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19 S Garfield Ave 7,000 SF 100% Leased Retail Building Alhambra, CA 91801 $3,600,000 ($514.29/SF) 6.73% Cap Rate
Investment Highlights
- Rare owner-user restaurant opportunity: seller delivers the ±2,300 SF ground-floor space vacant at close with a full commercial kitchen.
- Limited deferred maintenance with a new roof completed in 2025 (20-year warranty) and most HVAC units recently replaced.
- Below-market rents and near-term lease rollovers provide immediate upside and the ability to reposition income to market.
- Prime Downtown Alhambra location near Main St. & Garfield Ave., across from Alhambra Place Mall with a Walk Score® of 97.
Executive Summary
19 S. Garfield Avenue is a 7,000 SF, two-story mixed-use asset located in the heart of Downtown Alhambra, directly across from Alhambra Place Mall and steps from the signalized intersection of Main Street and South Garfield Avenue. THE SELLER WILL DELIVER THE +-2,300 SF GROUND-FLOOR ANCHOR RESTAURANT SPACE VACANT AT CLOSE, GIVING A RESTAURANT OPERATOR A TURN-KEY, FULL BUILT-OUT COMMERCIAL KITCHEN IN ONE OF THE SAN GABRIEL VALLEY'S HIGHEST-TRAFFIC CORRIDORS, with income from the remaining tenants helping offset occupancy costs.
For investors, the 7,000 SF two-story building is 100% leased and offered at $3,600,000, with below-market rents, short-term and month-to-month leases, and near-term rollovers that provide a clear path to pro forma NOI growth. Major capital improvements are complete, including a new roof (January 2025) with a 20-year warranty and four of six HVAC units replaced in the past five years. With strong visibility, individual utility metering, elevator access, and a Walk Score of 97, the property works equally well for an owner-user restaurant operator or an investor seeking durable income and long-term appreciation.
For investors, the 7,000 SF two-story building is 100% leased and offered at $3,600,000, with below-market rents, short-term and month-to-month leases, and near-term rollovers that provide a clear path to pro forma NOI growth. Major capital improvements are complete, including a new roof (January 2025) with a 20-year warranty and four of six HVAC units replaced in the past five years. With strong visibility, individual utility metering, elevator access, and a Walk Score of 97, the property works equally well for an owner-user restaurant operator or an investor seeking durable income and long-term appreciation.
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- Offering Memorandum
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
7,000 SF
Building Class
C
Year Built
1989
Price
$3,600,000
Price Per SF
$514.29
Cap Rate
6.73%
NOI
$242,280
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.34
Lot Size
0.12 AC
Zoning
ALCBD/DRD* - Central Business District (ALCBD). Also, located within a Transit Priority Area which does not increase parking requirements for specific uses.
Parking
6 Spaces (0.86 Spaces per 1,000 SF Leased)
Frontage
55’ on Garfield Ave
Amenities
- 24 Hour Access
- Restaurant
- Signage
- Signalized Intersection
- Skylights
- Tenant Controlled HVAC
- Air Conditioning
- Cafe
Very walkable
80/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 5344-033-005 | Improvements Assessment | $81,269 |
| Land Assessment | $86,610 | Total Assessment | $167,879 |
Property Taxes
Parcel Number
5344-033-005
Land Assessment
$86,610
Improvements Assessment
$81,269
Total Assessment
$167,879
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