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    1209 Plaza Dr West Covina, CA 91790
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    Property profile & analytics

    1209 Plaza Dr, West Covina, CA 91790

    View on Map
    • Super regional malls
    • 140,366 SF
    • 14.58 lot acres
    For Lease
    $31,900,000
    View Listing →
    Retail Space in West Covina For Lease
    $31,900,000

    Retail Space in West Covina

    Multi-story retail space with freeway visibility in West Covina.

    1209 Plaza Dr, West Covina, CA 91790
    View Listing
    Property ID
    US09-4630856
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cole Vision Corporation / Ophthalmologist / (Bike/Boat/Book/etc) Store
    • Thu a Trang OD / Physician
    • Yuson Lee, OD / Physician
    • Sears Appliance Repair / Home Appliance Store
    • Kiet Bui / Physician

    Property Details for 1209 Plaza Dr

    Year built
    1961
    Lot size
    14.58 lot acres
    Zone code
    WCCR*
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    8474-003-081
    APU
    8474003081

    Description

    This exceptional three-story retail property, located at 1209 Plaza Dr, West Covina, CA 91790, offers a significant opportunity for businesses seeking high-impact space. The Plaza at West Covina shopping center boasts a total of 133,754 square feet, currently entirely vacant and available for lease. The property sits on a substantial 635,105 square foot lot, providing ample space and potential for expansion or outdoor amenities. The building features 1,788 parking spaces, ensuring convenient access for customers and employees. With freeway visibility from Interstate 10, this location offers unparalleled exposure to a large volume of daily traffic. The minimum divisible space is 41,075 square feet, allowing for flexibility in tenant needs, while the entire 133,754 square feet is available for a single large-scale tenant. This multi-story retail center presents a unique chance to establish a prominent presence in a thriving West Covina commercial district. The property's size, visibility, and ample parking make it an ideal location for a variety of retail uses. Serious inquiries are encouraged to explore the possibilities of this prime retail space.

    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
    West Covina
    County
    Los Angeles
    State
    California
    Longitude
    -117.934
    Latitude
    34.0714
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2016
    $0.00
    $19,145,747
    $2,828,347
    $21,974,094
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $42,905,000
      135,586 SF

      112 Plz Dr

      REGIONAL SHOPPING CENTER, MALL
      112 Plz Dr, West Covina, CA 91790-2805
      View Details
    • Value Estimation by Request
      2.35 Acres

      W

      REGIONAL SHOPPING CENTER, MALL
      W, Covina, CA 91790
      View Details
    • Value Estimation
      $10,190,000
      67,000 SF

      W

      REGIONAL SHOPPING CENTER, MALL
      W, Covina, CA 91790
      View Details
    • Value Estimation by Request
      3.01 Acres

      W

      REGIONAL SHOPPING CENTER, MALL
      W, Covina, CA 91790
      View Details
    • Value Estimation by Request
      3.39 Acres

      W

      REGIONAL SHOPPING CENTER, MALL
      W, Covina, CA 91790
      View Details
    • Value Estimation by Request
      1.74 Acres

      W

      REGIONAL SHOPPING CENTER, MALL
      W, Covina, CA 91790
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,865 SF

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      New Retail/Restaurant Space Available

      First generation retail/restaurant space in Downtown West Covina.
      301 S Glendora Ave, West Covina, CA 91790
      View Details
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      Pending

      West Covina Net Leased Property

      Single-tenant property with a nationally recognized tenant in West Covina.
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      West Covina Multifamily Investment Opportunity

      Stabilized 11-unit multifamily property in a prime West Covina location.
      149 S Bandy Ave, West Covina, CA 91790
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      New Retail/Restaurant Space Available

      First generation retail/restaurant space in Downtown West Covina.
      301 S Glendora Ave, West Covina, CA 91790
      View Details
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      Retail Space in West Covina

      Multi-story retail space with freeway visibility in West Covina.
      1209 Plaza Dr, West Covina, CA 91790
      View Details
    • Contact for pricing
      41,075 SF

      West Covina Retail Space Available

      Second floor retail space available for lease in West Covina.
      1111-1209 Plaza Dr, West Covina, CA 91790
      View Details
    • Contact for pricing

      Class A Office Space Available

      High-image Class A office space for rent in West Covina.
      1050 Lakes Dr, West Covina, CA 91790
      View Details
    View Listing
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    West Covina, CA 91790
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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.

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