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    648 Grand Ave Covina, CA 91724-2413
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    648 Grand Ave Covina, CA 91724-2413

    View on Map
    • Manufacturing properties
    • 4,028 SF
    • 0.44 lot acres
    Off-Market
    Property ID
    US09-8335782
    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
    $605,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • C.K Mercedes / Auto Repair Shop

    Property Details for 648 Grand Ave

    Year built
    1983
    Construction
    TILT-UP CONCRETE
    Lot size
    0.44 lot acres
    Property size
    4,028 SF
    Zone code
    CVM1*
    Property type
    Manufacturing properties
    APN
    8428-022-013
    APU
    8428022013

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $785,000
      6.5%
      $725,000
      7%
      $670,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $840,000
      Current use
      RETAIL STORES
      $925,000
      Change: +10% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Covina
    County
    Los Angeles
    State
    California
    Longitude
    -117.872
    Latitude
    34.0925
    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
    $7,527
    $243,731
    $279,523
    $523,254
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation
      $1,075,000
      7,508 SF

      1162 Edna Pl

      MANUFACTURING (LIGHT) • 7,508 SF
      1162 Edna Pl, Covina, CA 91724-2507
      View Details
    • Value Estimation
      $1,075,000
      10,629 SF

      1053 Edna Pl

      MANUFACTURING (LIGHT) • 10,629 SF
      1053 Edna Pl, Covina, CA 91724-2412
      View Details
    • Value Estimation
      $1,615,000
      13,600 SF

      1254 Cypress St

      MANUFACTURING (LIGHT) • 13,600 SF
      1254 Cypress St, Covina, CA 91724
      View Details
    • Value Estimation
      $2,535,000
      14,010 SF

      1204 Cypress St

      MANUFACTURING (LIGHT) • 14,010 SF
      1204 Cypress St, Covina, CA 91724-2101
      View Details
    • Value Estimation
      $960,000
      9,240 SF

      800 Dodsworth Ave

      MANUFACTURING (LIGHT) • 9,240 SF
      800 Dodsworth Ave, Covina, CA 91724-2409
      View Details

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    • Contact for pricing
      1,000.00 Acres

      Covina Cemetery Plot for Sale

      Cemetery plot in Forest Lawn- Covina Hills, priced to sell.
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      Covina Hills Land Plot

      Land plot in Forest Lawn - Covina Hills.
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      Covina Land Lot For Sale

      Flat, usable land in Covina, CA, with gated entry.
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    • Contact for pricing
      14,112 SF

      Renovated Office Building For Sale

      Newly renovated office building with freeway access and ample parking.
      1161 Park View Dr, Covina, CA 91724
      View Details
    • $600,000
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      Residential Lot in Covina

      Buildable .44-acre lot in a sought-after Covina neighborhood.
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    Similar Nearby for Lease

    • $1.30 SF/Yr
      9,400 SF

      Industrial Storage Space Available

      3,000 SF warehouse space for storage in Covina.
      1238-1254 E Cypress St, Covina, CA 91724
      View Details
    • $2 SF/Yr

      Covina Professional Building For Sale

      Professional building with medical and dental use allowance, great access.
      1373 Center Court Dr, Covina, CA 91724
      View Details
    • Contact for pricing
      8,035 SF

      Single Story Office Space Available

      Single-story office space for rent with negotiable modifications.
      1325 N Grand Ave, Covina, CA 91724
      View Details
    • $1.75 SF/Yr

      Covina Office Space Available

      Office space with multiple offices, breakroom, and conference room.
      1126 N Grand Ave, Covina, CA 91724
      View Details
    • $1.85 SF/Yr
      1,215 SF

      Office Suite with Open Bullpen

      Second floor office suite featuring offices, bullpen, and breakroom.
      1270 E Garvey St, Covina, CA 91724
      View Details
    • Contact for pricing
      3,402 SF

      First Floor Office Space Available

      First floor office space with parking and flexible zoning.
      1411 N Grand Ave, Covina, CA 91724
      View Details
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    648 Grand Ave
    Covina, CA 91724-2413
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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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