Myrtle Ave Ave Monrovia, CA 91016
- Retail properties
- 4,180 SF
- 0.17 lot acres
Current Use by Public Records
- Retail properties
Property Details for Myrtle Ave Ave
- Year built
- 1928
- Lot size
- 0.17 lot acres
- Property size
- 4,180 SF
- Property type
- Retail properties
Description
This exceptional freestanding retail building in Monrovia, CA, presents a unique investment opportunity. Boasting a total of 4,180 square feet across two separate units, this property is ideally situated on a high-traffic retail street, surrounded by national tenants including Bank of America, Citibank, Vons Pavilions, and Chase Bank. The building benefits from excellent visibility and signage opportunities on both sides. Each unit features both front and back entrances, and all utilities are separately metered. Suite 218, currently leased to a franchise pet shop, generates income at $3.80 per square foot per month, with annual rent increases of 5%, providing a hedge against inflation. Suite 220 is perfect for owner-occupancy, offering high ceilings, a professional reception area, meeting room, large conference room with skylight, expansive sales floor, two private executive offices, kitchen, storage room, and bathroom. Ample parking is available both in the rear of the building and in nearby city lots. The building has undergone earthquake retrofitting, ensuring structural integrity. This property is situated on a 0.17-acre lot in a high-density area with limited developable land, making it a rare find. The vibrant Monrovia community hosts numerous events throughout the year, including a weekly Friday street fair, driving consistent foot traffic. This is a truly remarkable opportunity to own a prime retail property, offering both immediate passive income and the potential for owner-occupancy.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Monrovia
- County
- Los Angeles
- State
- California
- Longitude
- -118.001
- Latitude
- 34.1411
