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488-500 N Allen Ave
Pasadena, CA 91106
Retail Property For Sale
Property Facts
Property Type
Retail
Property Subtype
Storefront
Building Size
8,688 SF
Building Class
C
Year Built
1926
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.95
Lot Size
0.21 AC
Zoning
CL, Pasadena
Parking
12 Spaces (1.38 Spaces per 1,000 SF Leased)
Frontage
150’ on N Allen Ave
Amenities
- Bus Line
- Signalized Intersection
About 488-500 N ALLEN AVE , PASADENA, CA 91106
This strategically located retail center is located in historic Pasadena, California. The subject property is 100% occupied by 7 tenants. Nearly all of the Tenants are service oriented business and are not susceptible to the e-commerce pressure we are seeing in traditional retail. This neighborhood retail center has benefited by its strategic location just off the 210 Freeway and situated among dense residential properties with average household income in excess of $115,503 per year. There are over 229,000 residents living within a three-mile radius of the subject property. The upside in this investment is in Tenant and Lease rollover as these lease should be converted to triple net which will push the yield to nearly 6% at list price.
Property Taxes
| Parcel Number | 5745-012-050 | Improvements Assessment | $1,867,194 |
| Land Assessment | $1,082,432 | Total Assessment | $2,949,626 |
Property Taxes
Parcel Number
5745-012-050
Land Assessment
$1,082,432
Improvements Assessment
$1,867,194
Total Assessment
$2,949,626
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