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Thatcher Medical Bldg 960 E Green St 73,864 SF 89% Leased Office Building Pasadena, CA 91106 For Sale
INVESTMENT HIGHLIGHTS
- PREMIER OUTPATIENT MEDICAL INVESTMENT OPPORTUNITY
- EXCELLENT OUTPATIENT MEDICAL LOCATION IN PASADENA'S SOUTH LAKE DISTRICT
EXECUTIVE SUMMARY
* ±88.7% leased best-in-class garden style outpatient medical campus located in the premier South Lake Avenue District of Pasadena, class A location.
* Durable Cash Flow - Pro Forma NOI totals $1.80 million during the first year of ownership and is expected to grow ±63% during the 10-year hold period.
* In-place rents are approximately 7% below market. With a medical office vacancy of 5.8% in Pasadena, demand would drive accelerated rent growth and help push yields with lease-up of vacancies.
* Diverse and Committed Tenancy – Stable diverse cash flow from 41 medical office tenants, more than two-thirds of which have been at the property for 5 years or more.
* Limited rollover risk, with no tenant occupying more than 5% of the project.
* Highest parking ratio and best access of any building within the competitive set. Parking ratio is 3.75/1,000 RSF.
EXCELLENT OUTPATIENT MEDICAL LOCATION
* Situated in Pasadena’s South Lake neighborhood, the project is in a highly desirable location and Pasadena’s most walkable neighborhood, with a neighborhood Walk Score of of 96 out of 100, a “Walker’s Paradise.”
* The premier South Lake Avenue District of Pasadena offers more than 700 restaurants and retailers, all within walking distance.
* In addition to excellent regional access by way of the 210 (Foothill), 134 (Ventura) Freeways and 110 (Arroyo Seco) Parkway, the project is just a 12-minute walk from the Metro A Line Lake Station.
PROPERTY FACTS
AMENITIES
- 24 Hour Access
- Bus Line
- Property Manager on Site
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Dr Nieberg
- -
- -
- -
-
Lorem Ipsum
-
Jan 0000
- Hearing Heal LLC
- Health Care and Social Assistance
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Dr Nieberg | - | - | - | Lorem Ipsum | Jan 0000 | |
| Hearing Heal LLC | Health Care and Social Assistance | - | $9.99 | Lorem Ipsum | Jan 0000 |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Can be combined with suite L13 for a total of 1,237 SF.
Can be combined with suite L-12 for a total of 1,237 SF.
Storage space.
Broker Bonus $1 per square foot per year of term, for a minimum of 5 years. New proactive ownership , new turnkey/move-in ready spec suites and new common area upgrades. New amenities: Tenant only lounge/break room , monthly on-site car wash and on-site dry cleaning drop off/pick-up. The premier medical office building in Pasadena’s South Lake Avenue District. Offering doctors, medical professionals and their patients a fully supported medical center environment in an iconic building with meticulous landscaped courtyards, wood paneled common areas and first class amenities. Conveniently located within walking distance of more than 700 restaurants and retailers.
- Lower Level-Ste L7
- 1,213 SF
- Office/Medical
- -
- Now
- 2nd Fl-Ste 280
- 1,951 SF
- Office/Medical
- -
- Now
| Space | Size | Space Use | Condition | Available |
| Lower Level-Ste L-12 | 974 SF | Office | - | Now |
| Lower Level-Ste L-13 | 263 SF | Medical | - | Now |
| Lower Level - L-70 | 1,622 SF | Flex | - | Now |
| Lower Level-Ste L-75 | 2,301 SF | Office/Medical | Partial Build-Out | Now |
| Lower Level-Ste L7 | 1,213 SF | Office/Medical | - | Now |
| 2nd Fl-Ste 280 | 1,951 SF | Office/Medical | - | Now |
Lower Level-Ste L-12
| Size |
| 974 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
Lower Level-Ste L-13
| Size |
| 263 SF |
| Space Use |
| Medical |
| Condition |
| - |
| Available |
| Now |
Lower Level - L-70
| Size |
| 1,622 SF |
| Space Use |
| Flex |
| Condition |
| - |
| Available |
| Now |
Lower Level-Ste L-75
| Size |
| 2,301 SF |
| Space Use |
| Office/Medical |
| Condition |
| Partial Build-Out |
| Available |
| Now |
Lower Level-Ste L7
| Size |
| 1,213 SF |
| Space Use |
| Office/Medical |
| Condition |
| - |
| Available |
| Now |
2nd Fl-Ste 280
| Size |
| 1,951 SF |
| Space Use |
| Office/Medical |
| Condition |
| - |
| Available |
| Now |
Lower Level-Ste L-12
| Size | 974 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
Can be combined with suite L13 for a total of 1,237 SF.
Lower Level-Ste L-13
| Size | 263 SF |
| Space Use | Medical |
| Condition | - |
| Available | Now |
Can be combined with suite L-12 for a total of 1,237 SF.
Lower Level - L-70
| Size | 1,622 SF |
| Space Use | Flex |
| Condition | - |
| Available | Now |
Storage space.
Lower Level-Ste L-75
| Size | 2,301 SF |
| Space Use | Office/Medical |
| Condition | Partial Build-Out |
| Available | Now |
Broker Bonus $1 per square foot per year of term, for a minimum of 5 years. New proactive ownership , new turnkey/move-in ready spec suites and new common area upgrades. New amenities: Tenant only lounge/break room , monthly on-site car wash and on-site dry cleaning drop off/pick-up. The premier medical office building in Pasadena’s South Lake Avenue District. Offering doctors, medical professionals and their patients a fully supported medical center environment in an iconic building with meticulous landscaped courtyards, wood paneled common areas and first class amenities. Conveniently located within walking distance of more than 700 restaurants and retailers.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $18,940,746 | |
| Land Assessment | $13,909,596 | Total Assessment | $32,850,342 |
PROPERTY TAXES
Presented by
Thatcher Medical Bldg | 960 E Green St
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