534 S Myrtle Ave | Monrovia, CA 91016
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- LoopNet Team
534 S Myrtle Ave
Monrovia, CA 91016
Value Add Prime Retail in OLD TOWN MONROVIA · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Turnkey Restaurant or PRIME Value-Add Retail In the heart of Old Town Monrovia on Myrtle Ave & Colorado Blvd!
- Priced TO SELL, Very LOW price/SQFT for the real estate + equipment + liquor license
- VALUE ADD: Flexibility of use on 2nd Floor unit; IDEAS: splitting 2nd floor into multiple retail, offices, or residential to generate higher income
- Hard corner lot on Colorado Blvd & Myrtle Ave; Arguably one of the best corners lots of property in Old Town Monrovia, Prime Location!
- Large lot size including parking lot parcel (most commercial properties in Old Town Monrovia uses city’s lot); CD zoning allows wide range of uses
- Owner has spent significant amounts of capital expenditures to rehab and equip the property (estimated ±$700,000 - buyer to verify)
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
10,816 SF
Building Class
B
Year Built/Renovated
1958/1985
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.67
Lot Size
0.37 AC
Zoning
MOCD* - CD - Commercial Downtown - tenant to verify with City of Monrovia planning department for allowed use
Parking
27 Spaces (2.5 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Corner Lot
- Restaurant
- Security System
- Signage
- Signalized Intersection
- Air Conditioning
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,414,944 | |
| Land Assessment | $2,070,396 | Total Assessment | $3,485,340 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$2,070,396
Improvements Assessment
$1,414,944
Total Assessment
$3,485,340
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