Two-Story Office
For Sale
$4,300,000
910 San Pasqual St, Pasadena, CA 91106
Flexible office property with basement space, on-site parking, and a location near dining, shopping, and public EV charging.
Property Size5,747 SF
Price / SF$748.22
Days on Market12
Property Features for 910 San Pasqual St
General Information
Standard status
Active
Size
5,747 SF
Total Parking Spaces
31
Building Details
Owner Occupied
Yes
Listing Agency:
EXP REALTY
(626) 888-2995
Listed By:
Donald La · License #01928418
(626) 824-8853
Source:
Exprealty
Added: Aug 27
Changed: Sep 6
Last Checked: Sep 6 at 2:24PM
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 EXP REALTY
Investment Insights
Based on property information with market context.
This office property spans two parcels and contains approximately 5,747 square feet across three functional levels. The first floor measures approximately 1,471 square feet and includes polished concrete floors and high exposed ceilings. The second floor offers approximately 3,287 square feet in an open configuration, while the approximately 989-square-foot basement provides additional usable space.
The property includes 31 parking spaces and is located in Pasadena’s South Lake Avenue District, near restaurants, coffee and tea shops, retail, entertainment, and daily services. Tesla Supercharger Station and Pasadena Water and Power public EV charging are within walking distance. The building is currently owner occupied and may be delivered vacant at Close of Escrow.
The property includes 31 parking spaces and is located in Pasadena’s South Lake Avenue District, near restaurants, coffee and tea shops, retail, entertainment, and daily services. Tesla Supercharger Station and Pasadena Water and Power public EV charging are within walking distance. The building is currently owner occupied and may be delivered vacant at Close of Escrow.
Key Highlights
- Approximately 5,747 SF across two parcels
- Approximately 1,471 SF first floor, 3,287 SF second floor, and 989 SF basement
- 31 total parking spaces
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
$123,101
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
2.86%
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%
$2,462,020
$2.5M
Cap Rate 7%
$1,758,586
$1.8M
Cap Rate 9%
$1,367,789
$1.4M
Market Conditions
NOI Build-Up for 5,747 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
$193.1K $33.60/SF
− Vacancy
−$29.0K −$5.04/SF
EGI
$164.1K $28.56/SF
− OpEx
−$41.0K −$7.14/SF
NOI
$123.1K $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%
$2,462,020
Cap Rate 7%
$1,758,586
Cap Rate 9%
$1,367,789
Alternative Uses
Best Use
Office B
$1.76M
$1.54M – $2.05M
NOI $123,101 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$129.37M
$113.19M – $150.93M
NOI $9,055,567 @ 7.0% cap · market cap 210.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,544
Businesses Nearby
Explore this area
Business Placement
Demographics for 91106, CA
24,172
Population
11,809
Households
2
Avg Household Size
38
Median Age
63%
College-Educated
94%
High-School Grad
2.7 sq mi
ZIP Area
8,953
Density / Sq Mi
$89,213
Median Household Income
$59,700
Median Earnings
$2,096
Median Rent
$966,700
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 - Flexible office property with basement space, on-site parking, and a location near dining, shopping, and public EV charging.
Where is this office building located?
The property is located at 910 San Pasqual St Pasadena, CA.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Approximately 5,747 SF across two parcels; Approximately 1,471 SF first floor, 3,287 SF second floor, and 989 SF basement; 31 total parking spaces
