Covina Medical/Dental Office
For Sale
Contact for pricing
1373 Center Ct Dr, Covina, CA 91724
Medical and dental use allowed, great owner user opportunity.
Property Size32,000 SF
Price / SF$278.13
Days on Market1176
Property Features for 1373 Center Ct Dr
General Information
Standard status
Active
Size
32,000 SF
Class
B
Property subtype
Office
Zoning
CP
Investment Type
Owner/User
Building Details
Year Built
1979
Tenancy
Multi
Listing Agency:
Lee & Associates - Pasadena
(626) 240-2788
Listed By:
Christopher Larimore · License #01314464
Source:
Crexi
Added: Jun 12, 2023
Changed: Aug 8
Last Checked: Aug 29 at 12:18PM
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 Lee & Associates - Pasadena
Investment Insights
Based on property information with market context.
This commercial property in Covina, California, presents a great opportunity for an owner-user, particularly those in the medical or dental fields, as medical and dental uses are explicitly allowed. The property offers a total size of 32000 square feet.
Key Highlights
- Great owner user opportunity
- Medical and dental use allowed
- Built in 1979
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
$699,494
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
7.86%
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%
$13,989,880
$14.0M
Cap Rate 7%
$9,992,771
$10.0M
Cap Rate 9%
$7,772,156
$7.8M
Market Conditions
NOI Build-Up for 32,000 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
$1.23M $38.40/SF
− Vacancy
−$296.1K −$9.25/SF
EGI
$932.7K $29.15/SF
− OpEx
−$233.2K −$7.29/SF
NOI
$699.5K $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%
$13,989,880
Cap Rate 7%
$9,992,771
Cap Rate 9%
$7,772,156
Alternative Uses
Best Use
Office B
$9.99M
$8.74M – $11.66M
NOI $699,494 @ 7.0% cap · market cap 7.86%
Second Best
Healthcare Medical
$8.67M
$7.59M – $10.11M
NOI $606,846 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$17.13M
$14.99M – $19.99M
NOI $1,199,287 @ 7.0% cap · market cap 13.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
602
Businesses Nearby
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical and dental use allowed, great owner user opportunity.
Where is this medical office space located?
The property is located at 1373 Center Ct Dr Covina, CA.
What is the asking price?
The asking price for this property is $8,900,000.
What are key features of this property?
This property features: Great owner user opportunity; Medical and dental use allowed; Built in 1979
