Alhambra Retail & Office
For Sale
Contact for pricing
37 E Main St, Alhambra, CA 91801
Two-story property with retail and office space in Alhambra, CA.
Property Size10,600 SF
Price / SF$283.02
Days on Market1099
Property Features for 37 E Main St
General Information
Standard status
Active
Size
10,600 SF
Property subtype
Retail
Zoning
ALCBD/DRD*
Lease Type
NNN
Building Details
Year Built
1923
Buildings
1
Stories
1
Listing Agency:
GE Property Development Inc.
Listed By:
Raymond Ho · License #CA01868322
(626) 458-9000
Source:
Crexi
Added: Sep 15, 2023
Changed: Sep 15
Last Checked: Sep 16 at 2:40PM
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 GE Property Development Inc.
Investment Insights
Based on property information with market context.
Located in downtown Alhambra, this two-story property at 37-41 E Main St offers retail and office spaces suitable for various business setups. The ground floor provides 5,300 square feet of retail space, ideal for establishing a thriving retail business. It includes a single bathroom and offers an open layout for customization. The second floor also offers 5,300 square feet of office space, featuring 10 individual offices and 5 bathrooms, making it suitable for a corporate office, medical facility, or creative studio. The property is situated near the intersection of Main St and Garfield Ave, next to Edwards Movie Theater, and benefits from a dynamic neighborhood with restaurants, shops, and entertainment options that attract a younger demographic. Abundant city-provided parking is available, including a city parking lot behind the property and two public parking structures located behind Main St & Stoneman Ave and Main St & Chapel Ave. The ground floor is suitable for establishing a retail hub, while the second floor can be used for shared office spaces or medical offices.
Key Highlights
- Prime Downtown Alhambra Location on E Main St near Garfield Ave and Edwards Movie Theater.
- Expansive Space: 10,600 SF across two stories, with 5,300 SF per floor.
- Versatile Use: Ground floor ideal for retail, second floor suitable for office, medical, or creative studio.
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
$214,650
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
7.16%
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%
$4,293,000
$4.3M
Cap Rate 7%
$3,066,429
$3.1M
Cap Rate 9%
$2,385,000
$2.4M
Market Conditions
NOI Build-Up for 10,600 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
$381.6K $36.00/SF
− Vacancy
−$38.2K −$3.60/SF
EGI
$343.4K $32.40/SF
− OpEx
−$128.8K −$12.15/SF
NOI
$214.7K $20.25/SF
Area
Los Angeles County, CA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$4,293,000
Cap Rate 7%
$3,066,429
Cap Rate 9%
$2,385,000
Alternative Uses
Best Use
Mixed Use
$3.07M
$2.68M – $3.58M
NOI $214,650 @ 7.0% cap · market cap 7.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.68M
$4.97M – $6.62M
NOI $397,264 @ 7.0% cap · market cap 13.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,925
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story property with retail and office space in Alhambra, CA.
Where is this mixed-use property located?
The property is located at 37 E Main St Alhambra, CA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Prime Downtown Alhambra Location on E Main St near Garfield Ave and Edwards Movie Theater.; Expansive Space: 10,600 SF across two stories, with 5,300 SF per floor.; Versatile Use: Ground floor ideal for retail, second floor suitable for office, medical, or creative studio.
