23-27 N Mentor Ave - Storefront Retail/Office FOR SALE


Pasadena, CA 91106
$3,300,000 USD
626-240-2782
23-27 N Mentor Ave, Pasadena, CA for Sale
$3,300,000 USD
Storefront Retail/Office - FOR SALE
1/15
null | Request Cap Rate

23-27 N Mentor Ave
Pasadena, CA 91106


HIGHLIGHTS

  • Phenomenal Playhouse Village Location
  • Ideal Owner-User Opportunity
  • Easily walk to many amenities, restaurants and shopping
  • Early 20th century architectural gem

OVERVIEW

Lee & Associates – Pasadena is proud to present 23 - 27 N. Mentor Avenue in Pasadena, CA a multi-tenant retail and office property situated in the heart of Pasadena’s Playhouse Village. The ±5,760 SF two story building is comprised of three suites on a ±5,373 SF parcel. Originally designed and built in 1925 by W.C. Zirtzman, the property represents a wonderful architectural gem of the early twentieth century. The ground floor retail suites are currently occupied by a thriving bridal shop (month to month lease) and a photography studio (lease terminates 11/30/2024). The upstairs suite is currently vacant and can service a variety of uses due to its creative, open floor plan along with private offices and a conference room. The property is individually metered for electricity and there are fourteen tandem parking spaces in the rear. Pasadena’s Playhouse Village is a vibrant and culturally rich neighborhood nestled in the heart of Pasadena, California. Known for its historic charm and artistic ambiance, the area revolves around the iconic Pasadena Playhouse, a historic theater that has been a cornerstone of the community since 1917. The area surrounding the Playhouse is a delightful blend of quaint streets, lined with unique shops, trendy boutiques, diverse dining options and an abundance of newly developed mixed use residential projects. The area exudes a creative energy, attracting artists, performers, and art enthusiasts alike. With its tree-lined sidewalks and vintage architecture, Playhouse Village provides a unique and immersive experience for Village residents, locals and visitors, offering a perfect blend of entertainment, shopping, and culinary delights in a setting that celebrates the city’s rich cultural heritage. The property’s location also benefits from easy access to I-210 and Metro’s A Line Lake Avenue stop is a seven-minute walk. Not to mention, the property is directly across the street from the world famous Ice House comedy club; and one can walk across Colorado Blvd to relax for a cocktail at the Comet Club bar in the renowned Pasadena Hotel. The offering presents an ideal owner-user opportunity to acquire a beautifully constructed vintage property in Pasadena’s Central Business District and determine if they wish to continue to derive income from the downstairs retail spaces or occupy them.

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$573 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

CD5

APN/PARCEL ID

5738-008-056

ASK ABOUT THIS PROPERTY

Colleen CareyLee & AssociatesMore Info
626-240-2782

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Colleen CareyLee & AssociatesMore Info
626-240-2782

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