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    324 Myrtle Ave Monrovia, CA 91016-2849
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    Property profile & analytics

    324 Myrtle Ave, Monrovia, CA 91016-2849

    View on Map
    • Retail space
    • 25,523 SF
    • 0.32 lot acres
    Off-Market
    Last Sale Dec 8, 2023
    $3,200,000
    Property ID
    US09-9270138
    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
    $3,250,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ABC Auto (Drive Test) / Auto Repair Shop
    • Jacen Crehan, Realtor, Property Preparation Expert, Seven Gables Real Estate / Real Estate Agency

    Property Details for 324 Myrtle Ave

    Year built
    1956
    Construction
    TILT-UP CONCRETE
    Lot size
    0.32 lot acres
    Zone code
    MOCD*
    Property type
    Retail space
    APN
    8516-012-905
    APU
    8516012905

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 8, 2023 — City Of Monrovia Monrovia Old Town Office Retail Mot Intrafamily Transfer · related —
    Feb 22, 2019 — Monrovia Olt Town Office Retail (mo Monrovia Olt Town Office Retail (mo Grant Deed · related $5.9M · City National Bank
    Jul 21, 2017 — 40 E Verdugo LLC — Trustees Deed · related $1.3M · Bank Of The West
    Oct 7, 2016 — 40 E Verdugo LLC — Deed · related $1.9M · Bank Of The West
    Sep 30, 2016 $3,200,000 40 E Verdugo LLC Sjt Sports Entertainment Corp Grant Deed $1.9M · Bank Of The West
    Oct 15, 1993 — Sjt Sport Entertainment Corp Ho,jung K & Ming Grant Deed · related —
    Feb 1, 1993 $675,000 Jung K Ho First Fidelity Grant Deed $574k · Seller
    Apr 3, 1992 $169,089 Fidelity T First Stein,paul Trustees Deed · related —
    Mar 15, 1988 — Paul Stein — Deed Of Trust · related —
    — — J T Sports Entertainme S — Deed Of Trust · related $605k · Us Bank NA
    — — 40 E Verdugo LLC — Deed Of Trust · related $1.9M · Bank Of The West
    — — Paul Stein — Deed Of Trust · related $150k · First Fidelity Thrift & Loan

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,240,000
      ML approach
      $3,365,000

    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
    34.1485
    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
    2024
    $51,211
    $2,048,091
    $1,592,959
    $3,641,050
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,379 SF

      941 Foothill Blvd

      RETAIL STORES (PERSONAL SERVICES)
      941 Foothill Blvd, Monrovia, CA 91016-1937
      View Details
    • Value Estimation
      $1,410,000
      4,683 SF

      746 Huntington Dr

      RETAIL STORES (PERSONAL SERVICES)
      746 Huntington Dr, Monrovia, CA 91016-3614
      View Details
    • Value Estimation
      $1,035,000
      4,336 SF

      625 Myrtle Ave

      RETAIL STORES (PERSONAL SERVICES)
      625 Myrtle Ave, Monrovia, CA 91016-3405
      View Details
    • Value Estimation
      $740,000
      2,600 SF

      415 Myrtle Ave

      RETAIL STORES (PERSONAL SERVICES)
      415 Myrtle Ave, Monrovia, CA 91016-3864
      View Details
    • Value Estimation
      $1,195,000
      6,720 SF

      102 Colorado Blvd

      RETAIL STORES (PERSONAL SERVICES)
      102 Colorado Blvd, Monrovia, CA 91016
      View Details
    • Value Estimation by Request
      1,335 SF

      112 Lemon Ave

      RETAIL STORES (PERSONAL SERVICES)
      112 Lemon Ave, Monrovia, CA 91016-6131
      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
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    • Contact for pricing
      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
    • $2,250,000
      3,388 SF

      Commercial Building in Monrovia, CA

      Commercial building with potential for owner-user or investor.
      340 W Foothill Blvd, Monrovia, CA 91016
      View Details
    • $2,580,000
      4,180 SF

      Monrovia Retail Investment Opportunity

      High-traffic retail building, two units, great location.
      Myrtle Ave Ave, Monrovia, CA 91016
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,091 SF

      Old Town Monrovia Retail Space

      Prime retail/restaurant space in Old Town Monrovia.
      535 S Myrtle Ave, Monrovia, CA 91016
      View Details
    • Contact for pricing
      2,250 SF

      Retail Space in Ross Anchored Center

      Retail space available in a Ross-anchored shopping center.
      1601-1609 S Mountain Ave, Monrovia, CA 91016
      View Details
    • Contact for pricing
      3,877 SF

      Monrovia Commercial Center Office Space

      Commercial center with parking, improved office space, and amenities.
      806 E Huntington Dr, Monrovia, CA 91016
      View Details
    • Contact for pricing
      3,250 SF

      Retail End Cap Opportunity

      High-profile retail space suitable for medical, restaurant, or service retail.
      242-252 W Foothill Blvd, Monrovia, CA 91016
      View Details
    • Contact for pricing

      Retail Space on Huntington Drive

      Retail space available for lease in Monrovia, California.
      723-739 E Huntington Dr, Monrovia, CA 91016
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space For Lease

      Second generation nail salon space available for lease.
      929-943 W Huntington Dr, Monrovia, CA 91016
      View Details
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    Monrovia, CA 91016-2849
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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
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