422 S Lake Ave 9,020 SF Retail Building Pasadena, CA 91101 $5,400,000 ($598.67/SF)

PREMIER INVESTMENT OR OWNER/USER OFFERING IN THE HEART OF PASADENA
Kidder Mathews is pleased to exclusively offer for sale this single-tenant street-front retail building located in the prestigious South Lake Avenue District of Pasadena at 422 S. Lake Avenue, Pasadena, California 91101.
THE OFFERING
The property consists of approximately 9,020 square feet of building area situated on 10,495 SF of land, with an additional 9,296 square-foot parking lot located at the rear. The building is currently occupied by Terra Teak, with lease expiring April 1, 2026. This asset has been under the same ownership for over 40 years and has never before been offered for sale.
The property is ideal suited for re-tenanting or repositioning for a wide range of uses, including retails, restaurant, medical office, or professional offices, supported by abundant on-site parking and prime location within Pasadena’s premier commercial corridor.
South Lake Avenue is recognized as one of California's most walkable and desirable districts, earning an exceptional Walk Score of 96 out of 100, making it a “Walker's Paradise”, due to the proximity to dining, shopping, parks, schools, and entertainment.
Located on South Lake Avenue, a unique 12-block corridor featuring shopping, dining, professional services, and urban living, the property lies within Financial District and is walking distance to both the California Institute of Technology (CAL-Tech) and Pasadena City College.
Lake Avenue is home to over 600 businesses, over 2 million square feet of Class A office space and the 450,000 square foot “The Shops on Lake” regional mall. Nearby national retailers include Macy’s, Pavilions, TJ Maxx, LA Fitness, Trader Joe’s, Ross Dress for Less (adjacent to property) Erewhon, Pacific Sales, Pet Food Express, Pottery Barn Kids, Talbots, Vitamin Shoppe and William-Sonoma.
The property benefits from excellent visibility and frontage along Lake Ave, one of Pasadena’s major commercial thoroughfares, with traffic counts exceeding 45,000 vehicles per day at the intersection of Lake Ave and Del Mar Blvd. The location also provides convenient access to the 210 and 110 Freeways, two of Southern California’s most heavily traveled routes.
The property sits at the heart of Pasadena, one of Los Angeles County’s most vibrant and affluent submarkets. Within a five-mile radius, the area supports a population of over 541,000 residents with an average household income exceeding $158,000. The site enjoys a central location, approximately 30 minutes from Downtown Los Angeles and 45 minutes from Orange County, with easy connectivity to major freeways including 210, 110, 605 and 710.
Surrounded by synergistic mix of retail, residential, and education institutions, including Caltech (2,500 students) and Pasadena City College (30,000 Students), the property offers an exceptional opportunity for investors and owner-user seeking a premier Pasadena address with long-term upside.