501 S Myrtle Ave Monrovia, CA 91016

This exceptional mixed-use property in Old Town Monrovia presents a rare investment opportunity. The two-story building, encompassing 17,691 square feet on a 0.15-acre lot at the signalized intersection of Myrtle and Lemon Avenues, offers a blend of retail and office spaces. The first floor features two retail spaces, while the second floor and usable basement provide executive office suites, many currently leased month-to-month at below-market rates, presenting significant upside potential for rental income. The building boasts modern upgrades including newer flooring and storefront improvements. Internal features include fire sprinklers, six common area restrooms, three private restrooms, two kitchens, and two janitor closets. The property's 39 tenants occupy 6,174 square feet on the first floor, 5,548 square feet on the second floor, and 5,969 square feet in the basement. Its strategic location in the heart of Old Town Monrovia, a thriving pedestrian-oriented shopping destination with numerous restaurants and retail establishments, benefits from high-density residential surroundings, including the nearby Colorado Commons. Proximity to the 210 and 605 freeways, the Monrovia Gold Line station (approximately one mile), Santa Anita Race Track, and Westfield Mall further enhances its appeal. Zoned HCD-Historic Commercial Downtown, this property offers an investor the chance to capitalize on current market conditions or an owner-user the chance to occupy prime office space.