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396-400 S Lake Ave 8,250 SF Vacant Retail Building Pasadena, CA 91101 $6,500,000 ($787.88/SF)
Investment Highlights
- Prime Pasadena Location
- Proximity to Major Anchors
- Value-Add Potential
- Exceptional Demographics
- Storefront Retail Asset
- Superior Visibility and Access
Executive Summary
A highly visible, ±8,250 SF storefront retail asset positioned in the heart of Pasadena’s prestigious South Lake Avenue District.
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.
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.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
8,250 SF
Building Class
B
Year Built/Renovated
1952/2017
Price
$6,500,000
Price Per SF
$787.88
Percent Leased
Vacant
Building Height
1 Story
Building FAR
0.90
Lot Size
0.21 AC
Zoning
FSC
Parking
500 Spaces (60.61 Spaces per 1,000 SF Leased)
Frontage
50’ on S Lake Ave
Amenities
- Signage
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 1st Floor
- 4,000-8,000 SF
- Retail
- In-Line
- Now
| Space | Size | Space Use | Position | Available |
| 1st Floor | 4,000-8,000 SF | Retail | In-Line | Now |
1st Floor
| Size |
| 4,000-8,000 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
Walk Score®
Walker's Paradise (95)
Bike Score®
Very Bikeable (89)
Nearby Major Retailers
Property Taxes
| Parcel Number | 5735-031-004 | Improvements Assessment | $2,107,156 |
| Land Assessment | $1,183,794 | Total Assessment | $3,290,950 |
Property Taxes
Parcel Number
5735-031-004
Land Assessment
$1,183,794
Improvements Assessment
$2,107,156
Total Assessment
$3,290,950
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396-400 S Lake Ave
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