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    Property profile & analytics

    702 Azusa Ave West Covina, CA 91791-1010

    • Retail space
    • 16,422 SF
    • 1.40 lot acres
    OFF-MARKET
    Last Sale
    Jan 15, 2025
    $7,125,000
    Value Estimations
    $6,535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-6340666
    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

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    Property Details for 702 Azusa Ave

    Year built
    1999
    Construction
    TILT-UP CONCRETE
    Lot size
    1.40 lot acres
    Property size
    16,422 SF
    Zone code
    WCNC
    Property type
    Retail space
    APN
    8443-003-022
    APU
    8443003022

    Description

    This exceptional 16,101-square-foot free-standing retail building presents a remarkable investment opportunity in the thriving city of West Covina, California. Located at 702 N Azusa Ave, 91791, within Los Angeles County, this single-tenant property offers significant potential for redevelopment or lease to a new tenant. The entire building is currently vacant, providing immediate flexibility for prospective buyers or investors. The property's substantial size allows for a wide range of uses, catering to various retail concepts or potential adaptive reuse. Its prime location in West Covina offers excellent visibility and accessibility, benefiting from high traffic counts and proximity to residential areas and other commercial establishments. The property's free-standing nature provides ample parking and convenient access for customers. This is a rare chance to acquire a sizable, vacant retail space in a desirable location with strong growth potential. The property is classified as Retail, with a Subtype of Free-standing building. Detailed building plans and specifications are available upon request. Serious inquiries only. This is an ideal opportunity for investors seeking a high-impact retail investment in a dynamic market. The property's size and location make it an attractive proposition for a variety of businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,920,000
      6.5%
      $6,385,000
      7%
      $5,930,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,513,000
      Market price range: $3.50M - $9.44M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $5,675,000
      Current use
      RESTAURANT
      $10,695,000
      Change: +88% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $9,995,000
      Change: +76% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $7,595,000
      Change: +34% Conversion: Difficult
      MEDICAL BUILDING
      $7,465,000
      Change: +32% Conversion: Difficult
      WAREHOUSE, STORAGE
      $6,310,000
      Change: +11% Conversion: Difficult
      OFFICE BUILDING
      $5,730,000
      Change: +1% Conversion: Easy
      COMMERCIAL (GENERAL)
      $5,075,000
      Change: -11% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    West Covina
    County
    Los Angeles
    State
    California
    Longitude
    -117.907
    Latitude
    34.0831
    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
    $52,229
    $2,606,092
    $1,329,567
    $3,935,659
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $7,115,000
      31,158 SF

      200 Citrus St

      RETAIL STORES (PERSONAL SERVICES) • 31,158 SF
      200 Citrus St, West Covina, CA 91791
      View Details
    • Value Estimation
      $1,695,000
      6,826 SF

      2505 Garvey N Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,826 SF
      2505 Garvey N Ave, West Covina, CA 91791
      View Details
    • Value Estimation
      $955,000
      3,172 SF

      715 Azusa Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,172 SF
      715 Azusa Ave, West Covina, CA 91791
      View Details
    • Value Estimation
      $775,000
      2,548 SF

      711 Azusa Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,548 SF
      711 Azusa Ave, West Covina, CA 91791-1011
      View Details
    • Value Estimation
      $1,170,000
      6,640 SF

      531 Azusa Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,640 SF
      531 Azusa Ave, West Covina, CA 91791-1102
      View Details
    • Value Estimation
      $5,525,000
      34,018 SF

      563 Azusa Ave

      RETAIL STORES (PERSONAL SERVICES) • 34,018 SF
      563 Azusa Ave, West Covina, CA 91791
      View Details

    Similar Nearby for Sale

    • $2,150,000
      87,294.24 Acres

      West Covina View Lot

      Large view lot in upscale neighborhood with city views.
      1116 Outlook Ln, West Covina, CA 91791
      View Details
    • Contact for pricing

      West Covina Vacant Land Opportunity

      Vacant land parcel in West Covina with development potential.
      3114 E Garvey Ave S, West Covina, CA 91791
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      120,000 SF

      1410-1432 Azusa Ave

      Specialty properties • 120,000 SF
      1410-1432 Azusa Ave, West Covina, CA 91791
      View Details
    • Contact for pricing

      Fully Leased Retail Property

      Retail property in West Covina, currently 100% leased.
      616 N Azusa Ave, West Covina, CA 91791
      View Details
    • Contact for pricing

      Leased Office Building

      Office building in West Covina, currently 100% leased.
      2934 E Garvey Ave S, West Covina, CA 91791
      View Details
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    West Covina, CA 91791-1010
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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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