Free-Standing Single-Story Office
For Sale
Contact for pricing
Pending
507 Mission Street, South Pasadena, CA 91030
Single-story office building with three suites, currently 100% occupied, and 11 surface parking spaces.
Property Size6,850 SF
Days on Market188
Property Features for 507 Mission Street
General Information
Standard status
Pending
Size
6,850 SF
Total Parking Spaces
11
Property subtype
Office
Zoning
DTSP - Mixed Use Core Zone
Occupancy
100%
Investment Type
Owner/User
Additional Details
Office Units
3
Building Details
Year Built
1927
Stories
1
Units
11
Tenancy
Multi
Listing Agency:
CBRE LA
Listed By:
Jenny Eng · License #CA 01931224
(239) 631-8788
Source:
Crexi
Added: Apr 16
Changed: Oct 15
Last Checked: Oct 19 at 5:36AM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$149,736
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,994,720
$3.0M
Cap Rate 7%
$2,139,086
$2.1M
Cap Rate 9%
$1,663,733
$1.7M
Market Conditions
NOI Build-Up for 6,850 SF
Gross rent
$263.0K $38.40/SF
− Vacancy
−$63.4K −$9.25/SF
EGI
$199.6K $29.15/SF
− OpEx
−$49.9K −$7.29/SF
NOI
$149.7K $21.86/SF
Area
Los Angeles County, CA
Vacancy
24.10%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,994,720
Cap Rate 7%
$2,139,086
Cap Rate 9%
$1,663,733
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 authorities.
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Property Analytics
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Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
1,074
Businesses Nearby
Explore this area
Business Placement
Demographics for 91030, CA
26,927
Population
11,040
Households
2.4
Avg Household Size
41
Median Age
73%
College-Educated
97%
High-School Grad
3.4 sq mi
ZIP Area
7,920
Density / Sq Mi
$128,105
Median Household Income
$79,571
Median Earnings
$2,218
Median Rent
$1,545,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
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
