Renovated Office
For Sale
Contact for pricing
911 E Colorado Blvd, Pasadena, CA 91106
Four-unit commercial property with CD-MU-G zoning and access to Old Pasadena amenities, dining, shopping, and transit.
Property Size27,571 SF
Price / SF$489.64
Days on Market308
Property Features for 911 E Colorado Blvd
General Information
Standard status
Active
Size
27,571 SF
Property subtype
Office
Zoning
CD-MU-G
Occupancy
47%
Building Details
Year Built
1926
Year Renovated
1984
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
SVN | Rich Investment Real Estate Partners Los Angeles
(818) 324-5386
Listed By:
Michael Chang · License #CA 01880895
Source:
Crexi
Added: Oct 27, 2025
Changed: Aug 30
Last Checked: Mar 26 at 12:30AM
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 SVN | Rich Investment Real Estate Partners Los Angeles
Investment Insights
Based on property information with market context.
The property is a 27,571 SF office building containing 4 units. Originally built in 1926, it underwent renovation in 1984 and is currently 43% occupied. The CD-MU-G zoning supports office and commercial uses as identified in the property information.
Located at 911 E Colorado Blvd in Pasadena, the building is positioned near Old Pasadena, with access to dining, shopping, cultural attractions, major transportation routes, and public transit. The surrounding area includes a mix of office, dining, and entertainment uses that serve employees and clients.
Located at 911 E Colorado Blvd in Pasadena, the building is positioned near Old Pasadena, with access to dining, shopping, cultural attractions, major transportation routes, and public transit. The surrounding area includes a mix of office, dining, and entertainment uses that serve employees and clients.
Key Highlights
- 27,571 SF office building with 4 units
- Built in 1926 and renovated in 1984
- CD‑MU‑G zoning
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
$590,571
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
4.37%
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%
$11,811,420
$11.8M
Cap Rate 7%
$8,436,729
$8.4M
Cap Rate 9%
$6,561,900
$6.6M
Market Conditions
NOI Build-Up for 27,571 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
$926.4K $33.60/SF
− Vacancy
−$139.0K −$5.04/SF
EGI
$787.4K $28.56/SF
− OpEx
−$196.9K −$7.14/SF
NOI
$590.6K $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%
$11,811,420
Cap Rate 7%
$8,436,729
Cap Rate 9%
$6,561,900
Alternative Uses
Best Use
Office B
$8.44M
$7.38M – $9.84M
NOI $590,571 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$620.62M
$543.05M – $724.06M
NOI $43,443,715 @ 7.0% cap · market cap 321.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,111
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 - Four-unit commercial property with CD-MU-G zoning and access to Old Pasadena amenities, dining, shopping, and transit.
Where is this office building located?
The property is located at 911 E Colorado Blvd Pasadena, CA.
What is the asking price?
The asking price for this property is $13,500,000.
What are key features of this property?
This property features: 27,571 SF office building with 4 units; Built in 1926 and renovated in 1984; CD‑MU‑G zoning
