R&D Flex Industrial
For Sale
$14,240,000
24 - 98 North San Gabriel Boulevard, Pasadena, CA 91107
100% NNN leased R&D and light manufacturing site with lab buildouts, executive offices, and multiple loading doors.
Days on Market53
Property Features for 24 - 98 North San Gabriel Boulevard
General Information
Standard status
Active
Property subtype
Industrial
Occupancy
100%
Warehouse & Industrial
Clear Height
15 ft
Heavy Power
Yes
Additional Details
Cap Rate
6%
Building Details
Year Built
1945
Tenancy
Single
Listing Agency:
NAI Capital
(626) 660-8228
Listed By:
John S. Archibald · License #CalDRE #00996775
(626) 660-8228
Source:
Naiglobal
Added: Jun 11
Changed: Jul 10
Last Checked: Aug 2 at 4:31AM
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 NAI Capital
Investment Insights
Based on property information with market context.
State-of-the-art R&D/flex industrial facility built for lab-focused operations, currently 100% NNN leased to Captura Corporation as its global headquarters, lab, and manufacturing facility. The property includes multi-million-dollar laboratory buildouts alongside executive offices and premium high-end improvements suitable for advanced research, development, and light manufacturing/flex uses. Functionally, the facility offers 2,600A power, 15' clear height, and four loading doors, supported by 44+ parking spaces.
Located at 24–98 North San Gabriel Boulevard in Pasadena, California, the asset benefits from an all-corporate tenant occupancy structure with a lease in place through 11/30/2030, plus a five-year renewal option at FMV with a minimum of 103%. Current operating performance is reported as NOI of $854,629 as of 12/1/2026, with 6.0% cap rate referenced in the materials.
For buyers seeking a stabilized, tenant-driven R&D/flex profile, this offering pairs specialized lab improvements with warehouse/logistics functionality, including clear height and multiple loading doors. The lease is fully in place with annual rental increases of 3%, aligning well with investors looking for an institutional-style industrial cash flow structure backed by a single, long-term corporate tenant.
Located at 24–98 North San Gabriel Boulevard in Pasadena, California, the asset benefits from an all-corporate tenant occupancy structure with a lease in place through 11/30/2030, plus a five-year renewal option at FMV with a minimum of 103%. Current operating performance is reported as NOI of $854,629 as of 12/1/2026, with 6.0% cap rate referenced in the materials.
For buyers seeking a stabilized, tenant-driven R&D/flex profile, this offering pairs specialized lab improvements with warehouse/logistics functionality, including clear height and multiple loading doors. The lease is fully in place with annual rental increases of 3%, aligning well with investors looking for an institutional-style industrial cash flow structure backed by a single, long-term corporate tenant.
Key Highlights
- 100% NNN leased R&D/flex industrial facility to Captura Corporation
- NOI of $854,629 as of 12/1/2026, with 6.0% cap rate and 3% annual rental increases
- 4.5 years remaining lease term to 11/30/2030 plus a 5‑year renewal option at FMV (minimum 103%)
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
100%
Occupancy
Single-tenant
Tenancy
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
2,547
Businesses Nearby
Under-served
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
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Frequently Asked Questions
What type of property is this?
Flex space - 100% NNN leased R&D and light manufacturing site with lab buildouts, executive offices, and multiple loading doors.
Where is this flex space located?
The property is located at 24 - 98 North San Gabriel Boulevard Pasadena, CA.
What is the asking price?
The asking price for this property is $14,240,000.
What are key features of this property?
This property features: 100% NNN leased R&D/flex industrial facility to Captura Corporation; NOI of $854,629 as of 12/1/2026, with 6.0% cap rate and 3% annual rental increases; 4.5 years remaining lease term to 11/30/2030 plus a 5‑year renewal option at FMV (minimum 103%)
