Listed by CBRE LA, CBRE - Orange County
$3,888,000
135 S. Rosemead Blvd
Details
APN 5755-007-005, 5755-007-014
Property Type Office
Square Footage 8,425
Units 29
Tenancy Vacant
Price per SqFt $461
Year Built 1963
Year Renovated 2016
Buildings 1
Stories 1
Acreage 0.450
Zoning MXD (Mixed Use Development) and R2 (Two-Family Residence)
Parking Spaces 29 spaces
Parking per 1,000 SqFt 3.44
Investment Type Owner/User
Office | 8,425 SqFt
Marketing description
135 S Rosemead is located along South Rosemead Boulevard between East Colorado Boulevard and Del Mar Boulevard in the city of Pasadena, CA. The subject consists of one commercial/office building totaling approximately ±8,425 SF situated on 2 parcels totaling approximately ±0.45 acres or ±19,619 SF of land area. 135 S Rosemead was built in 1963, with a remodel completed in 2016. The property provides ±29 secured parking stalls, which equates to a parking ratio of ±3.44 spaces per 1,000 SF.
The property is located in Pasadena immediately south of the I-210 Freeway at S Rosemead Blvd and adjacent to Pasadena's main retail corridor E Colorado Blvd. The site is easily accessible to larger Pasadena as well neighboring cities including Arcadia, San Marino, Sierra Madre, San Gabriel, Monrovia, La Canada Flintridge, and the greater Los Angeles area. This is THE place to be in the immediate trade area with significant retail, office, residential and amenity density including Downtown Pasadena, Huntington Hospital, the Rose Bowl Stadium, Santa Anita Park, California Institute of Technology, USC Arcadia Medical Center, The Huntington Library Art Museum and many other traffic drivers making this location one of the most desirable areas in Southern California.
Investment highlights
- High-Demand, San Gabriel Valley Owner/User Opportunity – Outstanding opportunity to purchase a single-story, 8,425 SF commercial/office building situated in the heart of San Gabriel Valley - properties of this size and type are few and far between, let alone in highly sought after Pasadena
- Easily Accessible, Freeway Close Location – Located in Pasadena immediately south of the I-210 Freeway (267,900+ CPD) at S Rosemead Blvd (35,100+ CPD) and adjacent to Pasadena's main retail corridor E Colorado Blvd (19,600+ CPD), the property is easily accessible to larger Pasadena as well neighboring cities including Arcadia, San Marino, Sierra Madre, San Gabriel, Monrovia, La Canada Flintridge, and the greater Los Angeles area
- Irreplaceable Real Estate – East Pasadena is a fully built-out and mature submarket with little to no sites available for new commercial development – in combination with the below replacement cost offering price, this property is virtually irreplaceable – replacement cost is estimated to be $500+ PSF
- Amenity Rich Trade Area – Rosemead Blvd and Colorado Blvd are two of the trade area's primary commercial and retail corridors, providing the property immediate and synergistic amenities - surrounding retailers include Target, Whole Foods, Sprouts, Trader Joe's, Ralph's, Best Buy, Marshalls, Hobby Lobby, Home Goods, Jack in the Box, Habit Burger, Jersey Mike's, Panda Inn, LA Fitness, and many more. Furthermore, the immediate area continues to densify with residential including adjacent to the property
- Owner-User Opportunity – Own and occupy in a prime Pasadena location — take advantage of favorable interest rate and SBA financing, the after-tax benefits of ownership, and equity appreciation
- Investment Opportunity – Purchase as an investor and capitalize on the desirable high-traffic, amenity rich, and Pasadena location by leasing the property
- High Exposure Location - Major street exposure on Rosemead Blvd, a major north-south artery through the San Gabriel Valley
- Point of Destination Location – This is THE place to be in the immediate trade area with significant retail, office, residential and amenity density including Downtown Pasadena, Huntington Hospital, the Rose Bowl Stadium, Santa Anita Park, California Institute of Technology, USC Arcadia Medical Center, The Huntington Library Art Museum and many other traffic drivers making this location one of the most desirable areas in Southern California
- High Barriers to Entry – This San Gabriel Valley/Pasadena location is a mature, supply constrained trade area with virtually no land available for future development, creating high barriers to entry and ensuring the property's long-term success
- Continued Residential Densification – This area continues to densify with numerous high-density vertical residential developments creating hundreds of new units such as The Halstead Apartments, a planned 6-story apartment complex bringing 223 units to the area, as well as a residential development adjacent to the property
- Density and Affluence Abound – Located immediately off the I-210 Freeway, the site is easily accessible to the surrounding area daytime population exceeding 150,200 within a 3-mile radius
- More than 12,400 people in a 1-mile radius, with an Average Household Income exceeding $182,800
- More than 145,900 people in a 3-mile radius, with an Average Household Income exceeding $174,700
- More than 437,400 people in a 5-mile radius, with an Average Household Income exceeding $149,800
- This Pasadena area has seen strong recent growth with average home values growing more than 30% over the last five years to an average home value exceeding $1.3 million
- Highly Functional Building with Owned On-Site Gated Parking – With its single-level configuration and owned on-site parking lot (29 spaces for ±3.44 per 1,000 SF parking ratio), a rarity for the surrounding area, the building is optimally configured for convenience and a variety of commercial uses including the potential for medical uses
- Favorable Zoning – With the prior use as a medical fertility office, the property has potential for alternative medical office uses or, through the MXD and R2 zoning per the county of Los Angeles, retail, mixed-use, office, residential, and others providing a variety of options for an owner/user or investor to determine the highest and best use for the site
- Debt Free Acquisition – The property will be delivered free and clear of any existing debt, allowing an investor to pay all-cash or obtain new financing
- Optimal Owner/User Opportunity – With its location, configuration and immediate opportunity for occupancy, the property is optimally positioned for an owner/user, particularly for attractive SBA-Owner/User financing
Listing Contacts
Listed by CBRE LA, CBRE - Orange County
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Zoning
MXD MixedMixed UseMixed Use Development
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