Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    535 2nd Ave Covina, CA 91723-3013

    • Medical offices
    • 15,600 SF
    • 0.86 lot acres
    OFF-MARKET
    Value Estimations
    $555,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8351720
    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.

    Current Use by Public Records

    • Dr. Maribel Gonzalez, MD / Child Psychiatrist
    • Dr. Imtiaz S. Basrai, MD / Doctor
    • Carlos Mauriz, MSW / Social Worker
    • Forough A. Eftekhari, MFTI / Doctor
    • Michael D. Olsen, MA / Doctor

    Property Details for 535 2nd Ave

    Construction
    TILT-UP CONCRETE
    Lot size
    0.86 lot acres
    Property size
    15,600 SF
    Zone code
    CVC3A*
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    8445-029-012
    APU
    8445029012

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $515,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $596,000
      Market price range: $491k - $1.86M

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

    Location Insight

    • Map
    • Local Demand
    City
    Covina
    County
    Los Angeles
    State
    California
    Longitude
    -117.889
    Latitude
    34.0801
    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
    $5,078
    $754,100
    $1,412,488
    $2,166,588
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $380,000
      3,191 SF

      210 College St

      MEDICAL BUILDING • 3,191 SF
      210 College St, Covina, CA 91723-1902
      View Details
    • Value Estimation
      $375,000
      6,830 SF

      550 Badillo St

      MEDICAL BUILDING • 6,830 SF
      550 Badillo St, Covina, CA 91723-2801
      View Details
    • Value Estimation
      $340,000
      5,037 SF

      158 College St

      MEDICAL BUILDING • 5,037 SF
      158 College St, Covina, CA 91723-2064
      View Details
    • Value Estimation
      $375,000
      2,922 SF

      626 2nd Ave

      MEDICAL BUILDING • 2,922 SF
      626 2nd Ave, Covina, CA 91723-3517
      View Details
    • Value Estimation
      $795,000
      40,268 SF

      315 3rd Ave

      MEDICAL BUILDING • 40,268 SF
      315 3rd Ave, Covina, CA 91723-1905
      View Details
    • Value Estimation
      $375,000
      1,365 SF

      261 San Bernardino Rd

      MEDICAL BUILDING • 1,365 SF
      261 San Bernardino Rd, Covina, CA 91723-1516
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,920 SF

      Medical/Dental Suite For Sale

      Medical/Dental suite available, near freeways and Emanent Hospital.
      246 W College St, Covina, CA 91723
      View Details
    • Contact for pricing
      20,744 SF

      Eastland Professional Building For Sale

      Two-story office buildings with recent upgrades and ample parking.
      271-281 E Workman St, Covina, CA 91723
      View Details
    • Contact for pricing
      4,290 SF

      Covina Office Building - Four Suites

      Prime Covina location, four office suites available.
      669 Ave, Covina, CA 91723
      View Details
    • $990,000
      2,976 SF

      Remodeled Freestanding Building For Sale

      Freestanding, remodeled building with office and flex space.
      578-580 E San Bernardino Rd, Covina, CA 91723
      View Details
    • $940,000
      2,800 SF

      Mixed-Use Building with Office/Warehouse

      Mixed-use building suitable for retail, office, or light industrial.
      569 E San Bernardino Rd, Covina, CA 91723
      View Details
    • $2,500,000
      6,748 SF

      Multi-Tenant Building For Sale

      Multi-tenant building suitable for office or retail use.
      228-238 E Rowland St, Covina, CA 91723
      View Details

    Similar Nearby for Lease

    • $1.99 SF/Yr
      22,316 SF

      Professional/Medical Office Space Available

      Move-in ready office space with easy freeway access and ample parking.
      554 East San Bernardino Rd, Covina, CA 91723
      View Details
    • $952 /Mo

      Downtown Covina Office Space Available

      1,632 SF office space in Covina's downtown corridor.
      102 E Badillo 102, Covina, CA 91723
      View Details
    • $1,100 /Mo

      Functional Office Suite in Covina

      Bright office space with reserved parking in a professional complex.
      724 N Barranca Unit B Ave, Covina, CA 91723
      View Details
    • $2,090 /Mo

      Office Suites Near Freeway

      Four office suites available for lease near the ten freeway.
      669 S 2Nd Ave, Covina, CA 91723
      View Details
    • $1.83 SF/Yr
      2 SF

      Covina Office Space Available

      Office space featuring multiple offices, restrooms, reception, and break area.
      259 E Workman St, Covina, CA 91723
      View Details
    • Contact for pricing
      3,360 SF

      Covina Commercial Space For Lease

      Corner lot building, newly renovated, suitable for office or church.
      716 N Citrus Ave, Covina, CA 91723
      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.
    535 2nd Ave
    Covina, CA 91723-3013
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.