Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    103 Lemon Ave Monrovia, CA 91016
    Property profile & analytics

    103 Lemon Ave Monrovia, CA 91016

    View on Map
    • Office Spaces
    • 13,900 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sgvapartments.Com Inc / Apartment Building
    • Justice Law Partners Inc / Law Firm
    • Nikkie M. Rodriguez, Psy.D. / Physician / Medical Clinic
    • Precise Printing Enterprises / (Bike/Boat/Book/etc) Store / Printing Service
    • Carla Michelle Coaching & Consulting / Consultant / Service Establishment

    Property Details for 103 Lemon Ave

    Year built
    1913
    Property size
    13,900 SF
    Property type
    Office Spaces

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Monrovia
    County
    Los Angeles
    State
    California
    Longitude
    -118.001
    Latitude
    34.1481

    Comparable in this City

    • Value Estimation by Request
      2,050 SF

      419 Ave

      Office Spaces • 2,050 SF
      419 Ave, Monrovia, CA 91016
      View Details
    • Value Estimation by Request
      2,728 SF

      517 Ivy Ave

      Office Spaces • 2,728 SF
      517 Ivy Ave, Monrovia, CA 91016
      View Details
    • Value Estimation
      $6,480,000
      35,512 SF

      404 Huntington Dr

      OFFICE BUILDING • 35,512 SF
      404 Huntington Dr, Monrovia, CA 91016-3731
      View Details
    • Value Estimation
      $2,620,000
      14,300 SF

      100 Huntington Dr

      OFFICE BUILDING • 14,300 SF
      100 Huntington Dr, Monrovia, CA 91016-3458
      View Details
    • Value Estimation
      $10,860,000
      53,954 SF

      181 Huntington Dr

      OFFICE BUILDING (MULTI-STORY) • 53,954 SF
      181 Huntington Dr, Monrovia, CA 91016-3456
      View Details
    • Value Estimation
      $3,000,000
      16,991 SF

      110 Huntington Dr

      OFFICE BUILDING • 16,991 SF
      110 Huntington Dr, Monrovia, CA 91016-3415
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Renovated Monrovia Commercial Property

      27,600 SF Class A property in Downtown Monrovia.
      324-328 S Myrtle Ave, Monrovia, CA 91016
      View Details
    • $3,900,000
      17,691 SF

      Monrovia Mixed-Use Building For Sale

      Two-story mixed-use building in Old Town Monrovia with retail and offices.
      501 S Myrtle Ave, Monrovia, CA 91016
      View Details
    • $2,688,000
      3,154 SF

      Mills Act Designated Commercial Property

      Historical gem with potential property tax reduction in West San Gabriel.
      805 S Shamrock Ave, Monrovia, CA 91016
      View Details
    • Contact for pricing

      Professional Office Near 210 Freeway

      Professional office space with easy freeway access and functional layout.
      790 W Chestnut Ave, Monrovia, CA 91016
      View Details
    • Contact for pricing
      4,400 SF

      Freestanding Industrial Building in Monrovia

      Versatile industrial space ideal for various business operations.
      915 S Alta Vista Ave, Monrovia, CA 91016
      View Details
    • Contact for pricing

      Monrovia Mixed-Use Office Opportunity

      Office space in Old Town Monrovia near amenities and transportation.
      103 E Lemon Ave, Monrovia, CA 91016
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Flex Building For Rent

      Flex building with high ceilings, loading doors, and parking.
      904 S Alta Vista Ave, Monrovia, CA 91016
      View Details
    • Contact for pricing
      1,600 SF

      Office and Warehouse Space Available

      Multi-tenant building with office and warehouse space for rent.
      1943-1951 S Myrtle Ave, Monrovia, CA 91016
      View Details
    • $1.85 SF/Yr
      2,471 SF

      Arcadia Professional Office Space

      Professional office space available for lease in Arcadia.
      1001 W Foothill Blvd, Monrovia, CA 91016
      View Details
    • Contact for pricing

      Rancho Cucamonga Warehouse Space

      Warehouse space with office, close to freeways.
      11650 Mission Park Dr, Rancho Cucamonga, CA 91016
      View Details
    • $3 SF/Yr
      355 SF

      Monrovia Office Space Available

      Second floor office space available for rent in Monrovia.
      430 S Myrtle Ave, Monrovia, CA 91016
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    103 Lemon Ave
    Monrovia, CA 91016
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    103 Lemon Ave, Monrovia, CA, 91016
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!