444 N Fair Oaks Ave - 1.86 Acre Development Site
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444 N Fair Oaks Ave - 1.86 Acre Development Site
1.86 Acres of Commercial Land Offered at $18,500,000 in Pasadena, CA 91103
Executive Summary
Pasadena, CA | 1.86 Acres - Development Opportunity
NAI Capital is pleased to offer qualified investors a rare opportunity to acquire a large 1.86 Acre transit-oriented development opportunity within walking distance to Old Town Pasadena and 0.4 Miles from the Memorial Park Metro Station.
Extensive Due Diligence ("DD") for a 206 Unit development (not entitled) can be shared with prospective buyers, subject to approval of a signed Confidentiality Agreement.
Not a part (NAP*) of the offering are the following assets:
- The property features income producing cell tower leases with 3 national carriers.
* These additional assets could be purchased separately from the subject property offering.
NAI Capital is pleased to offer qualified investors a rare opportunity to acquire a large 1.86 Acre transit-oriented development opportunity within walking distance to Old Town Pasadena and 0.4 Miles from the Memorial Park Metro Station.
Extensive Due Diligence ("DD") for a 206 Unit development (not entitled) can be shared with prospective buyers, subject to approval of a signed Confidentiality Agreement.
Not a part (NAP*) of the offering are the following assets:
- The property features income producing cell tower leases with 3 national carriers.
* These additional assets could be purchased separately from the subject property offering.
Property Facts
1 Lot Available
Lot
| Price | $18,500,000 | Lot Size | 1.86 AC |
| Price Per AC | $9,946,237 |
| Price | $18,500,000 |
| Price Per AC | $9,946,237 |
| Lot Size | 1.86 AC |
Permitted Uses: Research & Development, Medical-Office, Office, Retail & Mixed-Use. Development Standards: Using the State Density Bonus Law (+50%), the maximum density could potentially be up to 243 Units. [ 162 + 50% (81) = 243 ] .
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Walk Score ®
Walker's Paradise (92)
Transit Score ®
Excellent Transit (70)
Bike Score ®
Biker's Paradise (96)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $607,148 | |
| Land Assessment | $2,447,893 | Total Assessment | $3,055,041 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$2,447,893
Improvements Assessment
$607,148
Total Assessment
$3,055,041
zoning
| Zoning Code | FGSSP-C-3B (General Plan - Medium Mixed-Use (2.25 FAR, 87 DU/Acre). Specific Plan - Fair Oaks-Orange Grove (32 DU/Acre, 40 Max Height). Proposed Zone: FGSP-MU-87.) |
| FGSSP-C-3B (General Plan - Medium Mixed-Use (2.25 FAR, 87 DU/Acre). Specific Plan - Fair Oaks-Orange Grove (32 DU/Acre, 40 Max Height). Proposed Zone: FGSP-MU-87.) |
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444 N Fair Oaks Ave - 1.86 Acre Development Site
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