218-220 S Myrtle Ave - Storefront Retail/Office FOR SALE


Monrovia, CA 91016
$2,580,000 USD
626-616-9123
218-220 S Myrtle Ave, Monrovia, CA for Sale
$2,580,000 USD
Storefront Retail/Office - FOR SALE
1/23
null | Request Cap Rate

218-220 S Myrtle Ave
Monrovia, CA 91016


HIGHLIGHTS

  • Free-standing Building on highly coveted Myrtle Ave street frontage and building signage available
  • High density area with shortage of developable land in this region
  • Two units for various uses. Perfect for owner-user
  • Suite 218 is leased to a franchise pet store at $3.62/SqFt per Month with Annual 5% Rent Increases
  • Suite 220 is available for owner-occupied turn-key use or to be leased out
  • Truly a gem for owner-occupied investment property. Occupy one unit & collect immediate passive income from the other unit

OVERVIEW

Subject property is a freestanding building featuring two separate units totaling 4,180 square foot situated in Monrovia on high-traffic retail street and surrounded by national tenants. Building has two separate units for various uses such as the current retail and high-end office with highly coveted Myrtle Avenue street frontage. Both units have front & back entrance and all utilities are separately metered. Suite 218 is leased to a franchise pet shop at $3.62/Sq.Ft. per Month. Ideal hedge against inflation with Annual 5% Rent Increases. Suite 220 features high ceilings, professional receptionist counter and entry area, meeting room, large conference room with skylight, huge sales floor, two private executive offices, kitchen, storage room, and bathroom. Private parking in the back and plenty of City parking areas. Building is earthquake retrofitted. Truly a gem for owner-occupied investment property. Occupy one unit & collect immediate passive income from the other unit. High density area with shortage of developable land in this region. Building is located next to Bank of America, across from Citibank, and a high-traffic shopping plaza anchored by Vons Pavilions. The City hosts a variety of events all year round including the weekly street fair every Friday that attracts many residents and even attendees from other towns.

FOR SALE DETAILS

PRICE

$2,580,000 USD

PRICE/SF

$617 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Freestanding, Storefront, Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1928

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

CD, Monrovia

APN/PARCEL ID

8516-005-018

ASK ABOUT THIS PROPERTY

Jeannette ZhangThe BB GroupMore Info
626-616-9123

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Jeannette ZhangThe BB GroupMore Info
626-616-9123

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.