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    650 2nd Ave Covina, CA 91723-3517
    Property profile & analytics

    650 2nd Ave, Covina, CA 91723-3517

    View on Map
    • Retail space
    • 2,552 SF
    • 0.13 lot acres
    Off-Market
    Last Sale Mar 18, 2021
    $855,000
    Property ID
    US09-8377289
    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
    $860,000
    Show details
    Cap Rate Potential
    6.6%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 650 2nd Ave

    Year built
    1957
    Construction
    WOOD
    Lot size
    0.13 lot acres
    Zone code
    CVCP
    Property type
    Retail space
    APN
    8451-003-013
    APU
    8451003013

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 18, 2021 — Matrix Document Imaging INC Matrix Document Imaging INC Intrafamily Transfer · related $364k · The Mortgage Capital Development Co
    Dec 2, 2020 $855,000 Matrix Document Imaging INC Donald C Kuehnert Grant Deed $439k · Sunwest Bank
    Nov 6, 1989 — Donald Kuehnert — Deed Of Trust · related —
    — — Donald Kuehnert — Deed Of Trust · related $24k · Chino Valley Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $855,000
      ML approach
      $870,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $940,000
      6.5%
      $870,000
      7%
      $805,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $730,000
      Market price range: $387k - $731k
      AI Estimate
      $587,000
      Market price range: $159k - $587k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $585,000
      Current use
      AUTO REPAIR, GARAGE
      $1,180,000
      Change: +101% Conversion: Difficult
      MEDICAL BUILDING
      $1,160,000
      Change: +98% Conversion: Difficult
      OFFICE BUILDING
      $840,000
      Change: +43% Conversion: Easy
      COMMERCIAL (GENERAL)
      $790,000
      Change: +35% Conversion: Easy
      WAREHOUSE, STORAGE
      $750,000
      Change: +28% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Covina
    County
    Los Angeles
    State
    California
    Longitude
    -117.887
    Latitude
    34.0778
    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
    $11,346
    $695,091
    $220,200
    $915,291
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,280 SF

      132 Shoppers Ln

      RETAIL STORES (PERSONAL SERVICES)
      132 Shoppers Ln, Covina, CA 91723-3535
      View Details
    • Value Estimation
      $780,000
      2,832 SF

      118 Badillo St

      RETAIL STORES (PERSONAL SERVICES)
      118 Badillo St, Covina, CA 91723-2015
      View Details
    • Value Estimation
      $1,430,000
      5,000 SF

      230 Citrus Ave

      RETAIL STORES (PERSONAL SERVICES)
      230 Citrus Ave, Covina, CA 91723-2003
      View Details
    • Value Estimation by Request
      2,120 SF

      156 Shoppers Ln

      RETAIL STORES (PERSONAL SERVICES)
      156 Shoppers Ln, Covina, CA 91723-3535
      View Details
    • Value Estimation by Request
      1,514 SF

      112 Italia St

      RETAIL STORES (PERSONAL SERVICES)
      112 Italia St, Covina, CA 91723-2108
      View Details
    • Value Estimation
      $685,000
      3,138 SF

      403 San Bernardino Rd

      RETAIL STORES (PERSONAL SERVICES)
      403 San Bernardino Rd, Covina, CA 91723-1705
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      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
    • Contact for pricing
      2,856 SF

      Industrial Condos in Covina Business Park

      Industrial condos in modern business park with freeway access.
      771 E Edna Pl, Covina, CA 91723
      View Details
    • Contact for pricing
      16,773 SF

      Multi-Tenant Investment Portfolio For Sale

      Multi-tenant property with auto repair and warehouse/retail tenants.
      710-724 E San Bernardino Rd, Covina, CA 91723
      View Details
    • Contact for pricing

      Two Houses on R3 Lot

      Two single-family houses on one lot, ideal for development.
      231 E Dexter St, Covina, CA 91723
      View Details
    • $7,280,000

      Garden-Style Multifamily Apartment Community

      Twenty-four-unit apartment community featuring central HVAC, on-site laundry, and a community swimming pool.
      826 N Barranca Ave, Covina, CA 91723
      View Details
    • Contact for pricing
      7,419 SF

      Covina Mixed-Use/Industrial Property For Sale

      Mixed-use/industrial property with street frontage and convenient freeway access.
      723 E San Bernardino Rd, Covina, CA 91723
      View Details

    Similar Nearby for Lease

    • $2.00 SF/Yr

      Prime Retail Space in Covina

      Highly visible retail space with modern design and ample parking.
      139 E Badillo St, Covina, CA 91723
      View Details
    • $1,400 /Mo

      Covina Retail/Office Space Available

      Retail/office space in Covina with easy freeway access.
      336 E Rowland St, Covina, CA 91723
      View Details
    • $6,400 /Mo

      Covina Office/Retail Stand Alone Building

      2,340 SF office/retail building in Covina's Shoppers Lane.
      650 Shoppers Ln, Covina, CA 91723
      View Details
    • $6,400 /Mo
      2,340 SF

      Covina Office Space For Lease

      2,340 square foot office space in Covina's Shoppers Lane.
      650 Shoppers Ln, Covina, CA 91723
      View Details
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    650 2nd Ave
    Covina, CA 91723-3517
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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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