Contacts

Matthew Palumbo

eXp Commercial

(310) 403-4254

Property Details

Property Type Retail - Street Retail
Property Size 2,000 SF
Lot Size 0.19 Acre
Property Tenancy Single Tenant
Date Updated Apr 12, 2024

Downtown PasadenaWe are pleased to present an opportunity to own a crucial retail property that is zoned for either existing freestanding retail or restaurant use or for a mixed use office building. The property is located in the bustling downtown area of Pasadena, on the main artery of Colorado Blvd and the popular Lake Avenue, both known for their high foot traffic. The current restaurant has been a stable burger restaurant there for decades and maintains a great business. This can be delivered to an owner user, or to an investor who will renew the lease. The current restaurant is on a NNN lease in which the tenant pays taxes, insurance, and maintenance, which allows ownership to collect income with minimal management of the property. In 2023 the City of Pasadena proposed to change the zoning to mixed use high-density residential. This allows for a developer to redevelop the property into a high-density residential apartment complex. There is a possibility for an assemblage of the adjacent properties as well which would allow for a larger footprint for a building. The City may adopt the zone change in the near future and as early as 2024. This gives the new owner creative options for their investment.

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Highlights

Located in the heart of the bustling Downtown Pasadena.
Heavy foot traffic with frontage on N Lake Avenue, along with significant parking.
Owner User or Investment.
Newly renovated building.
Property access from 2 different streets.

Getting around

96/100
Walk Score ®
68/100
Transit Score ®
76/100
Bike Score ®

Powered by Walk Score ®

Location

City Pasadena, CA
Neighborhood South Lake
Zip Code 91101
Market Los Angeles

Points of Interest

Lake

0.35 miles
Memorial Park

0.89 miles
Del Mar

0.98 miles
Allen

1.13 miles
Fillmore

1.30 miles
South Pasadena

2.63 miles
Sierra Madre Villa

2.90 miles
Highland Park

4.25 miles
Southwest Museum

5.43 miles
Arcadia

5.90 miles

76

0.09 miles
Mobil

0.39 miles
Arco

0.55 miles
Chevron

0.60 miles
Mobil

0.64 miles
76

0.66 miles
76

0.74 miles
Shell

0.96 miles
Shell

1.04 miles
Mobil

1.11 miles

Loading Dock

0.37 miles
Student Parking Lot No.10

0.57 miles
Student Parking Lot No.11

0.58 miles
Lot 11

0.61 miles
The Shops on Lake Avenue

0.63 miles
The Carnegie Observatories

0.65 miles
Staff Parking Lot No.1

0.65 miles
Student Parking Lot No.3

0.71 miles
Staff Parking Lot No.4

0.77 miles
Lot 7

0.82 miles

Rounds Premium Burgers

0.00 miles
Coco's

0.04 miles
Chim Thai

0.07 miles
Japon Bistro

0.07 miles
Pita Pita Pasadena

0.07 miles
Del Taco

0.08 miles
El Metate

0.09 miles
Subway

0.09 miles
Go China Restaurant

0.11 miles
Bobby's Place

0.12 miles

Target

0.14 miles
Ralphs

0.16 miles
Trader Joe's

0.48 miles
The Colonnade Mall

0.49 miles
Macy's

0.54 miles
Ross

0.61 miles
Pavilions

0.72 miles
Baja Ranch Market

0.94 miles
Whole Foods Market

1.10 miles
Smart & Final

1.15 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Map of Property

44 North Lake Avenue