For Sale
$2,580,000

Myrtle Ave AveMonrovia, CA 91016

High-traffic retail building, two units, great location.

Overview

Added:
Feb 3
Days on market:
61
This exceptional freestanding retail building in Monrovia, CA, presents a unique investment opportunity. Boasting a total of 4,180 square feet across two separate units, this property is ideally situated on a high-traffic retail street, surrounded by national tenants including Bank of America, Citibank, Vons Pavilions, and Chase Bank. The building benefits from excellent visibility and signage opportunities on both sides. Each unit features both front and back entrances, and all utilities are separately metered. Suite 218, currently leased to a franchise pet shop, generates income at $3.80 per square foot per month, with annual rent increases of 5%, providing a hedge against inflation. Suite 220 is perfect for owner-occupancy, offering high ceilings, a professional reception area, meeting room, large conference room with skylight, expansive sales floor, two private executive offices, kitchen, storage room, and bathroom. Ample parking is available both in the rear of the building and in nearby city lots. The building has undergone earthquake retrofitting, ensuring structural integrity. This property is situated on a 0.17-acre lot in a high-density area with limited developable land, making it a rare find. The vibrant Monrovia community hosts numerous events throughout the year, including a weekly Friday street fair, driving consistent foot traffic. This is a truly remarkable opportunity to own a prime retail property, offering both immediate passive income and the potential for owner-occupancy.

Property Details for Myrtle Ave Ave

Property type
Retail properties
Square Feet
4,180 SF
Year Built
1928
Lot Size (sq. ft)
7,405 SF

Location Insight

City
Monrovia
County
Los Angeles
State
California
Latitude
34.1411
Longitude
-118.0012
Myrtle Ave Ave, Monrovia, California

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Myrtle Ave Ave
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