245-247 N Lake Ave
Pasadena, CA 91101
Retail Property For Sale

245 North Lake is an aesthetically appealing, mixed-use asset with upside potential in an exceptional location along on one of Pasadena’s most traveled thoroughfares. This investment or owner/user building consists of approximately 5,675 of prime frontage offering highly sought after visibility and convenient access from the street or through the private parking located to the rear. Originally built in 1953, the building underwent an extensive exterior and interior renovation in 2003. Renowned architect Peter Tolkin of Tolkin Architecture spearheaded the project and did a masterful job which is seen especially in the interior of the building. The following work was completed as part of that rehab: - A comprehensive modernization of the retail spaces and upstairs office suite - Complete facelift of the street front façade - Exposing and restoring of the original red brick - Brand-new gas lines - A new underground transformer vault The Property’s CD-5 zoning is the ideal for a Pasadena investment or owner/user building, and could bode well for an eventual assemblage and development of the site. The objectives of the Central District is to provide for a varied mix of land uses with the goal to create the primary financial, business, retailing, government, and mixed-use epicenter of the City. It accentuates a higher density environment that will support a pedestrian-oriented community. The CD-5 subdistrict is specifically designed to reinforce Lake Avenue as a high-end commercial street with local shopping and class-A office space.