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    650 Shoppers Ln Covina, CA 91723
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    Property profile & analytics

    650 Shoppers Ln, Covina, CA 91723

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    • Community centers
    • 2,340 SF
    • 0.08 lot acres
    For Lease
    $6,400/Mo
    View Listing →
    Covina Office Space For Lease For Lease
    $6,400/Mo
    2,340 SF

    Covina Office Space For Lease

    2,340 square foot office space in Covina's Shoppers Lane.

    650 Shoppers Lane, Covina, CA 91723
    View Listing
    Property ID
    US09-7838120
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Colwell Gerald T CPA / Accounting Firm / Tax Preparation
    • Colwell Downing Certified Public Accountants / Accounting Firm / Tax Preparation

    Property Details for 650 Shoppers Ln

    Year built
    1955
    Construction
    WOOD
    Lot size
    0.08 lot acres
    Zone code
    CVC3AY
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    8451-001-040
    APU
    8451001040

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 13, 2013 — Colwell G T & M T Living Trust Colwell G T & M T Trust Quit Claim Deed · related —
    Jun 8, 2009 — David Northcutt Northcutt,lori L Quit Claim Deed · related —
    Jun 8, 2009 $430,000 Colwell Gerald T & M T Trust Northcutt,james & Nancy L Grant Deed $280k · Hanson Allison Trust
    Jan 26, 1994 — James Northcutt Northcutt,j&n Quit Claim Deed · related —
    Nov 1, 1991 $270,000 James Northcutt Yee Trust Grant Deed $196k · California State Bank
    Feb 23, 1989 — Yee Living Tr Yee Quit Claim Deed · related —
    — — Colwell G T & M T Living Trust — Deed Of Trust · related $274k · Union Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $925,000
      6.5%
      $855,000
      7%
      $790,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Covina
    County
    Los Angeles
    State
    California
    Longitude
    -117.888
    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
    $7,277
    $315,621
    $201,991
    $517,612
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $14,560,000
      60,810 SF

      750 Terrado Plz

      MINI-MALL
      750 Terrado Plz, Covina, CA 91723-3419
      View Details
    • Value Estimation
      $830,000
      2,400 SF

      636 Shoppers Ln

      MINI-MALL
      636 Shoppers Ln, Covina, CA 91723-3591
      View Details
    • Value Estimation
      $705,000
      2,160 SF

      654 Shoppers Ln

      MINI-MALL
      654 Shoppers Ln, Covina, CA 91723-3536
      View Details
    • Value Estimation
      $1,180,000
      4,560 SF

      110 Shoppers Ln

      MINI-MALL
      110 Shoppers Ln, Covina, CA 91723-3535
      View Details
    • Value Estimation
      $1,225,000
      7,571 SF

      180 Rowland St

      MINI-MALL
      180 Rowland St, Covina, CA 91723-3021
      View Details
    • Value Estimation
      $620,000
      2,280 SF

      146 Shoppers Ln

      MINI-MALL
      146 Shoppers Ln, Covina, CA 91723-3535
      View Details

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      Multi-Tenant Investment Portfolio For Sale

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      Mixed-Use Building with Office/Warehouse

      Mixed-use building suitable for retail, office, or light industrial.
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      Covina Apartment Building with Carports

      Eight-unit apartment building with yards, carports, and on-site laundry.
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      Remodeled Freestanding Building For Sale

      Freestanding, remodeled building with office and flex space.
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    • $7,280,000
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      Covina Multifamily Investment Opportunity

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    Similar Nearby for Lease

    • $1.50 SF/Yr
      2,730 SF

      Renovated Retail Space Available

      Community shopping center space for lease in Covina.
      139 North Grand Ave, Covina, CA 91723
      View Details
    • Contact for pricing
      2,700 SF

      Multi-Tenant Building For Sale

      Multi-tenant building suitable for office or retail use.
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      View Details
    • $2.00 SF/Yr

      Prime Retail Space in Covina

      Highly visible retail space with modern design and ample parking.
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      View Details
    • $1,400 /Mo
      2,800 SF

      Covina Retail/Office Space Available

      Retail/Office space in Covina, CA, with easy freeway access.
      336 E Rowland St, Covina, CA 91723
      View Details
    View Listing
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    Covina, CA 91723
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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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