For Sale/For Lease
Pasadena, CA - Vacant Retail Pad
$2,950,000
Price8,240
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an 8,240 SF, freestanding retail pad located in Pasadena, CA (Los Angeles, MSA). The site is zoned for Limited Commercial (CL), providing for a wide range of commercial uses. The site presents a future investor with excellent upside through lease-up or redevelopment opportunity in an extremely desirable location. The offering presents the rare opportunity to acquire a high-grade asset within LA County, within a dense, infill trade area with high barriers to entry.
Location
The asset is strategically located at the signalized, hard corner intersection of North Lake Avenue and East Washington Boulevard which serves over 50,000 vehicles per day. Furthermore, the site benefits from nearby access to Interstate 210 (329,000 VPD), making this an ideal, centralized location with easy commutes. The subject property is ideally positioned as an outparcel to North Lake Square, a 80,000 SF neighborhood center anchored by Food4less, greatly increasing consumer traffic to the site. Other nearby national/credit tenants include Target, Home Depot, Vons, Ralphs, Aldi, Grocery Outlet, Walgreens, 24hour Fitness, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. Moreover, the asset is situated just 8 minutes for the infamous Rose Bowl Stadium and 21 minutes from Dodger Stadium which can support a combined capacity of more than 145,000 visitors. In addition, the site is within close proximity of multiple apartment complexes including Kings Villages (313 units), La Villa Lake Apartments (114 units), and Community Arms Apartments (132 units), and more, providing a direct residential consumer base from which to draw. The dense 5-mile subject trade area is supported by more than 336,000 residents and 175,000 daytime employees who boast an extremely affluent average household income of more than $158,000.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215