Rare Infill Investment
For Sale
Contact for pricing
1260 N Lake Ave, Pasadena, CA 91104
For sale: infill property with a new 15-year lease.
Property Size15,390 SF
Price / SF$800
Days on Market135
Property Features for 1260 N Lake Ave
General Information
Standard status
Active
Size
15,390 SF
Class
A
Property subtype
Retail, Office, Special Purpose
Zoning
CL
Listing Agency:
Colliers - San Diego - Carlsbad, California
Listed By:
Jay Patel · License #01512624
Source:
Crexi
Added: Mar 27
Changed: Aug 8
Last Checked: Aug 8 at 6:23AM
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 Colliers - San Diego - Carlsbad, California
Investment Insights
Based on property information with market context.
This commercial real estate offering features a rare infill location. The property is currently under a brand new 15-year lease with a corporate guaranty. The property is suitable for retail, office, and specialty purposes.
Key Highlights
- Brand new 15‑year lease offers long‑term stability.
- Corporate guaranty provides added security.
- Rare infill offering in a desirable location.
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
$389,012
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
3.16%
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%
$7,780,240
$7.8M
Cap Rate 7%
$5,557,314
$5.6M
Cap Rate 9%
$4,322,356
$4.3M
Market Conditions
NOI Build-Up for 15,390 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
$568.8K $36.96/SF
− Vacancy
−$13.1K −$0.85/SF
EGI
$555.7K $36.11/SF
− OpEx
−$166.7K −$10.83/SF
NOI
$389.0K $25.28/SF
Area
Pasadena, CA
Vacancy
2.30%
Lease Rate
$36.96 /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%
$7,780,240
Cap Rate 7%
$5,557,314
Cap Rate 9%
$4,322,356
Alternative Uses
Best Use
Retail
$5.56M
$4.86M – $6.48M
NOI $389,012 @ 7.0% cap · market cap 3.16%
Second Best
Office B
$4.71M
$4.12M – $5.49M
NOI $329,654 @ 7.0% cap · market cap 2.68%
Theoretical Best
Multifamily LT 5
$346.43M
$303.13M – $404.17M
NOI $24,250,073 @ 7.0% cap · market cap 196.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,164
Businesses Nearby
Explore this area
Business Placement
Demographics for 91104, CA
34,707
Population
14,381
Households
2.4
Avg Household Size
42
Median Age
51%
College-Educated
88%
High-School Grad
3.8 sq mi
ZIP Area
9,133
Density / Sq Mi
$103,052
Median Household Income
$53,827
Median Earnings
$2,040
Median Rent
$1,022,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail property - For sale: infill property with a new 15-year lease.
Where is this retail property located?
The property is located at 1260 N Lake Ave Pasadena, CA.
What is the asking price?
The asking price for this property is $12,312,000.
What are key features of this property?
This property features: Brand new 15‑year lease offers long‑term stability.; Corporate guaranty provides added security.; Rare infill offering in a desirable location.
