599 South Barranca Avenue, Covina, CA 91723 For Sale

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.