599 S Barranca Ave - Medical FOR SALE


Covina, CA 91723- Downtown Covina
$6,888,000 USD
909-910-6656
599 S Barranca Ave, Covina, CA for Sale
$6,888,000 USD
Medical - FOR SALE
1/7
null | 6.72% Cap Rate

599 S Barranca Ave
Covina, CA 91723
Downtown Covina


HIGHLIGHTS

  • Great Street Visibility at Signalized Corner
  • Building Signage Available
  • Traffic Count of ±29,196 Cars Per Day
  • Approximately 97% Occupied
  • Value-Add Upside to Market Rents
  • Zoned Office, Medical, Dental, Retail (verify)

OVERVIEW

Lee & Associates Pasadena is pleased to present the opportunity to acquire the Barranca Place, a Class B, ±25,923 rentable square foot,mixed-use, multi-tenant commercial building located in Los Angeles County at 599 S. Barranca Avenue in the city of Covina, California. Situated on a prime signalized corner, Barranca Place offers excellent street exposure with building signage facing Barranca Avenue and Rowland Street. This property is unique in the area with a prominent rounded corner facade, four stories including a basement level and penthouse, both subterranean and surface parking, elevator service and multiple entrances. Pride of ownership shows at this well-maintained property with tile lobby, black awnings, striped parking and green landscaping. At approximately 97% occupied to a diverse tenant base, the building delivers an in-place NOI of $462,764 at a 6.72% cap rate, with continued upside as remaining below-market and month-tomonth suites are brought to market. Flexible zoning allows for a range of office, medical and retail uses, broadening the pool of prospective tenants. Located in the heart of Covina, over 29,196 cars pass daily at this busy intersection with easy access from the I-10 (San Bernardino) freeway. National retailers at Eastland Shopping Center, IKEA and Shoppers Lane are minutes away, Downtown Covina and City Hall are a short drive, and Emanate Inter-Community Hospital is 1.2 miles northwest.

FOR SALE DETAILS

PRICE

$6,888,000 USD

PRICE/SF

$255 USD /SF

CAP RATE

6.72%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Becrich Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1964

SPRINKLERS

-

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,382 SF

ZONING

CP*

APN/PARCEL ID

8445-024-046

ASK ABOUT THIS PROPERTY

Jamie HarrisonLee & Associates - PasadenaMore Info
909-910-6656

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Jamie HarrisonLee & Associates - PasadenaMore Info
909-910-6656

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.