510 Lake AvePasadena, CA 91101

Property Details for 510 Lake Ave

Year built

1961

Construction

WOOD

Lot size

0.19 AC

Property size (Sq ft)

5,585 SF

Zone code

PSC-

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

5732-016-037

APU

5732016037

Description

This exceptional retail opportunity presents a 5,097 square foot standalone building situated at 510 N Lake Ave in Pasadena, CA 91101. The property boasts a highly visible 55-foot storefront on Lake Avenue, offering excellent exposure to a substantial volume of traffic. With a total of 5,100 square feet currently vacant, this space is divisible into units ranging from a minimum of 2,226 square feet to a maximum contiguous area of 2,871 square feet, providing flexibility for various business needs. Built in 1941, the Class C building sits on a 0.19-acre lot and offers approximately 2.35 parking spaces per 1,000 square feet. Its convenient location is a significant advantage, being just a block and a half north of the 210 Freeway and directly off the 210 Lake Avenue freeway off-ramp. The surrounding area is vibrant, with a concentration of professional offices, retailers, restaurants, and cafes, ensuring high foot traffic and a strong customer base. The property is zoned CL SP-1e (APN: 5732-016-037), making it ideal for a variety of retail uses. This is a rare opportunity to secure a well-located, highly visible retail space in a thriving Pasadena neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $1,496,550

  6.5%

  $1,381,431

  7%

  $1,282,757

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,057,622

  Geo Method

  $1,062,044

• Alternative Use

  Use

  Valuation

  Residential

  $1,712,974

  Hospitality

  $1,569,075

  Educational

  $1,305,452

  Medical

  $1,350,348

  Retail

  $2,030,703

Location Insight

City

Pasadena

County

Los Angeles

State

California

Latitude

34.1548

Longitude

-118.132

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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