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Office Warehouse

531 N 1st Ave

531 N 1st Ave, Covina, CA 91723

Listing Price: $1,684,125

Lot Size
0.17 acres
Year Built
2004
Rentable SF
4,476

Investment Overview

Marcus & Millichap is pleased to exclusively present an owner-user opportunity to acquire 531 North 1st Ave, an industrial building in the city of Covina, California. The property is situated on the west side of North First Avenue, between East Front Street and East San Bernardino Road. The property is surrounded by four major freeways, Interstate 10, 210, 605 and California State Route 57, providing easy access to the major transportation corridors throughout the Southern California Region. The commercial building is also conveniently located half a mile away from the Metrolink Covina Station. Constructed in 2004, the property consists of two adjoining suites on the first floor and the second floor mezzanine space consists of a spacious studio apartment unit with a full bathroom and a vacant suite. The property has a total of approximately 4,491 square feet of building area. The buildings are situated on a parcel of approximately 7,482 square feet. There are four surface parking spaces in front of the building, and two drive-ins by way of rear alley. The ground floor suites are adjoining rooms with doors in the office and in the garage that can be opened to connect the two suites. Truck loading is on the west building wall with two commercial loading docks equipped with automatic roll-up doors that are 10 feet wide by 14 feet height each, accessing the garages. The garages have direct access to the first-floor suites. The ceiling height of the garage is 18 feet to 20 feet. The building is serviced by 200 amp-120-280-volt power. The ground floor suit is currently occupied by a lash studio with lease ending in August 2022. The office is renovated with hardwood flooring all throughout the suite and features a private restroom and two storage rooms. The new mezzanine spaces can be accessed through the service doors and up the stairway the west side of the building. One of the mezzanine spaces is currently occupied as a dwelling studio unit that features a kitchen and a full bathroom with a shower. The studio offers carpet flooring, and the kitchen and bathroom have been renovated with hardwood flooring and new cabinetry. The other mezzanine space features carpet flooring as well and a private bathroom, and it is currently unoccupied. The commercial building is zoned TCSP – F.A.I.R. that is in the Food Arts Industrial Residential Zone within Covina Town Center Specific Plan adopted in November 2019 with the objective of fostering revitalization and improve connectivity between Downtown Covina and the Metrolink Station, which is just half a mile away from the subject building. This plan calls for creative uses such as artist studios, galleries, live/work units, restaurants, small-scale craft breweries, creative office activities and research and technology uses. There are endless possibilities to utilize this commercial building to its fullest potential. 531 North First Avenue is a great opportunity for an owner-user to purchase newly renovated industrial property in the Covina Market.

Investment Highlights

  • Owner-User Opportunity
  • Constructed in 2004
  • Renovated with New Mezzanine Space in 2021
  • Zoned TCSP - F.A.I.R.
  • Two 14 Foot Automatic Roll-Up Doors
  • Population In Excess of 413,000 Within a Five-Mile Radius
  • Average Household Income Over $105,000 Within a Five-Mile Radius

Exclusively Listed By

Office Warehouse

531 N 1st Ave

Listing Price: $1,684,125

Lot Size
0.17 acres
Year Built
2004
Rentable SF
4,476

Investment Highlights

  • Owner-User Opportunity
  • Constructed in 2004
  • Renovated with New Mezzanine Space in 2021
  • Zoned TCSP - F.A.I.R.
  • Two 14 Foot Automatic Roll-Up Doors
  • Population In Excess of 413,000 Within a Five-Mile Radius
  • Average Household Income Over $105,000 Within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to exclusively present an owner-user opportunity to acquire 531 North 1st Ave, an industrial building in the city of Covina, California. The property is situated on the west side of North First Avenue, between East Front Street and East San Bernardino Road. The property is surrounded by four major freeways, Interstate 10, 210, 605 and California State Route 57, providing easy access to the major transportation corridors throughout the Southern California Region. The commercial building is also conveniently located half a mile away from the Metrolink Covina Station. Constructed in 2004, the property consists of two adjoining suites on the first floor and the second floor mezzanine space consists of a spacious studio apartment unit with a full bathroom and a vacant suite. The property has a total of approximately 4,491 square feet of building area. The buildings are situated on a parcel of approximately 7,482 square feet. There are four surface parking spaces in front of the building, and two drive-ins by way of rear alley. The ground floor suites are adjoining rooms with doors in the office and in the garage that can be opened to connect the two suites. Truck loading is on the west building wall with two commercial loading docks equipped with automatic roll-up doors that are 10 feet wide by 14 feet height each, accessing the garages. The garages have direct access to the first-floor suites. The ceiling height of the garage is 18 feet to 20 feet. The building is serviced by 200 amp-120-280-volt power. The ground floor suit is currently occupied by a lash studio with lease ending in August 2022. The office is renovated with hardwood flooring all throughout the suite and features a private restroom and two storage rooms. The new mezzanine spaces can be accessed through the service doors and up the stairway the west side of the building. One of the mezzanine spaces is currently occupied as a dwelling studio unit that features a kitchen and a full bathroom with a shower. The studio offers carpet flooring, and the kitchen and bathroom have been renovated with hardwood flooring and new cabinetry. The other mezzanine space features carpet flooring as well and a private bathroom, and it is currently unoccupied. The commercial building is zoned TCSP – F.A.I.R. that is in the Food Arts Industrial Residential Zone within Covina Town Center Specific Plan adopted in November 2019 with the objective of fostering revitalization and improve connectivity between Downtown Covina and the Metrolink Station, which is just half a mile away from the subject building. This plan calls for creative uses such as artist studios, galleries, live/work units, restaurants, small-scale craft breweries, creative office activities and research and technology uses. There are endless possibilities to utilize this commercial building to its fullest potential. 531 North First Avenue is a great opportunity for an owner-user to purchase newly renovated industrial property in the Covina Market.

Exclusively Listed By

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