1191 E WALNUT ST
PRICE
BUILDING SIZE
PASADENA, CA 91106
$1,100,000
2,160 SF
LOT SIZE
5,533 SF
PROFORMA CAP RATE
PRICE/SF (Bldg)
PRICE/SF (Land)
5.89%
$509
$199
The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 1191 E Walnut Street, a 2,160 square foot office asset situated on 0.13 acres (5,533 SF) of land, ideally located just north of Pasadena’s primary commercial corridor along Colorado Boulevard.
The property will be delivered vacant, having been formerly occupied by a single psychology practice, creating an immediate owner-user or value-add opportunity. An owner-user may occupy the property for their own business operations, while a value-add investor has the ability to reposition the asset with a market-rate tenant or multiple tenants, depending on the desired use and configuration.
Zoned CG (Commercial General), the property benefits from a broad commercial zoning designation that allows for a wide range of professional, medical, creative, and service-oriented uses. The site is comprised of three structures, including the original two-story office building, a separate converted office unit, and a detached storage/office structure.
The property is served by four (4) easily accessible street-front parking spaces, including one ADA-designated space, and is equipped with a handicap elevator, providing functional accessibility. Additionally, due to the property’s proximity to public transit, AB 2097 eliminates municipal parking requirements, materially enhancing future use flexibility and reducing constraints for re-tenanting or owner occupancy.