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80-100 N Lake Avenue
Pasadena, CA 91101

Price: $8,000,000 Zoning: PSC
Bldg SF: 11,556 SF Price/SF: $692
Land SF: 21,325 SF Occupancy: 88%
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233


Steven Schechter
(818) 212-2793
Steven.schechter@marcusmillichap.com
License # 01089464

Price: $8,000,000
Bldg SF: 11,556 SF
Land SF: 21,325 SF
Price/SF: $692
Occupancy: 88%
Property Type: Retail/Office
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233


Steven Schechter
(818) 212-2793
Steven.schechter@marcusmillichap.com
License # 01089464

Investment Highlights

Value-Add Mixed-Use Retail and Office Building with Parking

  • 88% occupied mixed-use retail and office building
  • Retail rents average $2.11 per square foot, modified gross
  • Office rents average $1.96 per square foot, full service gross
  • Ideal unit sizes which are easily leasable and require minimal tenant improvement costs
  • Potential Owner-User Opportunity

 

Excellent Pasadena, CA signalized corner location

  • SE signalized corner of North Lake Avenue and Colorado Boulevard, pne block north of Colorado Bolevard
  • Two blocks south of the Interstate 210 Foothill Freeway
  • 6 of a mile from California Institute of Technology
  • 1 miles from Old Town Pasadena

 

Potential Covered Land Opportunity

  • 21,315 square feet of land zoned CD-5 and AD-2
  • located within the Central District Specific Plan, sub-area CD-5 – Lake Avenue

 

Affluent Sub-market with Significant Development and Strong Underlying Demographics

  • Average household income within one mile of the property is $103,312
  • There are 14,762 people located within one mile of the property, 59,028 within three miles, and 118,579 within five miles
  • “By-right” height limit of 75 feet and a “by-right” FAR of 3.00, allowing for the potential to build up to 63,878 square feet at this location

 

Immediate Sub-Market is Experiencing Tremendous Growth

  • 2,440 multi-family units set for completion by 2022
  • over 41,000 people located within one mile of the subject property and over 493,000 people within five miles
  • Average household income within one mile is $99,960, and that climbs to $125,662 within three miles
  • The median home value in the immediate area is $772,7003