Freestanding Flex Space with Bay
For Sale
$3,500,000
2041 E Villa, Pasadena, CA 91107
The building combines offices, showroom, storage areas, lobby, and a ground-level bay door.
Property Size7,539 SF
Lot Size0.34 Acres
Price / SF$464.25
Days on Market8
Property Features for 2041 E Villa
General Information
Standard status
Active
Size
7,539 SF
Total Parking Spaces
13
Lot size
0.34 Acres
Property subtype
Industrial
Zoning
CL
Additional Details
Highway Access
Yes
Drive-In Doors
1
Building Details
Building Size
7,539 SF
Year Built
1967
Buildings
1
Tenancy
Single
Abandoned
No
Listing Agency:
Coldwell Banker Realty
(949) 307-1210
Listed By:
Michael Douglas · License #01350443
Source:
Velocityrealtysd
Added: Aug 5
Changed: Aug 12
Last Checked: Aug 12 at 2:29AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This freestanding flex-space property contains approximately 7,539 square feet on a 15,001-square-foot lot. The building includes three offices, two bathrooms, two storage rooms, a showroom, and a lobby, along with 13 parking spaces and one ground-level bay door. Constructed in 1967, the property is occupied by a single tenant under a lease scheduled to expire in April 2027.
Located at 2041 E Villa in Pasadena, the property carries CL (Commercial Limited) zoning and sits within a mix of industrial, commercial, and residential uses. Its central San Gabriel Valley setting provides access to major freeway corridors. The existing configuration offers a combination of office, showroom, storage, and light-industrial space within a single commercial building.
Located at 2041 E Villa in Pasadena, the property carries CL (Commercial Limited) zoning and sits within a mix of industrial, commercial, and residential uses. Its central San Gabriel Valley setting provides access to major freeway corridors. The existing configuration offers a combination of office, showroom, storage, and light-industrial space within a single commercial building.
Key Highlights
- Approximately 7,539 SF freestanding building on a 15,001 SF lot
- CL (Commercial Limited) zoning
- Single‑tenant occupancy with lease expiration in April 2027
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
$190,563
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
5.44%
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%
$3,811,260
$3.8M
Cap Rate 7%
$2,722,329
$2.7M
Cap Rate 9%
$2,117,367
$2.1M
Market Conditions
NOI Build-Up for 7,539 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
$278.6K $36.96/SF
− Vacancy
−$6.4K −$0.85/SF
EGI
$272.2K $36.11/SF
− OpEx
−$81.7K −$10.83/SF
NOI
$190.6K $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%
$3,811,260
Cap Rate 7%
$2,722,329
Cap Rate 9%
$2,117,367
Alternative Uses
Best Use
Retail
$2.72M
$2.38M – $3.18M
NOI $190,563 @ 7.0% cap · market cap 5.44%
Second Best
Office B
$2.31M
$2.02M – $2.69M
NOI $161,485 @ 7.0% cap · market cap 4.61%
Theoretical Best
Multifamily LT 5
$169.70M
$148.49M – $197.99M
NOI $11,879,227 @ 7.0% cap · market cap 339.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,067
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - The building combines offices, showroom, storage areas, lobby, and a ground-level bay door.
Where is this flex space located?
The property is located at 2041 E Villa Pasadena, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Approximately 7,539 SF freestanding building on a 15,001 SF lot; CL (Commercial Limited) zoning; Single‑tenant occupancy with lease expiration in April 2027
