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911 Colorado Blvd Pasadena, CA 91106-1772

OFF-MARKET Office buildings Google Maps
27,571 SF 0.18 ac lot Built 1984
Entity Owned 4-yr Hold Absentee Owner Free & Clear
Estimated value (blended)
$17.57M
Range $15.81M – $19.32M (±10%)
Property ID US09-6918107

Property summary

AI-generated overview

This stunning three-story, 24,956 square foot office building, located at 911 E Colorado Blvd in Pasadena, CA 91106, presents a unique owner-user opportunity. Built in 1926 and renovated in 1984, this Gothic-Revival style building, designed by Architect Wendall W. Warren, boasts a rich history, having served as the Lieberg Department Store, the Brown Derby Restaurant, and the home of the Pasadena Star-News. Currently, approximately 5,384 square feet of ground floor space is leased to Life Source Water, generating investment income (rent roll available upon request). The remaining approximately 19,572 square feet is available to the owner-user, including approximately 12,892 square feet on the second and third floors and approximately 6,680 square feet on the lower level, suitable for offices or storage. Situated at the northern end of Pasadena's South Lake Avenue District, a vibrant area with over 600 businesses and significant Class A office space, this property offers an irreplaceable headquarters location for a variety of businesses, including law firms, accounting firms, technology companies, science firms, media companies, or creative office users. The building is conveniently located two blocks from the 210/134 freeway on-ramp, providing easy access to Downtown Los Angeles, the San Gabriel Valley, and the San Fernando Valley. Public transportation is also readily available, with the Gold Line's Lake Avenue Station just two blocks away. Pasadena's favorable business climate, with no city business, parking, or utility taxes, further enhances the appeal of this exceptional property. The asking price is $14,800,000 ($593.04 per square foot). The lot size is 7,767 square feet, and the property is zoned PD-10 AD-2. The APN is 5738-008-065. While not currently on the National Register of Historic Places, the building is age-eligible for historic evaluation and meets CEQA thresholds as a historic resource.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1984
Construction TILT-UP CONCRETE
Total area 27,571 SF
Lot 0.18 ac (7,767 SF)
Zoning code PSC*
APN 5738-008-065
UPID US09-6918107

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
  • Physician Medical Clinic
  • Psychotherapist Adult Education School
  • Insurance Agency
  • Home Appliance Store Hardware & Home Improvement
  • Recording Studio

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$17.57M

Owner & transaction history

since 2021
Last sale
$17.0M
7 recorded transactions
2021
$17.0M
2020
Price N/A
2017
Price N/A
2012
Price N/A
2009
Price N/A
2008
Price N/A
2007
Price N/A

Zoning & alternative use

PSC* · Pasadena, CA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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