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    345 Lake Ave Pasadena, CA 91101

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    For Lease
    Contact for pricing

    Pasadena Shopping Center - Spaces Available

    Lot size:
    127,128 SF

    Property Features for 345 Lake Ave

    General Information

    Property type
    Lifestyle centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    127,128 SF

    Spaces For Lease

    at 345 Lake Ave, Pasadena, CA 91101 Contact us

    We can help!

    Listing Contact
    Taylor Pham

    Listing Agency: Merlone Geier Partners Listing Agent: Taylor Pham

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    The Shops on Lake Avenue, a prime retail center in Pasadena, California, offers exceptional leasing opportunities. Located at 345-455 S Lake Avenue, 91101, this 127,128 square foot shopping center sits on a 7.23-acre lot in Los Angeles County. Multiple spaces are available, ranging from a minimum of 2,580 square feet to a maximum contiguous space of 13,844 square feet. Currently, there is 23,600 square feet of vacant space ready for immediate occupancy. This presents a unique chance for businesses seeking high-visibility locations in a thriving Pasadena market. The property's strategic location provides excellent access to major transportation routes and a dense population base. The Shops on Lake Avenue is a well-established center with a proven track record of success, making it an ideal investment for retailers seeking a strong presence in a desirable area. The property is classified as a retail shopping center with multiple tenancies. This presents a flexible opportunity for businesses of various sizes and types. Interested parties are encouraged to inquire about available spaces and lease terms. Don't miss this chance to secure your place in this vibrant Pasadena retail hub.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Orvis Clothing Store Zipcar Location Freight Service The Shops On Lake Avenue Shopping Center & Mall Corner Bakery Take-out & Catering CAVA Restaurant

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Los Angeles
    State
    California
    Longitude
    -118.1329065
    Latitude
    34.1400495

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    FAQs

    What type of property is this?
    Lifestyle center - Pasadena Shopping Center - Spaces Available
    Where is this lifestyle center located?
    The property is located at 345 Lake Ave Pasadena, CA.
    What are key features of this property?
    This property features: Prime retail center in Pasadena's South Lake Business District, boasting 600 businesses and a 68,000 daytime population within a 1-mile radius.; Excellent freeway access via the Foothill Freeway (I-210) with a full interchange at S Lake Avenue.; High traffic counts exceeding 50,000 vehicles daily at E Del Mar Blvd and S Lake Ave intersection.
    (855) 640-6400 Call to check price and availability
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    345 Lake Ave Pasadena, CA 91101
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    Pasadena, CA 91101
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    345 Lake Ave Pasadena, CA 91101
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    Contact for Pricing
    Please call us for current price
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    Taylor Pham
    (855) 640-6400 (858) 259-9909
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