911 Colorado BlvdPasadena, CA 91106

Property Details for 911 Colorado Blvd

Year built

1984

Construction

TILT-UP CONCRETE

Lot size

0.18 AC

Property size (Sq ft)

27,571 SF

Zone code

PSC*

Property type

Office buildings

APN

5738-008-065

APU

5738008065

Description

This stunning three-story, 24,956 square foot office building, located at 911 E Colorado Blvd in Pasadena, CA 91106, presents a unique owner-user opportunity. Built in 1926 and renovated in 1984, this Gothic-Revival style building, designed by Architect Wendall W. Warren, boasts a rich history, having served as the Lieberg Department Store, the Brown Derby Restaurant, and the home of the Pasadena Star-News. Currently, approximately 5,384 square feet of ground floor space is leased to Life Source Water, generating investment income (rent roll available upon request). The remaining approximately 19,572 square feet is available to the owner-user, including approximately 12,892 square feet on the second and third floors and approximately 6,680 square feet on the lower level, suitable for offices or storage. Situated at the northern end of Pasadena's South Lake Avenue District, a vibrant area with over 600 businesses and significant Class A office space, this property offers an irreplaceable headquarters location for a variety of businesses, including law firms, accounting firms, technology companies, science firms, media companies, or creative office users. The building is conveniently located two blocks from the 210/134 freeway on-ramp, providing easy access to Downtown Los Angeles, the San Gabriel Valley, and the San Fernando Valley. Public transportation is also readily available, with the Gold Line's Lake Avenue Station just two blocks away. Pasadena's favorable business climate, with no city business, parking, or utility taxes, further enhances the appeal of this exceptional property. The asking price is $14,800,000 ($593.04 per square foot). The lot size is 7,767 square feet, and the property is zoned PD-10 AD-2. The APN is 5738-008-065. While not currently on the National Register of Historic Places, the building is age-eligible for historic evaluation and meets CEQA thresholds as a historic resource.

• CAP approach

  CAP return

  Valuation

  6%

  $7,387,892

  6.5%

  $6,819,592

  7%

  $6,332,479

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,221,072

  Geo Method

  $5,242,902

• Alternative Use

  Use

  Valuation

  Residential Income

  $8,456,295

  Hospitality / Lodging

  $7,745,920

  Institutional / Educational

  $6,444,515

  Healthcare / Senior Housing

  $6,666,152

  Retail / Commercial

  $10,024,801

Location Insight

City

Pasadena

County

Los Angeles

State

California

Latitude

34.1463

Longitude

-118.132

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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