213-446-7543
960 E Green St, Pasadena, CA for Sale
Medical - FOR SALE
1/16
null | Request Cap Rate

960 E Green St
Pasadena, CA 91106
South Lake


HIGHLIGHTS

  • PREMIER OUTPATIENT MEDICAL INVESTMENT OPPORTUNITY
  • EXCELLENT OUTPATIENT MEDICAL LOCATION IN PASADENA'S SOUTH LAKE DISTRICT

OVERVIEW

PREMIER OUTPATIENT MEDICAL INVESTMENT OPPORTUNITY | PASADENA'S SOUTH LAKE DISTRICT * ±88.7% leased best-in-class garden style outpatient medical campus located in the premier South Lake Avenue District of Pasadena, class A location. * Durable Cash Flow - Pro Forma NOI totals $1.80 million during the first year of ownership and is expected to grow ±63% during the 10-year hold period. * In-place rents are approximately 7% below market. With a medical office vacancy of 5.8% in Pasadena, demand would drive accelerated rent growth and help push yields with lease-up of vacancies. * Diverse and Committed Tenancy – Stable diverse cash flow from 41 medical office tenants, more than two-thirds of which have been at the property for 5 years or more. * Limited rollover risk, with no tenant occupying more than 5% of the project. * Highest parking ratio and best access of any building within the competitive set. Parking ratio is 3.75/1,000 RSF. EXCELLENT OUTPATIENT MEDICAL LOCATION * Situated in Pasadena’s South Lake neighborhood, the project is in a highly desirable location and Pasadena’s most walkable neighborhood, with a neighborhood Walk Score of of 96 out of 100, a “Walker’s Paradise.” * The premier South Lake Avenue District of Pasadena offers more than 700 restaurants and retailers, all within walking distance. * In addition to excellent regional access by way of the 210 (Foothill), 134 (Ventura) Freeways and 110 (Arroyo Seco) Parkway, the project is just a 12-minute walk from the Metro A Line Lake Station.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Thatcher Medical Bldg

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1963

SPRINKLERS

-

PARKING SPACES

294

LAND DETAILS

LAND ACRES

2.63 AC

LAND SF

114,563 SF

ZONING

C2, Pasadena

APN/PARCEL ID

5735-024-011,5735-024-013,5735-027-005,5735-027-006,5735-027-007,5735-027-008,5735-027-009,5735-027-032

ASK ABOUT THIS PROPERTY

Mark ShafferCBRE, Inc.More Info
213-446-7543

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Mark ShafferCBRE, Inc.More Info
213-446-7543

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