Corner Office
New
For Sale
$1,544,000
735 Orange Grove Boulevard Unit 350C, Pasadena, CA 91103
Modern office unit within a mixed-use project with FGSP-C-3D zoning.
Property Size2,578 SF
Price / SF$598.91
Days on Market2
Property Features for 735 Orange Grove Boulevard Unit 350C
General Information
Standard status
Active
Size
2,578 SF
Class
A
Property subtype
Office - General Office
Zoning
FGSP-C-3D
Additional Details
Highway Access
Yes
Building Details
Building Size
2,578 SF
Year Built
2023
Listing Agency:
Lee & Associates - Pasadena
Listed By:
Mauricio Olaiz · License #02073450
(626) 841-1864
Source:
Commercialcafe
Added: Sep 1
Last Checked: Sep 2 at 1:50PM
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 Lee & Associates - Pasadena
Investment Insights
Based on property information with market context.
Unit 350C is a corner office condominium at 735 Orange Grove Boulevard in Pasadena. The 2,578-square-foot unit was constructed in 2023 and is part of the Lincoln @ Orange Grove mixed-use project. Its contemporary office configuration and FGSP-C-3D zoning support professional office use within a newer commercial setting.
The property occupies the intersection of Orange Grove Boulevard and Lincoln Avenue in Northwest Pasadena. The location is near the Rose Bowl, Old Town, and major freeways, providing a Pasadena setting with access to established destinations and regional transportation routes.
The property occupies the intersection of Orange Grove Boulevard and Lincoln Avenue in Northwest Pasadena. The location is near the Rose Bowl, Old Town, and major freeways, providing a Pasadena setting with access to established destinations and regional transportation routes.
Key Highlights
- 2,578 SF corner office condominium
- Constructed in 2023
- Located within the Lincoln @ Orange Grove mixed‑use project
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
$55,221
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
3.58%
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%
$1,104,420
$1.1M
Cap Rate 7%
$788,871
$788.9K
Cap Rate 9%
$613,567
$613.6K
Market Conditions
NOI Build-Up for 2,578 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
$86.6K $33.60/SF
− Vacancy
−$13.0K −$5.04/SF
EGI
$73.6K $28.56/SF
− OpEx
−$18.4K −$7.14/SF
NOI
$55.2K $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%
$1,104,420
Cap Rate 7%
$788,871
Cap Rate 9%
$613,567
Alternative Uses
Best Use
Office B
$788.9K
$690.3K – $920.4K
NOI $55,221 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$58.03M
$50.78M – $67.70M
NOI $4,062,163 @ 7.0% cap · market cap 263.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,719
Businesses Nearby
Explore this area
Business Placement
Demographics for 91103, CA
26,887
Population
9,392
Households
2.9
Avg Household Size
39
Median Age
38%
College-Educated
80%
High-School Grad
4.6 sq mi
ZIP Area
5,845
Density / Sq Mi
$84,683
Median Household Income
$43,591
Median Earnings
$1,925
Median Rent
$960,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Modern office unit within a mixed-use project with FGSP-C-3D zoning.
Where is this office units located?
The property is located at 735 Orange Grove Boulevard Unit 350C Pasadena, CA.
What is the asking price?
The asking price for this property is $1,544,000.
What are key features of this property?
This property features: 2,578 SF corner office condominium; Constructed in 2023; Located within the Lincoln @ Orange Grove mixed‑use project
