Two-Story Office
For Sale
Contact for pricing
489 E Colorado Blvd, Pasadena, CA 91101
Two-story office building with 22-foot ceilings, skylights, and private on-site parking.
Property Size7,774 SF
Price / SF$699.77
Days on Market16
Property Features for 489 E Colorado Blvd
General Information
Standard status
Active
Size
7,774 SF
Property subtype
OFFICE
Amenities
22' ceilings
large skylights
conference rooms
Building Details
Buildings
1
Stories
2
Listing Agency:
CBRE
(818) 907-4650
Listed By:
Kyle Barratt · License #01900653
(818) 907-4650
Source:
Moodyscre
Added: Jul 16
Changed: Jul 30
Last Checked: Jul 30 at 11:27PM
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
Investment Insights
Based on property information with market context.
Elegant two-story office building being offered for sale. The property is currently utilized as office space and will be vacant at close of escrow. Interior features include 22-foot ceilings with large skylights, along with office space, conference rooms, and dedicated private parking for on-site use.
The property is located at 489 E Colorado Blvd in Pasadena, CA. This setup supports a straightforward office-user or tenancy transition given the planned vacancy at closing.
With a two-story configuration, high ceilings, and both private parking and conference space already in place, the building offers a practical framework for office operations that benefit from natural light and dedicated parking.
The property is located at 489 E Colorado Blvd in Pasadena, CA. This setup supports a straightforward office-user or tenancy transition given the planned vacancy at closing.
With a two-story configuration, high ceilings, and both private parking and conference space already in place, the building offers a practical framework for office operations that benefit from natural light and dedicated parking.
Key Highlights
- Two‑story office building currently used as office space, vacant at close of escrow
- 22‑foot ceilings with large skylights
- Offices and conference rooms
Financial Insights For Office B
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 | $261.2k | $33.60 |
| − Vacancy | −$39.2k | −$5.04 |
| EGI | $222.0k | $28.56 |
| − OpEx | −$55.5k | −$7.14 |
| NOI | $166.5k | $21.42 |
7,774 SF · lease $33.60/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.38M
$2.08M – $2.78M
NOI $166,519 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$174.99M
$153.12M – $204.16M
NOI $12,249,517 @ 7.0% cap · market cap 225.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
11,169
Businesses Nearby
Explore this area
Business Placement
Demographics for 91101, CA
20,583
Population
12,400
Households
1.7
Avg Household Size
38
Median Age
63%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
15,833
Density / Sq Mi
$94,180
Median Household Income
$62,458
Median Earnings
$2,282
Median Rent
$687,300
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?
Office building - Two-story office building with 22-foot ceilings, skylights, and private on-site parking.
Where is this office building located?
The property is located at 489 E Colorado Blvd Pasadena, CA.
What is the asking price?
The asking price for this property is $5,440,000.
What are key features of this property?
This property features: Two‑story office building currently used as office space, vacant at close of escrow; 22‑foot ceilings with large skylights; Offices and conference rooms
