Two-Story Elevator-Served Office
For Sale
Contact for pricing
670 North Rosemead Boulevard, Pasadena, CA 91107
CO zoning and dedicated surface parking support current office occupancy.
Property Size14,448 SF
Lot Size1.28 Acres
Price / SF$449.89
Days on Market217
Property Features for 670 North Rosemead Boulevard
General Information
Standard status
Active
Size
14,448 SF
Class
B
Total Parking Spaces
43
Elevators
Yes
Lot size
1.28 Acres
Property subtype
Office
Zoning
CO, Pasadena
Additional Details
Highway Access
Yes
Land Use
office, residential
Building Details
Year Built
1975
Buildings
1
Stories
2
Building Size
14,448 SF
Parking Ratio
3 per 1,000 SF
Listing Agency:
Avison Young - Downtown Los Angeles
Listed By:
Patrick Barnes · License #CA 01333182
Source:
Crexi
Added: Feb 13
Changed: Sep 17
Last Checked: Sep 16 at 3:14PM
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 Avison Young - Downtown Los Angeles
Investment Insights
Based on property information with market context.
This two-story office building contains ±14,448 SF on an approximately ±1.28-acre site. Built in 1975, the elevator-served improvement includes dedicated surface parking with 43 spaces at a 3.00/1,000 SF ratio. Low site coverage leaves substantial land area beyond the existing building and supports continued office use by an owner-user or investor.
The property is located in Pasadena at 670 N. Rosemead Boulevard, with access to the 210 and 134 Freeways. Nearby amenities include dining, retail, grocery, and daily services, while Old Town Pasadena, Caltech, and the Rose Bowl are also in the surrounding area. The site is identified with CO zoning in Pasadena and is described as allowing by-right residential density of up to 48 units per acre, creating an additional development consideration alongside the existing office improvements.
The property is located in Pasadena at 670 N. Rosemead Boulevard, with access to the 210 and 134 Freeways. Nearby amenities include dining, retail, grocery, and daily services, while Old Town Pasadena, Caltech, and the Rose Bowl are also in the surrounding area. The site is identified with CO zoning in Pasadena and is described as allowing by-right residential density of up to 48 units per acre, creating an additional development consideration alongside the existing office improvements.
Key Highlights
- ±14,448 SF office building on a ±1.28‑acre site
- Two‑story, elevator‑served office building constructed in 1975
- 43 dedicated surface parking spaces at a 3.00/1,000 SF ratio
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$309,476
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,189,520
$6.2M
Cap Rate 7%
$4,421,086
$4.4M
Cap Rate 9%
$3,438,622
$3.4M
Market Conditions
NOI Build-Up for 14,448 SF
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.
Gross rent
$485.5K $33.60/SF
− Vacancy
−$72.8K −$5.04/SF
EGI
$412.6K $28.56/SF
− OpEx
−$103.2K −$7.14/SF
NOI
$309.5K $21.42/SF
Area
Pasadena, CA
Vacancy
15.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,189,520
Cap Rate 7%
$4,421,086
Cap Rate 9%
$3,438,622
Alternative Uses
Best Use
Office B
$4.42M
$3.87M – $5.16M
NOI $309,476 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$325.23M
$284.57M – $379.43M
NOI $22,765,761 @ 7.0% cap · market cap 350.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,252
Businesses Nearby
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
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
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Frequently Asked Questions
What type of property is this?
Office building - CO zoning and dedicated surface parking support current office occupancy.
Where is this office building located?
The property is located at 670 North Rosemead Boulevard 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: ±14,448 SF office building on a ±1.28‑acre site; Two‑story, elevator‑served office building constructed in 1975; 43 dedicated surface parking spaces at a 3.00/1,000 SF ratio
