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    103 Lemon Ave Monrovia, CA 91016

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    For Lease
    Contact for pricing

    Prime Old Town location, 2 suites available

    Lot size:
    13,900 SF

    Property Features for 103 Lemon Ave

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    13,900 SF

    Building Details

    Year Built
    1913
    Stories
    2

    Spaces For Lease

    at 103 Lemon Ave, Monrovia, CA 91016 Contact us

    We can help!

    Listing Contact
    Dan Bacani
    Dan Bacani

    Listing Agency: Lee & Associates Listing Agent: Dan Bacani

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This charming 13,900 square foot, two-story office building at 103 E Lemon Avenue in Monrovia, CA 91016, offers a unique opportunity for businesses seeking a presence in the heart of Old Town. Built in 1913, this traditional office building boasts 14-foot ceilings and features multiple tenancies. Currently, two suites are available, ranging from 125 to 250 square feet, ideal for small businesses or those looking to downsize. The building sits on a 7,989 square foot lot and is conveniently located near Studio Movie Grill and numerous shops and restaurants. Free parking is available nearby, both covered and uncovered. The City of Monrovia's recent implementation of the GoMonrovia multi-modal transportation program, including discounted ride-sharing and bike-share options, enhances accessibility and convenience for employees and clients. This property presents a rare chance to establish a business in a vibrant, walkable community with excellent amenities and transportation options. The building's history and character provide a unique and attractive setting for any business. The available suites offer a flexible and efficient workspace in a highly desirable location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sgvapartments.Com Inc Apartment Building Justice Law Partners ... Law Firm Nikkie M. Rodriguez, ... Physician Precise Printing Enterprises (Bike/Boat/Book/etc) Store Carla Michelle Coaching ... Consultant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monrovia
    County
    Los Angeles
    State
    California
    Longitude
    -118.00064072
    Latitude
    34.14808113

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    FAQs

    What type of property is this?
    Office property - Prime Old Town location, 2 suites available
    Where is this office property located?
    The property is located at 103 Lemon Ave Monrovia, CA.
    What are key features of this property?
    This property features: 13,900 SF two-story office building in Monrovia, CA.; Two suites available, 125-250 SF each.; 14-foot ceilings and hardwood floors.
    (626) 242-7790 Call to check price and availability
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    103 Lemon Ave Monrovia, CA 91016
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    Contact for Pricing
    Please call us for current price
    and status of this listing Dan Bacani
    Dan Bacani
    Real Estate License ID: 01385413
    (626) 242-7790 (626) 535-9888 (626) 240-2781
    Learn more
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