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Property profile & analytics
OFF-MARKET
Estimated value
$45,400,000
Super regional malls
401 Lk Ave Pasadena, CA 91101-3648
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-9165758
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1957
Construction
TILT-UP CONCRETE
Total area
66,515 SF
Lot
2.78 ac (120,966 SF)
Zoning code
PSCD24*
APN
5734-031-010
UPID
US09-9165758
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
-
Volta Charging Station Electric Vehicle Charging Station
-
Dr. Limm Lam Physician
-
Public Art Mobius Bench II Cultural Landmark
-
Sunglass Hut at Macy's (Bike/Boat/Book/etc) Store
-
LensCrafters at Macy's (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$27.72M
Comparable Approach
Comparable
$58.24M
Blend (final)
Blend
$45.40M
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
Zoning & alternative use
PSCD24* · Pasadena, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$46.5M
+15.0%
Office building
$40.9M
+1.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Pasadena submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pasadena submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$40,230,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$30,025,000
6.5%
$27,715,000
7%
$25,735,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$40,480,000
Current use
RESTAURANT
$46,535,000
Change: +15% · Conversion: Difficult
OFFICE BUILDING
$40,910,000
Change: +1% · Conversion: Moderate
AUTO REPAIR, GARAGE
$33,295,000
Change: -18% · Conversion: Difficult
RETAIL STORES
$33,085,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$45.40M
Range $40.86M – $49.94M · ±10% · vs last sale $50.40M (Jul 8 2022)
Last sale anchor
$50.40M
Jul 8 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$683 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$350,243
Tax year 2024
Assessed value
$27,642,000
Assessed 2024
Previous assessed
$27,642,000
+0.0% YoY
Effective rate
1.27%
On assessed value
Assessed land
$15,504,000
Assessed improvement
$12,138,000
Applied tax rate
7.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1957
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Total area
66,515 SF
Lot
2.78 ac (120,966 SF)
Zoning code
PSCD24*
APN
5734-031-010
UPID
US09-9165758
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
PSCD24* · Pasadena, CA
Zoning PSCD24* · permitted uses
PSCD24* · Pasadena, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Pasadena. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$40.5M
RESTAURANT
Est. value
$46.5M
OFFICE BUILDING
Est. value
$40.9M
AUTO REPAIR, GARAGE
Est. value
$33.3M
RETAIL STORES
Est. value
$33.1M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1957
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
2.78 ac
Current owner
From public records · entity-resolved
Mgp X A Shops On Lake LLC
Entity
Mailing address
425 CALIFORNIA ST10THFL, SAN FRANCISCO, CA 94104-2102
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 8, 2022
$50,400,000
Mgp X A Shops On Lake LLC
Mgp X Properties LLC
Grant Deed
$25,598,975 · Wells Fargo Bank NA
Jan 27, 2017
$15,130,000
Mgp X Properties LLC
Macys West Stores INC
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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