1131 Glendora AveWest Covina, CA 91790

  • Retail properties
  • 10,050 SF
For Sale
$6,000,000 View listing

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
1131 Glendora Ave, West Covina, California

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

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
$37,613
$1,961,260
$1,041,795
$3,003,055
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