Pasadena Corner Lot
For Sale
Contact for pricing
1975 Lincoln Ave, Pasadena, CA 91103
Freestanding building in Pasadena's emerging commercial corridor.
Property Size5,709 SF
Price / SF$578.03
Days on Market215
Property Features for 1975 Lincoln Ave
General Information
Standard status
Active
Size
5,709 SF
Property subtype
Retail
Zoning
Lincoln Avenue Specific Plan (LASP)
Building Details
Year Built
1968
Listing Agency:
SRS Real Estate Partners Newport Beach
Listed By:
Carlos Lopez · License #CA 00980904
Source:
Crexi
Added: Jan 26
Changed: Aug 21
Last Checked: Aug 29 at 4:32AM
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 SRS Real Estate Partners Newport Beach
Investment Insights
Based on property information with market context.
Located on a prominent corner lot with approximately 126 feet of frontage along Lincoln Avenue, this freestanding building presents an owner-user opportunity. The property is situated at the heart of the City of Pasadena’s Lincoln Avenue Specific Plan (LASP) and designated LA-CG (Lincoln Avenue – Commercial General) zoning. The LASP was adopted to intentionally repurpose the Lincoln Avenue corridor from legacy industrial and limited commercial uses into a vibrant, walkable, neighborhood-serving commercial district, encouraging retail, service, office, and community-oriented uses. The zoning framework is designed for owner-users, allowing customer-facing businesses to capitalize on a growing, affluent Pasadena trade area with strong local demand for neighborhood-serving commercial. LA-CG zoning is designed to activate street frontage and support walkable, mixed-activity environments, favoring storefronts and visible customer-facing operations over auto-oriented or industrial uses. Permitted uses include restaurants and cafés, specialty retail, professional and medical offices, fitness and wellness, personal services, education, creative and technology offices, and other neighborhood-serving businesses that generate consistent daytime and evening traffic. The City of Pasadena is actively positioning Lincoln Avenue as a “main street” commercial spine, supported by streetscape improvements, reduced industrial intensity, and development standards that prioritize pedestrian engagement, local convenience, and repeat neighborhood customers. The property is located in North Pasadena, proximate to Interstate 210 (136K+ VPD), and benefits from strong regional connectivity and affluent surrounding neighborhoods including Altadena and La Cañada Flintridge. The trade area features average household incomes of $145,536 / $159,452 / $169,494 within 1-, 3-, and 5-miles, respectively, supported by a residential population of 19,317 / 114,936 / 296,892 across the same radii. Pasadena’s economy is anchored by a highly educated workforce and major institutional employers, including NASA’s Jet Propulsion Laboratory (6,700+ employees) and Kaiser Permanente (6,500+ employees). The property size is 5709 square feet.
Key Highlights
- Rare owner‑user opportunity in Pasadena's emerging commercial corridor.
- Located within the Lincoln Avenue Specific Plan (LASP) with LA‑CG zoning, designed to encourage vibrant, walkable, neighborhood‑serving commercial uses.
- Prominent corner lot with approximately 126 feet of frontage on Lincoln Avenue.
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
$144,306
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
4.37%
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%
$2,886,120
$2.9M
Cap Rate 7%
$2,061,514
$2.1M
Cap Rate 9%
$1,603,400
$1.6M
Market Conditions
NOI Build-Up for 5,709 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
$211.0K $36.96/SF
− Vacancy
−$4.9K −$0.85/SF
EGI
$206.2K $36.11/SF
− OpEx
−$61.8K −$10.83/SF
NOI
$144.3K $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%
$2,886,120
Cap Rate 7%
$2,061,514
Cap Rate 9%
$1,603,400
Alternative Uses
Best Use
Retail
$2.06M
$1.80M – $2.41M
NOI $144,306 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$128.51M
$112.45M – $149.93M
NOI $8,995,690 @ 7.0% cap · market cap 272.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
795
Businesses Nearby
53k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 94%
Shops & Services 6%
McDonald's
Dining
32,964 visits/mo
0.3 miles
Panda Express
Dining
10,363 visits/mo
0.4 miles
Stumptown Coffee Roasters
Dining
6,590 visits/mo
0.1 miles
U-Haul Moving & Storage Of Altadena
Shops & Services
3,325 visits/mo
0.5 miles
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 Retail in West region
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Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding building in Pasadena's emerging commercial corridor.
Where is this storefront property located?
The property is located at 1975 Lincoln Ave Pasadena, CA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Rare owner‑user opportunity in Pasadena's emerging commercial corridor.; Located within the Lincoln Avenue Specific Plan (LASP) with LA‑CG zoning, designed to encourage vibrant, walkable, neighborhood‑serving commercial uses.; Prominent corner lot with approximately 126 feet of frontage on Lincoln Avenue.
