118-128 N Fair Oaks Ave - Office FOR SALE


Pasadena, CA 91103- Old Town Pasadena
$7,358,000 USD
626-204-1529
118-128 N Fair Oaks Ave, Pasadena, CA for Sale
$7,358,000 USD
Office - FOR SALE
1/11
null | Request Cap Rate

118-128 N Fair Oaks Ave
Pasadena, CA 91103
Old Town Pasadena


HIGHLIGHTS

  • High profile location within the Old Pasadena Historic District
  • Prominent branding opportunity along heavily trafficked N. Fair Oaks Ave.
  • Close proximity to Cal Tech, JPL, Art Center, Huntington Cedars Sinai, Idealab, Alexandria Venture Investments, Kaiser Permanente School of Medicine
  • Excellent visibility and convenient to the 110, 210 and 134 freeways
  • 2% commission to Buyer Broker

OVERVIEW

NAI Capital Commercial Real Estate is pleased to present an exceptional opportunity to an owner-user to acquire 118-128 N. Fair Oaks Ave. AKA The Marine Building, in the heart of Old Pasadena. The two-story office building with ±10,527 square feet along with ±600 square feet of outdoor patios on the first and second floors sits on ±11,112 square feet of land and is currently occupied by an owner-user law firm but will be delivered vacant. Built in 1905, the building has had multiple upgrades over the years including early California Craftsman inspired interior improvements, full kitchen, large conference room with suspended room dividers, high ceilings with exposed wood beams and HVAC ducts, Seismic in 1990, Sprinklers in 1989, Exterior Paint and AT&T Fiber 2022, New roof and 9 new skylights 2023 along with above standard power of 600 amps. There is gated secure surface lot for 12 single parking spaces plus plenty of monthly private and public parking in immediate vicinity. The interior of the space offers 21 private window offices, 6 private interior offices, support staff areas, 1 full service kitchen and a kitchenette, 5 restrooms and 1 shower and 2 conference rooms. Situated directly across the street from the new $1 Billion Phase 1, 10 W. Walnut mixed-use 210,000 square feet of office and retail and 400 apartment units, this free-standing building is situated in the Old Pasadena Historic District with 200 specialty stores, boutiques and more than 100 upscale restaurants, cozy bistros and outdoor cafes. Premier location to connect to Pasadena’s vibrant economy.

FOR SALE DETAILS

PRICE

$7,358,000 USD

PRICE/SF

$699 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

Marine Bldg

PROPERTY TYPE

Office

ADD'L SUBTYPES

Storefront, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1924

SPRINKLERS

-

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,112 SF

ZONING

CD-MU-C

APN/PARCEL ID

5723-021-026

ASK ABOUT THIS PROPERTY

Cheryl PestorNAI CapitalMore Info
626-204-1529

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Cheryl PestorNAI CapitalMore Info
626-204-1529

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.