Renovated Office Building For
For Sale
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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 Market1259
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: Aug 23
Last Checked: Sep 1 at 11:03PM
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
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 = 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
$308,477
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
6.17%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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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).
