45-47 E Colorado Blvd
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45-47 E Colorado Blvd
6,881 SF 65% Leased Retail Building Pasadena, CA 91105 $4,250,000 ($618/SF) 6.57% Cap Rate
Investment Highlights
- Available individually or as part of a portfolio
- Full Corporate Guarantee
- Ideal for investor or owner-occupant
- New 10-year lease extension from Romantix with annual increases
- Prime Old Pasadena location
- Proximity to popular retail and dining
Executive Summary
Cap Rate is Pro Forma.
The Subject Property is a +/- 6,881 square foot, two-story with basement, multi-tenant retail/office mixed-use building situated on a +/- 2,867 square foot lot in Pasadena, CA., strategically located on the north side of Colorado Boulevard and nestled between Fair Oaks Avenue and Raymond Avenue. The property is 32% occupied by Romantix under a new 10-year lease extension. Currently, the property has two vacancies: a +/- 2,422 square foot office space on the second floor and a +/- 2,276 square foot finished basement.
The vacant office suite, measuring +/- 2,422 square feet is in rent-ready condition and can be accessed directly from Colorado Boulevard via its own entryway and a staircase. The +/- 2,276 square foot basement is fully finished, equipped with lighting, HVAC, and offers a seven-foot clearance to the beams, making it an attractive option for a variety of uses in this highly space-constrained market. Access to the basement is provided through a small lobby off Exchange Alley at the rear of the property.
The Subject Property is a +/- 6,881 square foot, two-story with basement, multi-tenant retail/office mixed-use building situated on a +/- 2,867 square foot lot in Pasadena, CA., strategically located on the north side of Colorado Boulevard and nestled between Fair Oaks Avenue and Raymond Avenue. The property is 32% occupied by Romantix under a new 10-year lease extension. Currently, the property has two vacancies: a +/- 2,422 square foot office space on the second floor and a +/- 2,276 square foot finished basement.
The vacant office suite, measuring +/- 2,422 square feet is in rent-ready condition and can be accessed directly from Colorado Boulevard via its own entryway and a staircase. The +/- 2,276 square foot basement is fully finished, equipped with lighting, HVAC, and offers a seven-foot clearance to the beams, making it an attractive option for a variety of uses in this highly space-constrained market. Access to the basement is provided through a small lobby off Exchange Alley at the rear of the property.
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,881 SF
Building Class
B
Year Built
1919
Price
$4,250,000
Price Per SF
$618
Cap Rate
6.57%
NOI
$279,225
Percent Leased
65%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.97
Lot Size
0.08 AC
Zoning
PSC
Parking
36 Spaces (5.23 Spaces per 1,000 SF Leased)
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 2nd Floor
- 2,422 SF
- Office/Retail
- -
- Now
| Space | Size | Space Use | Position | Available |
| 2nd Floor | 2,422 SF | Office/Retail | - | Now |
2nd Floor
| Size |
| 2,422 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| Now |
Walk Score ®
Walker's Paradise (98)
Transit Score ®
Excellent Transit (73)
Bike Score ®
Very Bikeable (74)
Nearby Major Retailers
![[solidcore]](https://images1.loopnet.com/i2/X1DfwMFhQUJtrEvdN0O4PHppb1UchnIXcAPoILYKKzI/105/image.jpg "[solidcore]")
PROPERTY TAXES
| Parcel Number | 5723-023-011 | Improvements Assessment | $1,560,600 |
| Land Assessment | $728,280 | Total Assessment | $2,288,880 |
PROPERTY TAXES
Parcel Number
5723-023-011
Land Assessment
$728,280
Improvements Assessment
$1,560,600
Total Assessment
$2,288,880
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45-47 E Colorado Blvd
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