Mixed-Use Storefront
For Sale
$2,600,000
3607-3611 East Colorado Boulevard, Pasadena, CA 91107
Ground-floor commercial space is paired with upper-level residential units along Colorado Boulevard.
Property Size6,250 SF
Lot Size0.13 Acres
Price / SF$416
Days on Market488
Property Features for 3607-3611 East Colorado Boulevard
General Information
Standard status
Active
Size
6,250 SF
Lot size
0.13 Acres
Property subtype
Commercial Sale / Mixed Use
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Building Details
Year Built
1959
Buildings
1
Listing Agency:
Pinnacle Real Estate Group
(626) 888-9808
Listed By:
MAX HOO · License #01903286
(626) 888-9808
Source:
Compass
Added: Apr 29, 2025
Changed: Aug 29
Last Checked: Aug 29 at 2:40PM
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 Pinnacle Real Estate Group
Investment Insights
Based on property information with market context.
This mixed-use property combines ground-floor retail or office storefronts with upper-level residential units in a single building. The property contains approximately 6250 SF on an approximately 0.13 AC lot and was built in 1959. Its configuration accommodates commercial and residential uses within the same asset, with the storefront component positioned along Colorado Boulevard.
The property is located near Pasadena City College, Caltech, and the Rose Parade route. Restaurants, shopping, banking, and community services are nearby. Access is supported by proximity to the 210 Freeway, Metro stations, and bus lines, while the Pasadena Police Department is also in the surrounding area.
The property is located near Pasadena City College, Caltech, and the Rose Parade route. Restaurants, shopping, banking, and community services are nearby. Access is supported by proximity to the 210 Freeway, Metro stations, and bus lines, while the Pasadena Police Department is also in the surrounding area.
Key Highlights
- Mixed‑use configuration with ground‑floor retail or office and upper‑level residential units
- Approximately ±6250 SF building on an approximately ±0.13 AC lot
- Located at 3607‑3611 East Colorado Boulevard, Pasadena, CA 91107
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
$157,981
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
6.08%
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%
$3,159,620
$3.2M
Cap Rate 7%
$2,256,871
$2.3M
Cap Rate 9%
$1,755,344
$1.8M
Market Conditions
NOI Build-Up for 6,250 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
$231.0K $36.96/SF
− Vacancy
−$5.3K −$0.85/SF
EGI
$225.7K $36.11/SF
− OpEx
−$67.7K −$10.83/SF
NOI
$158.0K $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%
$3,159,620
Cap Rate 7%
$2,256,871
Cap Rate 9%
$1,755,344
Alternative Uses
Best Use
Apartment 5plus
$124.15M
$108.63M – $144.85M
NOI $8,690,748 @ 7.0% cap · market cap 334.26%
Second Best
Retail
$2.26M
$1.97M – $2.63M
NOI $157,981 @ 7.0% cap · market cap 6.08%
Theoretical Best
Multifamily LT 5
$140.69M
$123.10M – $164.14M
NOI $9,848,145 @ 7.0% cap · market cap 378.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,735
Businesses Nearby
664k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 29%
Groceries 25%
Dining 24%
Apparel 7%
Ralphs
Groceries
58,233 visits/mo
0.3 miles
Trader Joe's
Groceries
46,431 visits/mo
0.5 miles
Dollar Tree
Shops & Services
33,065 visits/mo
0.3 miles
PetSmart
Shops & Services
30,616 visits/mo
0.5 miles
World Market
Home Improvements & Furnishings
26,184 visits/mo
0.1 miles
Demographics for 91107, CA
33,729
Population
14,137
Households
2.4
Avg Household Size
43
Median Age
59%
College-Educated
93%
High-School Grad
8.5 sq mi
ZIP Area
3,968
Density / Sq Mi
$124,880
Median Household Income
$62,250
Median Earnings
$2,311
Median Rent
$1,106,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space is paired with upper-level residential units along Colorado Boulevard.
Where is this mixed-use property located?
The property is located at 3607-3611 East Colorado Boulevard Pasadena, CA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Mixed‑use configuration with ground‑floor retail or office and upper‑level residential units; Approximately ±6250 SF building on an approximately ±0.13 AC lot; Located at 3607‑3611 East Colorado Boulevard, Pasadena, CA 91107
