and are fully leased to Paragon Security and Zak Dental. The second floor suite is contiguous to approximately 7,333 square feet. Ample surface parking is available at a ratio of 4 spaces per 1,000 square feet. The location offers excellent freeway access, visibility, and easy access to local retail and restaurants.
Key Highlights
- Newly renovated 14,112 SF office building.
- Excellent freeway access and visibility off Interstate 10.
- Ample surface parking (4/1000).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$308,477
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,169,540
$6.2M
Cap Rate 7%
$4,406,814
$4.4M
Cap Rate 9%
$3,427,522
$3.4M
Market Conditions
NOI Build-Up for 14,112 SF
Gross rent
$541.9K $38.40/SF
− Vacancy
−$130.6K −$9.25/SF
EGI
$411.3K $29.15/SF
− OpEx
−$102.8K −$7.29/SF
NOI
$308.5K $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 Rate 5%
$6,169,540
Cap Rate 7%
$4,406,814
Cap Rate 9%
$3,427,522
Alternative Uses
Best Use
Office B
$4.41M
$3.86M – $5.14M
NOI $308,477 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.56M
$6.61M – $8.81M
NOI $528,886 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
552
Businesses Nearby
Explore this area
Business Placement
Demographics for 91724, CA
27,180
Population
9,372
Households
2.9
Avg Household Size
41
Median Age
36%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
4,384
Density / Sq Mi
$102,129
Median Household Income
$49,276
Median Earnings
$2,056
Median Rent
$722,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Newly renovated office building with freeway access and ample parking.
Where is this office building located?
The property is located at 1161 Park View Dr Covina, CA.
What is the asking price?
The asking price for this property is $4,999,999.
What are key features of this property?
This property features: Newly renovated 14,112 SF office building.; Excellent freeway access and visibility off Interstate 10.; Ample surface parking (4/1000).
