87 Raymond AvePasadena, CA 91103

Property Details for 87 Raymond Ave

Year built

1913

Construction

TILT-UP CONCRETE

Lot size

0.12 AC

Property size (Sq ft)

47,086 SF

Zone code

PSC-

Property type

Retail space

APN

5723-022-008

APU

5723022008

Description

This stunning 9-story, 62,300 square foot creative office building in Pasadena, Los Angeles County, presents a unique investment opportunity. Built in 1913 and extensively renovated in 2018, this Class B property boasts multiple available spaces ranging from 2,300 to 4,775 square feet. The building sits on a 5,344 square foot lot and features two elevators for convenient access to all nine floors. Each floor offers desirable features including concrete flooring, a kitchenette, and restrooms, along with direct stair and elevator access. Enjoy breathtaking views of Pasadena and the San Gabriel Mountains from your office. The building's upgraded common areas, lobby, and elevators enhance the overall aesthetic and functionality. This prime location offers unparalleled convenience, with hundreds of dining and shopping options within walking distance. The building's excellent neighbors include Osawa, Slaters 50/50, and Kaviar Sushi, adding to the vibrant atmosphere. Multiple floor plans are available, providing flexibility for various business needs. This is a rare chance to secure a prestigious office space in a highly sought-after location. The property's size and amenities make it ideal for a variety of businesses seeking a unique and inspiring work environment. The number of parking spaces is not specified.

• CAP approach

  CAP return

  Valuation

  6%

  $14,361,800

  6.5%

  $13,257,100

  7%

  $12,310,100

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,273,260

  Geo Method

  $9,312,030

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $25,769,800

  Mixed-Use / Specialty

  $13,243,300

  Hospitality / Lodging

  $9,759,720

  Office

  $13,199,400

  Institutional / Educational

  $13,779,600

  Residential Income

  $16,122,100

  Multifamily

  $19,150,500

  Automotive / Energy

  $11,811,100

  Parking / Income-Based Land

  $4,042,810

  Restaurant / Food Service

  $6,959,330

  Healthcare / Senior Housing

  $13,546,400

Location Insight

City

Pasadena

County

Los Angeles

State

California

Latitude

34.1474

Longitude

-118.149

CBSA code

31080

CBSA name

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

Property Tax & Assessments

FAQs

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