Medical/Office Condo in
For Sale
Contact for pricing
320-330 S Garfield Ave Suite 102, Alhambra, CA 91801
Medical/office condo near hospitals with SBA financing potential.
Property Size1,664 SF
Price / SF$498.80
Days on Market817
Property Features for 320-330 S Garfield Ave Suite 102
General Information
Standard status
Active
Size
1,664 SF
Class
B
Total Parking Spaces
256
Property subtype
Office
Investment Type
Owner/User
Building Details
Year Built
1988
Buildings
2
Stories
3
Listing Agency:
SVN | Rich Investment Real Estate Partners Los Angeles
Listed By:
Michael Chang · License #CA 01880895
(626) 688-8864
Source:
Crexi
Added: Jun 8, 2024
Changed: Sep 2
Last Checked: Sep 2 at 5:10PM
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 SVN | Rich Investment Real Estate Partners Los Angeles
Investment Insights
Based on property information with market context.
This medical/office condominium is located in The Garfield Center, which features two elevators and three levels of parking with 256 spaces. Its strategic location near three major hospitals makes it ideal for medical businesses. New owners may be able to capitalize on up to 90% SBA financing. The property is located in Alhambra, an area known for diverse dining options, including Asian cuisine and trendy cafes. The Alhambra Place Shopping Center and the historic Garfield Theatre are nearby. The location provides convenient access for employees and clients, with proximity to major freeways, public transportation, and hospitals. The property is professionally managed, with Owners Association dues of $8.58 PSF/Year. This 1664 square foot condominium offers an investment opportunity in the Office/Medical sector.
Key Highlights
- Strategic location near three major hospitals, ideal for medical businesses.
- Up to 90% SBA financing available.
- Low Owners Association dues of $8.58 PSF/Year.
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
$36,374
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
4.38%
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%
$727,480
$727.5K
Cap Rate 7%
$519,629
$519.6K
Cap Rate 9%
$404,156
$404.2K
Market Conditions
NOI Build-Up for 1,664 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
$63.9K $38.40/SF
− Vacancy
−$15.4K −$9.25/SF
EGI
$48.5K $29.15/SF
− OpEx
−$12.1K −$7.29/SF
NOI
$36.4K $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%
$727,480
Cap Rate 7%
$519,629
Cap Rate 9%
$404,156
Alternative Uses
Best Use
Office B
$519.6K
$454.7K – $606.2K
NOI $36,374 @ 7.0% cap · market cap 4.38%
Second Best
Healthcare Medical
$450.8K
$394.5K – $525.9K
NOI $31,556 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$890.9K
$779.5K – $1.04M
NOI $62,363 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,866
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91801, CA
53,669
Population
21,702
Households
2.5
Avg Household Size
41
Median Age
41%
College-Educated
85%
High-School Grad
4.3 sq mi
ZIP Area
12,481
Density / Sq Mi
$85,549
Median Household Income
$47,855
Median Earnings
$1,879
Median Rent
$797,000
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?
Medical Office Space - Medical/office condo near hospitals with SBA financing potential.
Where is this medical office space located?
The property is located at 320-330 S Garfield Ave Suite 102 Alhambra, CA.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: Strategic location near three major hospitals, ideal for medical businesses.; Up to 90% SBA financing available.; Low Owners Association dues of $8.58 PSF/Year.
