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100% Occupied-5.42% CAP RATE 1361 N Fair Oaks Ave 4,712 sq ft 100% Let Retail Property Pasadena, CA 91103 £2,056,065 (£436.35/sq ft) 5.42% Net Initial Yield
INVESTMENT HIGHLIGHTS
- 9% Pro-Forma CAP. Current scheduled income is $149,112.00. 100% leased stabled income + Great Potential with a buildable space on this huge lot.
- Current low rent, Great location, Extra space to build for additional income, ideal for long-term stable investment
- For nearly two decades, the property has always been 99% leased, except during renovation periods.
- Prime Location, 5 Minutes from the Old Town Pasadena. Geological advantages, stable income, corner location of Fair Oaks Ave & Washington Bl.
- It includes an expired plan to build an additional 2,205 sqft, which can likely be reactivated. Possible for a MIX use project in the future.
- Laundromat property is not a part.
EXECUTIVE SUMMARY
Additional Space to build for 9% or higher CAP rates. An expired plan to build an additional 2,205 sq. ft., offering further growth opportunities.
Investment Opportunity: Great Property with 100% Leased Rental Income (Currently, lower than the market rent)
The current scheduled income of $149,112.00 highlights excellent upside potential. The property is fully leased, providing a stable income stream.
For a faster response after your inquiry email, please text 626-429-9977. I appreciate your prompt attention to this incredible investment opportunity.
Investment Opportunity: Great Property with 100% Leased Rental Income (Currently, lower than the market rent)
The current scheduled income of $149,112.00 highlights excellent upside potential. The property is fully leased, providing a stable income stream.
For a faster response after your inquiry email, please text 626-429-9977. I appreciate your prompt attention to this incredible investment opportunity.
DATA ROOM Click Here to Access
- Operating and Financials
- Third Party Reports
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Property Size
4,712 sq ft
Costar Property Class
C
Year Built
1980
Price
£2,056,065
Price per sq ft
£436.35
Yield
5.42%
NOI
£111,485
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
1
Plot ratio
0.21
Total Plot Size
0.52 ac
Use Class
PSC* - Planned Strip Commercial
Parking
27 Spaces (5.73 Spaces per 1,000 sq ft Leased)
Frontage
AMENITIES
- Bus Route
- Corner Lot
- Restaurant
- Air Conditioning
Walk Score®
Easily Walkable (73)
Bike Score®
Good for cycling (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 5728-015-053 | Improvements Assessment | £146,639 |
| Land Assessment | £907,360 | Total Assessment | £1,053,999 |
PROPERTY TAXES
Parcel Number
5728-015-053
Land Assessment
£907,360
Improvements Assessment
£146,639
Total Assessment
£1,053,999
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Presented by
Alameda Asset Investment LLC
100% Occupied-5.42% CAP RATE | 1361 N Fair Oaks Ave
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