100% Vacant Single-Story Retail near Rose Bowl, Seller May Carry

Highlights:

• True value-add Single-story Retail near Rose Bowl Area
• A 100% vacant single-story retail building perfect for an owner-user or a redevelopment
• Approximately ±106ft frontage on Lincoln Ave (buyer to verify)
• Long-time owner since 1988
• Excellent traffic count of ±19,357 VPD on Lincoln Ave and ±123,000 on FWY 210
• Only 2 blocks from FWY 210 Entry/Exit Ramp on Lincoln Ave
• Vacant condition building – used to be a Japanese food retail market with license to sell beer and wine (Beer and Wine Liquor license is included in the sale)
• Zone LA-MU-N (Mixed-Use Neighborhood) allows a wide range of entirely commercial or entirely residential or mixed commercial/residential
• High ceiling interior with built-in cabinets
• Seller Willing to Carry for a QUALIFIED BUYER with these terms: 5-year term, 40% LTV, 6% Interest Rate, No prepayment.
• Gated property with open space parking (6-8 spaces – buyer to verify)
• Good demographics with $121,291 AHH Income within a mile radius
• Corner, south facing lot with great visibility
• Superior access to FWY 210; Easy access to FWY 134, and FWY 110.

Description:

Rare 100% Vacant Single-Story Retail with Parking several blocks from Brookside Golf and Rose Bowl Area, Owner since 1988, Transferable Beer & Wine License included, Seller Will Carry.

Growth Investment Group California is proud to present 1507 Lincoln Ave, a rare standalone vacant retail building near Rose Bowl area in Pasadena. This 100% vacant property provides a unique retail use or a development opportunity. Strategically located on the corner of Lincoln Ave and Del Mar St, this freestanding retail is conveniently located only one block from the FWY 210 entry/exit ramp, and within walking distance to Rose Bowl Area and 2 blocks from Brookfield Golf Course. It has a LA-MU-N zoned (Pasadena Mixed-Use Neighborhood - buyer to verify with the city), which allows for a wide range of commercial or residential or mix of both uses. This property offers excellent visibility with ±106ft Lincoln Ave frontage which provides significant traffic volume (±19k VPD).
It is surrounded by major Pasadena landmarks such as John Muir High School (0.5mile), Brookside Golf Club (2 blocks away), Rose Bowl Area (several blocks), various well-known Museums (2-3miles), Old Pasadena (2.5miles), and other amenities and employment centers in Pasadena. The property was built in 1927, this single-story retail store has a total of 2,139 SF space and situated on a flat 4,049 SF lot. It had been operated as a well-known neighborhood convenience store before the owner retired recently. This property has been in the same ownership family since 1988.
Currently vacant, the property has the flexibility to be upgraded as a retail shop or re developed, suited to the buyer’s desired project. Excellent visibility of a 124FT long street frontage on Lincoln Ave, 6 to 8 on-site parking spaces (depending on how buyer configure it – buyer to verify), plus plenty of additional street parking on Lincoln Ave and Del Monte St. A transferable beer and wine license (buyer to verify) is also included in the sale, adding significant value to this income-generating retail asset.
The only neighborhood convenience store in the area surrounded by residential brings the opportunity well-suited for owner-users, investors pursuing steady cash flow, or buyers looking to enhance value through alternative retail concepts. It has good demographics with $121,291 AHH Income within a mile radius.
The property is located at the corner of Lincoln Ave and Del Monte St, just walking distance from Brookfield Golf Course and Rose Bowl area which housed Rose Bowl Stadium, Rose Bowl Aquatic Center, Kidspace Children’s Museum, Rose Bowl Flea Market and Brookside Golf Club. Its wide frontage on Lincoln Ave and high traffic volume of 19,357 VPD, combined with only 2 blocks away from FWY 210 entry/exit ramps made this property a perfect retail location for an owner-user or investor.
It is minutes away from Old Town Pasadena, and near almost all amenities City of Pasadena has to offer such as The Paseo on Colorado, South Lake Ave shopping area, museums, theaters, entertainments, groceries, cafes, shops and other fantastic amenities in Pasadena. The property has superb access to FWY 210 and 110 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway. It is minutes away from FWY 110 that connects to Downtown Los Angeles.

LA-MU-N (Mixed-Use Neighborhood).  
• Allow pedestrian-oriented ground floor commercial uses.
• Support projects that are entirely commercial, entirely residential, or a mix of the two, integrated either horizontally or vertically.

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