Entity Owned 
For Lease
1 / 14
Contact for pricing
345 S Lake Ave, Pasadena, CA 91101
View Listing →
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
Current use
Occupant on record · Public records
-
Clothing Store Camping Store
-
Freight Service Logistics Company
-
Shopping Center & Mall
-
Take-out & Catering
-
Restaurant
Location
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
since 2022
Last sale
$50.4M
2 recorded transactions
Zoning & alternative use
PSR* · Pasadena, CA
Top alternative use upside
Restaurant
$52.7M
+15.0%
Office building
$46.4M
+1.1%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$46.18M
Value range
$41.56M – $50.80M
±10% around blend
Estimated value / SF
$613 / SF
Confidence
Low
3 county-verified comps
Property data
100
Market benchmarks
33
Comparable evidence
30
$41.56M
blend $46.18M
$50.80M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
75,366 SF
Lot area
2.55 ac
Year built
2002
Stories
1
APN
5734-032-004
Zoning
PSR*
Assessed value
$27,744,000
Annual tax
$352,565
3
Income approach: direct capitalization
Partial preview
Income approach indication
$31.40M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$34.02M
@ 6.5% CAP return
$31.40M
@ 7% CAP return
$29.16M
4
Sales comparison
Partial preview
Sales approach indication
$21.16M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
19.7 mi away · 61,545 SF
31.3 mi away · 61,883 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$46.18M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 462 sales
$609
+1%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $613/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+15%
vs current-use indication
Office Building
Neighborhood: Shopping Center · current use
Auto Repair, Garage
Retail Stores
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Implied cap rate
5.10%
Implied, in-place cap rate for this super regional malls
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.10%
9.0%
NOI (est.)
$3.53M *
Last sale · Jul 2022
$50.40M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$69.18M
Move the market yield to see immediate price impact.
Value / SF
$918
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.60%5.10%5.60%
$3.18M
$69.03M
$62.26M
$56.70M
$3.53M
$76.70M
$69.18M
$63.00M
$3.88M
$84.37M
$76.09M
$69.30M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$20.35M
14.7 mi · Feb 2026 · $285/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$352,565
Tax year 2024
Assessed value
$27,744,000
Assessed 2024
Previous assessed
$27,744,000
+0.0% YoY
Effective rate
1.27%
On assessed value
Assessed land
$14,178,000
Assessed improvement
$13,566,000
Applied tax rate
7.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
2002
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
75,366 SF
Lot
2.55 ac (110,869 SF)
Zoning code
PSR*
APN
5734-032-004
UPID
US09-9529998
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
PSR* · Pasadena, CAZoning PSR* · permitted uses
PSR* · Pasadena, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2002
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
2.55 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
PSR*
Jurisdiction
Pasadena, CA
Recorded code
PSR*
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for PSR* in Pasadena, CA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Get access to Data & Analytics
Choose membership plan that suits your needs
Unlock Full Report
$9
one-time
Single Property Report
Full report includes
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
MOST POPULAR
Professional Plan
$99
/mo
30 property reports a month.
Cancel anytime.
Cancel anytime.
Your membership includes
- 30 reports a month
- Location Analytics
- Market Trends
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
Enterprise Plan
$299
/mo
300 property reports a month.
Cancel anytime.
Cancel anytime.
Your membership includes
- 300 reports a month
- Location Analytics
- Market Trends
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
Unlock Light Report
Free
Confirm your email
and get 1 Light Report
and get 1 Light Report
Light report includes
- Property Information
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Potential
- Location Insight
- Alternative use
- Local Zoning Insight
Confirm your e-mail to get the report
