Myrtle Ave AveMonrovia, CA 91016

Property Details for Myrtle Ave Ave

Year built

1928

Lot size

0.17 AC

Property size (Sq ft)

4,180 SF

Property type

Retail properties

Description

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.

Location Insight

City

Monrovia

County

Los Angeles

State

California

Latitude

34.1411

Longitude

-118.001

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