Prime Pasadena Retail Storefront
396-400 S Lake Avenue Pasadena, CA 91101
For Sale
Contact for pricing
Highly visible retail asset in Pasadena's South Lake Avenue District.
Property Size8,250 SF
Lot Size0.21 Acres
Price / SF$787.88
Days on Market178
Property Features for 396-400 S Lake Avenue
General Information
Standard status
Active
Size
8,250 SF
Lot size
0.21 Acres
Property subtype
Retail
Building Details
Year Built
1952
Listing Agency:
CBRE LA
(626) 824-4490
Listed By:
Jenny Eng · License #CA 01931224
Source:
Crexi
Added: Jan 30
Changed: Jul 10
Last Checked: Jul 26 at 7:15AM
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 CBRE LA
Investment Insights
Based on property information with market context.
This is an opportunity to acquire an approximately 8,250 square foot storefront retail asset located in the South Lake Avenue District of Pasadena. The property, constructed in 1952, is situated on an approximately 9,015 square foot parcel with CD-CL (Central District Commercial Limited) zoning. The property features frontage on Lake Avenue and signage visibility, with walkability to retail and lifestyle destinations. The location is near the new Erewhon Market and The Shops on Lake Avenue, as well as national retailers, fitness studios, and restaurants. The South Lake Avenue District is a 12-block lifestyle corridor known for shopping and dining, blending national brands with local establishments. The property is positioned for long-term value creation through lease-up, repositioning, or redevelopment. The property is intended for use as a storefront retail asset.
Key Highlights
- Prime location in Pasadena's prestigious South Lake Avenue District, known for sophisticated shopping and dining.
- High‑visibility storefront retail asset with prominent Lake Avenue frontage and exceptional signage opportunities.
- Located on a ±9,015 SF parcel with favorable CD‑CL zoning, offering potential for strategic lease‑up, creative repositioning, or ground‑up redevelopment.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $304.9k | $36.96 |
| − Vacancy | −$7.0k | −$0.85 |
| EGI | $297.9k | $36.11 |
| − OpEx | −$89.4k | −$10.83 |
| NOI | $208.5k | $25.28 |
8,250 SF · lease $36.96/SF/yr · vacancy 2.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.98M
$2.61M – $3.48M
NOI $208,535 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$185.71M
$162.49M – $216.66M
NOI $12,999,552 @ 7.0% cap · market cap 199.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
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Frequently Asked Questions
What type of property is this?
Storefront property - Highly visible retail asset in Pasadena's South Lake Avenue District.
Where is this storefront property located?
The property is located at 396-400 S Lake Avenue Pasadena, CA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Prime location in Pasadena's prestigious South Lake Avenue District, known for sophisticated shopping and dining.; High‑visibility storefront retail asset with prominent Lake Avenue frontage and exceptional signage opportunities.; Located on a ±9,015 SF parcel with favorable CD‑CL zoning, offering potential for strategic lease‑up, creative repositioning, or ground‑up redevelopment.
