534 S Myrtle Ave
Monrovia, CA 91016
Monrovia Restaurant & Banquet Hall · Retail Property For Sale

PROPERTY HIGHLIGHTS Centennial Advisers & KW Commercial are pleased to exclusively market for sale a fee simple restaurant and banquet hall in one of Los Angeles’s premier small town communities of Monrovia, California. The restaurant, appropriately named “The Monrovian” has been around since 1979 and is a staple of the community, serving home style meals and offering a banquet hall space for weddings and other family or corporate events. The building is approximately 11,500 square feet and has two stories. The first story is a traditional restaurant and café style area with a 136 person capacity, a large expansive kitchen, full walk in refrigerator, prep area, grill and serving booths. The second floor is the banquet hall area with a 150 person occupancy and a second kitchen area, handicap accessible men’s and women’s bathrooms, elevator access, separate entrance and exit, a full-bar area plus a beautiful view of Myrtle Street and all of Old Town Monrovia. The building is situated on approximately 16,553 square feet of land and includes its own parking lot parcel, which has 25 designated parking spaces. Having a parking lot parcel is extremely rare for this pedestrian friendly neighborhood as most of the parking lots are owned by the City. There are public parking parcels with space for over 100 vehicles directly adjacent to the Subject Property’s parking lot. The property is being sold with the fee simple building and adjacent parking lot parcel and includes all of the existing furniture, fixtures, equipment, licenses and other assets necessary to continue business operations of the restaurant and banquet hall. LOCATION HIGHLIGHTS The City of Monrovia is approximately 13.7 square miles and has nearly 40,000 active residents who enjoy a premier quality of life in a community that celebrates its historic past and is forging a bright future. The average household income exceeds $94,000, the average home price is well over $670,000 and nearly 35% of the inhabitants have a higher education degree. Monrovia is strategically located and is only 10 miles from Pasadena, 20 miles from Downtown Los Angeles and yet has a lower cost of doing business. Trader Joe’s, Original Tommy’s, Green Dot and Naked Juice are based in Monrovia. What’s more interesting is that technology and biotech firms are also congregating in an area called Technology Corridor and is a trend that has been picking up momentum in the past five to ten years. Old Town Monrovia, where the Subject Property is located, is a world-class downtown pedestrian friendly district that has an eclectic mix of restaurant, boutique shops and creative work-live options. It is the central gathering place for residents and visitors with a weekly Friday Night Family Street Fair as well as large celebrations such as the Christmas Holiday Parade and 4th of July Celebrations. In addition there is a new transit oriented development taking place near Monrovia’s Gold Line Station. The Monrovia Station has nearly 1.5 million riders per month and as a result the city has encouraged the development of over 1,000 residential units within a 2-block radius of the station. The City has also contributed over $25 million in public improvements centered on these developments.