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    Class A Office Building Pasadena Title is generated by Realmo AI

    2 N Lake Ave, Pasadena, CA 91101

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    Class A office building in Playhouse Village with parking.

    Type:Retail, Office
    Property size:
    1 SF
    Added:
    Sep 22, 2023
    Days on Market:
    987
    Last Refresh:
    May 12 at 8:24 pm

    Property Features for 2 N Lake Ave

    General Information

    Standard status
    Active
    Size
    1 SF
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1985

    Spaces For Lease

    at 2 N Lake Ave Contact us

    Suite 850 $3/Mo

    Size
    4,512 SF
    Type
    Office
    Contact us

    Suite 1020 $3/Mo

    Size
    2,268 SF
    Type
    Office
    Contact us

    Suite 1025 $3/Mo

    Size
    1,713 SF
    Type
    Office
    Contact us

    Suite 570 $3/Mo

    Size
    3,991 SF
    Type
    Office
    Contact us

    GL- Suite 150 $4/Mo

    Size
    1,084 SF
    Type
    Retail
    Contact us

    Suite 250 $3/Mo

    Size
    6,007 SF
    Type
    Office
    Contact us

    GL- Suite 100 $4/Mo

    Size
    7,389 SF
    Type
    Retail
    Contact us

    Suite 930 $3/Mo

    Size
    2,958 SF
    Type
    Office
    Spec Suite. Very modern. Includes kitchen with North and Northeast facing views.
    Contact us

    GL- Suite 110 $4/Mo

    Size
    3,038 SF
    Type
    Retail
    Contact us

    Suite 1030A $3/Mo

    Size
    4,500 SF
    Type
    Retail, Office
    Contact us

    Suite 360 $3/Mo

    Size
    6,634 SF
    Type
    Office
    Picture balconies with North, South and West facing views. Plenty of natural light.
    Contact us

    GL- Suite 140 $4/Mo

    Size
    2,018 SF
    Type
    Retail
    Contact us

    Suite 900 $3/Mo

    Size
    2,286 SF
    Type
    Office
    Contact us

    Suite 260 $3/Mo

    Size
    3,138 SF
    Type
    Office
    Offices on the Second Floor with Private Balconies, 9 foot ceilings and areas for...
    show more
    Contact us

    Suite 960 $3/Mo

    Size
    3,561 SF
    Type
    Office
    Contact us

    Suite 1030B $3/Mo

    Size
    4,012 SF
    Type
    Office
    Contact us

    Suite 400 $3/Mo

    Size
    10,035 SF
    Type
    Office
    Contact us

    Suite 230 $4/Mo

    Size
    6,911 SF
    Type
    Office
    Contact us

    Suite 600-700 $3/Mo

    Size
    42,347 SF
    Type
    Office
    Two full floors joined with private staircase and modern finishes
    Contact us

    Penthouse $3/Mo

    Size
    9,513 SF
    Type
    Office
    The best 360° views in Pasadena. Full buildout with 12-foot ceilings, kitchen, 2...
    show more
    Contact us
    Show more

    We can help!

    Listing Contact
    Brendon Shoemake
    Brendon Shoemake

    Listing agent Brendon Shoemake License #DRE #02208366

    Listing office Lee & Associates - Pasadena

    Listing date Sep 22, 2023

    Source Crexi

    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

    HighLights

    • High visibility location on the Rose Parade Route at Lake Avenue and Colorado Boulevard.
    • Class A building in Playhouse Village with professional property management.
    • Includes a multi‑story parking structure.
    • Features a penthouse suite.
    • Multiple balconies and an outdoor deck with city views.
    • Located near South Lake Avenue's shopping and dining.

    Overview

    This Class A building in Playhouse Village offers 1 square feet of and medical space. The property features professional property management, a multi-story parking structure, a penthouse suite, multiple balconies, and an outdoor deck with city views. Situated along the Rose Parade Route at the intersection of Lake Avenue and Colorado Boulevard, the location provides high visibility and integrates Playhouse Village with South Lake Avenue, a shopping and dining destination. The surrounding area includes commercial real estate, cultural attractions, and a medical/biotech community.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gable Tax Group Consultant Litchfield Cavo LLP Law Firm TD Ameritrade Financial Advisor Teresita D. Morales, ... Physician Persona Nuerobehavior Group Physician

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Law Firm Hair Salon 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
    -118.1318867
    Latitude
    34.1462767

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    FAQs

    What type of property is this?
    Office building - Class A office building in Playhouse Village with parking.
    Where is this office building located?
    The property is located at 2 N Lake Ave Pasadena, CA.
    What is the lease rate?
    The lease rate is $41 SF/Yr.
    What are key features of this property?
    This property features: High visibility location on the Rose Parade Route at Lake Avenue and Colorado Boulevard.; Class A building in Playhouse Village with professional property management.; Includes a multi‑story parking structure.
    (626) 240-2776 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brendon Shoemake
    Brendon Shoemake
    Real Estate License ID: DRE #02208366
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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.

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