640 N Fair Oaks Ave
Pasadena, CA 91103
Retail Property For Sale

Oron Maher of Maher Commercial Realty proudly presents 640 N Fair Oaks Avenue, a +/-17,110 SF industrial building, currently occupied as an auto body facility, on a +/-44,867 SF PSCL1 corner lot in Pasadena, California. 640 N Fair Oaks Avenue is located along a popular retail corridor at a busy intersection in Pasadena. With easy access to the Ventura and Long Beach freeways and neighboring a residential area, 640 N Fair Oaks Avenue is a prime commercial location. Pasadena is a city in Los Angeles, California located 10 miles north of Downtown Los Angeles at the foot of the San Gabriel Mountains. With a 2017 estimated population of 154,497, it is the ninth largest city in Los Angeles County. The city is home to the Rose Bowl, the Tournament of Roses Parade, the Jet Propulsion Lab, and CalTech. Pasadena has a median age of 37.92 and an average household income of $105,221. Adaptive Reuse - Find a national or regional NNN retail tenant to take over the building, taking advantage of strong demographics and lot size. Collect premium rents of $3.00 psf NNN and operate at an 8% cap rate based on $8,000,000 purchase price. Ground-up development - Take advantage of over one acre of land to build a mixed-use parcel in a location with strong demographics. Owner-User - Property can be delivered vacant for any owner-user industrial, office or retail use. Land-bank - Current tenant can lease back the property and is flexible on rent rate and terms, giving a developer an opportunity to collect income while obtaining entitlements for a project, or securing a different tenant.