396-400 S Lake Avenue
Highly visible, ±8,250 SF storefront retail asset in Pasadena's South Lake Avenue District.
Marketing description
CBRE is pleased to present the exclusive opportunity to acquire 396-400 S Lake Avenue, a highly visible, ±8,250 SF storefront retail asset positioned in the heart of Pasadena's prestigious South Lake Avenue District. Located on a prime, ±9,015 SF parcel with favorable CD-CL (Central District Commercial Limited) zoning, this property represents a rare and compelling opportunity for discerning investors, creative owner-users, and visionary developers to acquire a high-profile retail asset in one of Southern California's most desirable, supply-constrained, and affluent submarkets. Constructed in 1952, the property boasts prominent Lake Avenue frontage, exceptional signage visibility, and convenient walkability to Pasadena's most dynamic retail and lifestyle destinations.
It is situated steps from the new Erewhon Market, the newly revitalized The Shops on Lake Avenue, and a curated mix of national retailers, premier fitness studios, and acclaimed restaurants. With robust demographics, a dense daytime population, and unparalleled transit connectivity, this offering is perfectly positioned for significant long-term value creation through strategic lease-up, creative repositioning, or ground-up redevelopment.
Pasadena's retail market consistently outperforms regional trends, fueled by its highly educated and affluent population, dense daytime workforce, and a celebrated walkable urban environment. The South Lake Avenue District, where the subject property is located, is a 12-block lifestyle corridor that defines sophisticated shopping and dining. It is anchored by a mix of national brands and unique local institutions, creating a vibrant and engaging atmosphere.
A Premier Lifestyle Corridor
South Lake Avenue blends national powerhouses like Erewhon Market, Williams-Sonoma, Trader Joe's, and T.J. Maxx with beloved local establishments such as Green Street Restaurant, Celestino, and The Arbour. This synergy attracts a diverse mix of shoppers, diners, and professionals.
The South Lake Avenue District, where the subject property is located, is a 12-block lifestyle corridor that defines sophisticated shopping and dining
Investment highlights
Prime Pasadena Location: Situated on South Lake Avenue, One of Pasadena's Most Dynamic and Prestigious Retail Corridors, Attracting a Diverse and Affluent Customer Base. The Property's Strategic Location Ensures Consistent Foot Traffic and Visibility.
Exceptional Demographics: The Trade Area Boasts an Average Household Income of Over $150,000, Significantly Exceeding County and State Averages. With a Daytime Population Exceeding 185,000, the Property Benefits From a Strong Base of Local Residents, Professionals, and Students From Nearby Institutions.
Proximity to Major Anchors: The Property is Located Directly Across From the New Erewhon Market, a World-renowned Organic Grocer That Serves as a Powerful Lifestyle Anchor, Driving High-income Clientele and Significant Foot Traffic to the Immediate Area. Other Nearby Anchors Include a Newly Renovated Macy's and Trader Joe's.
Storefront Retail Asset: Ideal for Flagship Retail, Showroom, or Experiential Concepts Seeking Exposure in a High-income, High-foot-traffic Environment.
Superior Visibility & Access: The Property Features a Generous 50 Feet of Prominent Frontage on South Lake Avenue, One of the City's Primary North-south Thoroughfares. It Benefits From a Signalized Pedestrian Crossing at Its Doorstep and is Easily Accessible via the 210 and 134 Freeways, as Well as the Metro L (Gold) Line.
Significant Value-add Potential: The Property is Currently Available for Lease-up, Offering a Clear Path to Generating a Stable Cash Flow. Alternatively, an Investor Could Pursue a Full Repositioning or Redevelopment to Maximize the Site's Value in a Market With Extremely High Barriers to Entry and Limited Retail Vacancy.
Ceiling Height ±16 Ft.
Building Frontage ±50 Ft.
Building Depth ±180 Ft.
Building Size ±8,250 Sq. Ft.
Land Area ±0.21 Ac (±9,148 Sq. Ft.)
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