766 Colorado BlvdPasadena, CA 91101

Property Details for 766 Colorado Blvd

Year built

1918

Construction

TILT-UP CONCRETE

Lot size

0.31 AC

Property size (Sq ft)

21,028 SF

Zone code

PSC-

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

5734-013-005

APU

5734013005

Description

This exceptional 14,574 square foot commercial property at 766 E Colorado Blvd in Pasadena, CA 91101 presents a unique investment opportunity. The building, a Class B property constructed in 1924 and renovated in 2000, offers a blend of historic charm and modern functionality. Currently featuring multiple tenancies, there are three available spaces ranging from 550 to 3,840 contiguous square feet, with a total of 9,264 square feet currently vacant. The property is ideally suited for creative office users, coffee shops, or restaurants, given its "Creative Office" subtype designation. The building sits on a 13,345 square foot lot and comprises one two-story building with one elevator. While the exact number of parking spaces is unavailable, the building does offer elevator access for convenient multi-level use. Second-floor office spaces are anticipated to be completed by August 2024. This prime Pasadena location offers excellent visibility and accessibility, making it an attractive proposition for businesses seeking a unique and well-situated space. The minimum divisible space is 550 square feet, providing flexibility for various business needs.

• CAP approach

  CAP return

  Valuation

  6%

  $6,986,950

  6.5%

  $6,449,493

  7%

  $5,988,815

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,172,154

  Geo Method

  $6,197,961

• Alternative Use

  Use

  Valuation

  Residential

  $6,449,493

  Hospitality

  $5,907,701

  Educational

  $4,915,138

  Medical

  $5,084,177

  Retail

  $7,645,770

Location Insight

City

Pasadena

County

Los Angeles

State

California

Latitude

34.1455

Longitude

-118.134

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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