Pasadena Manufacturing Property For
For Sale
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848 N Fair Oaks Ave, Pasadena, CA 91103
Manufacturing property in Pasadena, delivered vacant upon close of escrow.
Property Size10,050 SF
Price / SF$297.31
Days on Market2999
Property Features for 848 N Fair Oaks Ave
General Information
Standard status
Active
Size
10,050 SF
Property subtype
Office, Industrial
Zoning
Fair Oaks Orange Grove Specific Plan
Investment Type
Owner/User
Building Details
Year Built
1962
Listing Agency:
Lee & Associates - Newport Beach
(949) 930-6292
Listed By:
John Gessford · License #CA 01137479
Source:
Crexi
Added: Jun 11, 2018
Changed: Aug 11
Last Checked: Aug 25 at 2:30PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates - Newport Beach
Investment Insights
Based on property information with market context.
This property is currently occupied by the owner for manufacturing purposes and will be delivered vacant upon the close of escrow. The building offers 10,050 square feet of space. According to the property website, further details are available in the Offering Memorandum. The property has potential for residential, multi-family use.
Key Highlights
- Delivered vacant upon close of escrow.
- Potential for residential, multi‑family development.
- Currently used for manufacturing.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$124,847
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,496,940
$2.5M
Cap Rate 7%
$1,783,529
$1.8M
Cap Rate 9%
$1,387,189
$1.4M
Market Conditions
NOI Build-Up for 10,050 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$190.5K $18.96/SF
− Vacancy
−$12.2K −$1.21/SF
EGI
$178.4K $17.75/SF
− OpEx
−$53.5K −$5.32/SF
NOI
$124.8K $12.42/SF
Area
Pasadena, CA
Vacancy
6.40%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,496,940
Cap Rate 7%
$1,783,529
Cap Rate 9%
$1,387,189
Alternative Uses
Best Use
Industrial
$1.78M
$1.56M – $2.08M
NOI $124,847 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$226.23M
$197.95M – $263.93M
NOI $15,835,818 @ 7.0% cap · market cap 529.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,189
Businesses Nearby
Explore this area
Business Placement
Demographics for 91103, CA
26,887
Population
9,392
Households
2.9
Avg Household Size
39
Median Age
38%
College-Educated
80%
High-School Grad
4.6 sq mi
ZIP Area
5,845
Density / Sq Mi
$84,683
Median Household Income
$43,591
Median Earnings
$1,925
Median Rent
$960,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Manufacturing property in Pasadena, delivered vacant upon close of escrow.
Where is this manufacturing property located?
The property is located at 848 N Fair Oaks Ave Pasadena, CA.
What is the asking price?
The asking price for this property is $2,988,000.
What are key features of this property?
This property features: Delivered vacant upon close of escrow.; Potential for residential, multi‑family development.; Currently used for manufacturing.
