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Property profile & analytics
FOR LEASE
Super regional malls

345 S Lake Ave Pasadena, CA 91101

75,366 SF 2.55 ac lot Built 2002
Entity Owned 4-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US09-9529998
Property summary
AI-generated 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
Verified
Property type Super regional malls
Use group REGIONAL SHOPPING CENTER, MALL
Year built 2002
Construction CONCRETE
Total area 75,366 SF
Lot 2.55 ac (110,869 SF)
Zoning code PSR*
APN 5734-032-004
UPID US09-9529998
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Orvis Sporting Goods Store Clothing Store
  • Zipcar Location Freight Service Logistics Company
  • The Shops On Lake Avenue Shopping Center & Mall
  • Corner Bakery Take-out & Catering
  • CAVA Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$31.40M
Comparable Approach Comparable
$58.46M
Blend (final) Blend
$46.18M
Owner & transaction history
Mgp X A Shops On Lake LLC · 4 yrs held
Mgp X A Shops On Lake LLC
since 2022
Last sale
$50.4M
2 recorded transactions
2022
$50.4M
2017
$15.1M
Zoning & alternative use
PSR* · Pasadena, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $52.7M +15.0%
Office building $46.4M +1.1%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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