1131 Glendora AveWest Covina, CA 91790
- Retail properties
- 10,050 SF
Property Details for 1131 Glendora Ave
- Year built
- 2008
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.49 AC
- Property size (Sq ft)
- 10,050 SF
- Zone code
- WCNC*
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 8469-020-018
- APU
- 8469020018
Description
Exceptional investment opportunity: a single-tenant, net-leased retail property located at 1131 S Glendora Ave, West Covina, CA 91790. This 13,170 square foot building, built in 2008, sits on a 0.49-acre lot and is currently 100% occupied by Dollar Tree under a sublease from Walgreens. The property boasts a strong financial profile, with a $6,000,000 asking price, a 7.25% cap rate, and a NOI of $435,000. The lease, originally signed on December 29, 2007, has a remaining term of 8.1 years, extending to December 31, 2032, and includes ten 5-year renewal options. The lease is backed by a corporate guarantee from Walgreens, providing significant financial security. The property's prime location on a hard signalized corner in Los Angeles County ensures high visibility and traffic flow. Zoned WCNC*, this property offers a compelling combination of strong tenant occupancy, a long-term lease, and a desirable location in a thriving Southern California market. The price per square foot is $455.58, and the land value is $279.68 per square foot. This is a rare opportunity to acquire a stable, income-generating asset with substantial upside potential.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $3,958,689
- 6.5%
- $3,654,175
- 7%
- $3,393,162
-
Comparable approach
- Method
- Valuation
- Relative Method
- $4,795,940
- Geo Method
- $4,815,992
-
Alternative Use
- Use
- Valuation
- Residential
- $3,082,433
- Hospitality
- $2,823,492
- Educational
- $2,349,112
- Medical
- $2,429,902
- Retail
- $3,654,175
Location Insight
- City
- West Covina
- County
- Los Angeles
- State
- California
- Latitude
- 34.056
- Longitude
- -117.938
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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