Log In/Sign Up
Your email has been sent.
141 S Lake Ave 27,220 SF 46% Leased Office Building Pasadena, CA 91101 For Sale
Investment Highlights
- Concept Design Approval
- Walkable Amenities
- Owner-User Financing
- Premier Location
- Full-Floor Availability
- Infill Scarcity
Executive Summary
CBRE is pleased to present 141 S Lake Avenue, a 2-story, a 27,220 SF mixed-use retail and office building situated on 1.27 acres along South Lake Avenue in Pasadena, California. The Property presents a compelling opportunity for an owner-user seeking a prominent South Lake Avenue address, an investor looking to capitalize on below-market in-place income, or a developer looking to advance a well-positioned mixed-use project. Anchored by Celestino's, the Property benefits from existing cash flow while offering significant upside through lease-up, renovation, or redevelopment.
A conceptual development plan has received Concept Design Approval from the City of Pasadena, a meaningful milestone that reflects City support for the project vision and provides a qualified developer with a significant head start in the entitlement process. The approved concept envisions a 134-unit mixed-use project with only 6 affordable units required, an exceptionally low inclusionary threshold that meaningfully improves project economics relative to comparable sites in the submarket.
The Property is being marketed without an asking price. Offers will be negotiated as received and please direct all inquiries to the investment advisors listed in this offering.
A conceptual development plan has received Concept Design Approval from the City of Pasadena, a meaningful milestone that reflects City support for the project vision and provides a qualified developer with a significant head start in the entitlement process. The approved concept envisions a 134-unit mixed-use project with only 6 affordable units required, an exceptionally low inclusionary threshold that meaningfully improves project economics relative to comparable sites in the submarket.
The Property is being marketed without an asking price. Offers will be negotiated as received and please direct all inquiries to the investment advisors listed in this offering.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
27,220 SF
Building Class
B
Year Built
1979
Percent Leased
46%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
13,610 SF
Building FAR
0.49
Lot Size
1.27 AC
Zoning
CD-MU-G - Commercial
Parking
69 Spaces (3.04 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Atrium
- Food Service
1 1
Very walkable
80/100
Exceptionally drivable
100/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5734-035-031 | Improvements Assessment | $9,551,620 |
| Land Assessment | $7,601,835 | Total Assessment | $17,153,455 |
Property Taxes
Parcel Number
5734-035-031
Land Assessment
$7,601,835
Improvements Assessment
$9,551,620
Total Assessment
$17,153,455
1 of 11
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
141 S Lake Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.