Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1623 Washington Blvd Pasadena, CA 91104

    • Retail space
    • 2,548 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    $730,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8008644
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 1623 Washington Blvd

    Year built
    1924
    Construction
    WOOD
    Lot size
    0.11 lot acres
    Property size
    2,548 SF
    Zone code
    PSC-
    Property type
    Retail space
    APN
    5850-022-005
    APU
    5850022005

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,075,000
      6.5%
      $990,000
      7%
      $920,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,160,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Los Angeles
    State
    California
    Longitude
    -118.117
    Latitude
    34.1694
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $7,505
    $350,952
    $246,281
    $597,233
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $880,000
      3,296 SF

      1614 Washington Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,296 SF
      1614 Washington Blvd, Pasadena, CA 91104-2746
      View Details
    • Value Estimation
      $1,335,000
      4,680 SF

      827 Lk Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,680 SF
      827 Lk Ave, Pasadena, CA 91104-4561
      View Details
    • Value Estimation
      $2,735,000
      10,947 SF

      690 Lk Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,947 SF
      690 Lk Ave, Pasadena, CA 91104-4555
      View Details
    • Value Estimation
      $3,275,000
      14,526 SF

      1260 Lk Ave

      RETAIL STORES (PERSONAL SERVICES) • 14,526 SF
      1260 Lk Ave, Pasadena, CA 91104-2854
      View Details
    • Value Estimation by Request
      388 SF

      1580 Lk Ave

      RETAIL STORES (PERSONAL SERVICES) • 388 SF
      1580 Lk Ave, Pasadena, CA 91104
      View Details
    • Value Estimation
      $750,000
      3,446 SF

      1442 Washington Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,446 SF
      1442 Washington Blvd, Pasadena, CA 91104-2651
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,100 SF

      Free Standing Pasadena Retail Building

      Retail building with parking in Pasadena for sale.
      920 E Washington Blvd, Pasadena, CA 91104
      View Details
    • $85,000
      1,000 SF

      Pasadena Restaurant Business Opportunity

      Well-known family restaurant for sale in Pasadena, California.
      1251 N Lake Ave, Pasadena, CA 91104
      View Details
    • $1,190,000
      1,600 SF

      1771 Washington Blvd, Pasadena, CA 91104

      Retail properties & Spaces • 1,600 SF
      1771 Washington Blvd, Pasadena, CA 91104
      View Details
    • $725,000

      Freestanding Building in Pasadena For Sale

      Freestanding building with parking near Lake Avenue and Washington Boulevard.
      920 East Washington Blvd, Pasadena, CA 91104
      View Details
    • $5,195,000
      13,859 SF

      Pasadena Multifamily Investment

      20-Unit Apartment Building, High Upside
      485 Washington Blvd, Pasadena, CA 91104
      View Details
    • $1,800,000
      4,068 SF

      Pasadena Mixed-Use Investment Opportunity

      Prime Pasadena location, three buildings, high potential.
      1736 Sierra Bonita Ave, Pasadena, CA 91104
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,068 SF

      Pasadena Mixed-Use Commercial Property

      Mixed-use property featuring commercial buildings and a single-family home.
      1736 N Sierra Bonita Ave, Pasadena, CA 91104
      View Details
    • $2 SF/Yr
      34,517 SF

      Retail Space in Pasadena Center

      Retail space available in a busy Pasadena shopping center.
      736 North Los Robles Ave, Pasadena, CA 91104
      View Details
    • Contact for pricing
      3,260 SF

      Prime Pasadena Restaurant Space

      3,260 SF Restaurant - Lease
      830 Lake Ave, Pasadena, CA 91104
      View Details
    • Contact for pricing
      9,511 SF

      Shops on Hill: Pasadena Retail

      Prime Pasadena retail space, 9,511 sq ft available.
      1392 Washington Blvd, Pasadena, CA 91104
      View Details
    • $3 SF/Yr

      Pasadena Office Space Available

      Office space available for lease in Pasadena, California.
      1143 N Lake Ave, Pasadena, CA 91104
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1623 Washington Blvd
    Pasadena, CA 91104
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!