Free-Standing Single-Story Office
507 Mission Street South Pasadena, CA 91030
507 Mission Street, South Pasadena, CA, 91030
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For Sale
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Single-story office building with three suites, currently 100% occupied, and 11 surface parking spaces.
Property Size6,850 SF
Price / SF$613.14
Days on Market97
Property Features for 507 Mission Street
General Information
- Standard status
- Active
- Size
- 6,850 SF
- Property subtype
- Office
Building Details
- Year Built
- 1927
Listing agency
CBRE - Glendale
(626) 824-4490
Listed by
Jenny Eng · License #CA 01931224
Source
Crexi
Added: Apr 16 Updated: Jul 21 at 12:41AM Checked: Jul 21 at 12:41AM
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 - Glendale
Investment Insights
Based on property information with market context.
This free-standing, single-story office building was constructed in 1927 and includes approximately 6,850 SF across three suites. The property features high ceilings and flexible floor plans, supporting a range of professional, creative, legal, or medical service office uses. It is currently 100% occupied, with two leases expiring in 2027 that will free up space for owner occupancy or re-leasing, and one long-term tenant maintaining occupancy through 2034.
The building is located along Mission Street in South Pasadena’s Mission District and sits within the DTSP Mixed-Use Core Zone. The property provides 11 surface parking spaces and is described as having walkability to nearby dining and retail, including a Trader Joe’s and the weekly Farmers Market.
The building is located along Mission Street in South Pasadena’s Mission District and sits within the DTSP Mixed-Use Core Zone. The property provides 11 surface parking spaces and is described as having walkability to nearby dining and retail, including a Trader Joe’s and the weekly Farmers Market.
Key Highlights
- Free‑standing single‑story office building built in 1927 at 507‑511 Mission Street, South Pasadena
- 6,850 SF total with three suites on 10,507 SF of land
- Currently 100% occupied; leases expiring in 2027 will free up 4,800 SF, with suite sizes 700 SF and 4,100 SF
Local 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 | $263.0k | $38.40 |
| − Vacancy | −$63.4k | −$9.25 |
| EGI | $199.6k | $29.15 |
| − OpEx | −$49.9k | −$7.29 |
| NOI | $149.7k | $21.86 |
6,850 SF · lease $38.40/SF/yr · vacancy 24.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.14M
$1.87M – $2.50M
NOI $149,736 @ 7.0% cap · market cap 3.57%
Second Best
Healthcare Medical
$1.86M
$1.62M – $2.17M
NOI $129,903 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$3.67M
$3.21M – $4.28M
NOI $256,722 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Yang Zhang Chiropractic
Alternative Medicine Practice
Mission Chiropractic Works
Alternative Medicine Practice
Mission Massage Therapy ...
Alternative Medicine Practice
NextGen Foot - Dr. ...
Physician
Vital Weight Loss ...
Weight Loss Service
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FAQs
What type of property is this?
Office building - Single-story office building with three suites, currently 100% occupied, and 11 surface parking spaces.
Where is this office building located?
The property is located at 507 Mission Street South Pasadena, CA.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Free‑standing single‑story office building built in 1927 at 507‑511 Mission Street, South Pasadena; 6,850 SF total with three suites on 10,507 SF of land; Currently 100% occupied; leases expiring in 2027 will free up 4,800 SF, with suite sizes 700 SF and 4,100 SF
