Overview

Description

We are excited to showcase an exclusive NNN Retail Center that is FULLY LEASED and consists of 6 PARCELS in Pasadena! This property offers a rare investment opportunity with LOW RISK, a DIVERSE TENANT BASE for CONSISTENT INCOME, and great potential for significant REDEVELOPMENT.

Zoned under the Central District Specific Plan, which encourages various types of developments including student dormitories. Given its prime location, any redevelopment promises a significant increase in its value and profitability.

The property is 100% leased to National-Known tenants who have RECENTLY RENEWED their lease agreement.

Tenants 1 & 2
Berkshire Hathaway HomeService
19-year operating history at the site
Recent 5-year renewal

Tenant 3
Salutations Home
High-end, luxurious home decor and gift shop  
26-year operating history at the site 
Recent 5-year renewal

Tenant 4
Stride Fitness
Established in Pasadena for 7 years
New lease negotiable 

Rent Roll
540 S Lake Ave - Berkshire Hathaway
$334,501.08 per yr increase 4% per year
5-year lease extension terminating on Jan 31, 2028

929 E California Blvd - Berkshire Hathaway
$125,094.05 per yr increase 4% per year
5-year lease extension terminating on Jan 31, 2028

900 Granite Dr - Salutations Home
$165,895.43 per yr increase 3% per year
5-year lease extension terminating on May 31, 2028

906 Granite Dr - Stride
$144,000 per yr New Lease / Extension negotiable by the end of this year

Nestled in the heart of Pasadena's retail corridor and boasting a high Walk Score of 96, the property is flanked by a myriad of prominent retailers including Macy's, Trader Joe's, Ann Taylor, Pavilions, T.J.Max, the upcoming Erewhon, CitiBank, Starbucks, Subway, Talbots, Mobil, Ross, LA Fitness, Corner Bakery Cafe, Walgreens, and more.

Don't miss this opportunity to add this strategic asset to your portfolio. This retail center is more than just a property; it's a keystone for future growth and sustainability in one of the most dynamic cities in California!

Highlights

• SoCal Premier Shopping District – Over 600 businesses operate and generate an average day-time population of over 85,000 within a 1-mile radius of center and over $251.6MM in annual retail sales. 
• High-Income Demographics – 5,000 luxury residential units built within the downtown since 1999. The average household income within 5-mile of the property exceeds $134,992. 
• Embedded Annual Increases –  Rarely found 3% to 4% annual increases, providing a hedge against inflation.
• Redevelopment Potential  – Zoning - Central District Specific Plan is pretty encouraging for potential condominium/apt/student dorm development.
• An Excellent Opportunity - For investors looking for an up-leg property on their 1031-exchange with low to minimal management responsibility
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Documents

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