1294 E Colorado Blvd, Pasadena, CA 91106

About this listing

INVESTMENT HIGHLIGHTS
Large Rear Parking Lot including 30 free surface spaces withingress and egress via Green Street. Located on one of the busiest thoroughfares in the city of Pasadena CA. The“Subject Property” fronts the southside of the world-famous Colorado Blvd. Additional windows and signage may be added fronting Colorado Blvd. Diverse options for mixed-use or even multifamily development such as condos or apartments are applicable to the Property. Front & rear vestibule allowing access to each floor. Includes one (1) freight elevaor with 3,000 lb capacity serving all three (3) floors. PROPERTY FACTS
Sale Type: Owner User
Property Type: Retail
Property Subtype: Storefront Retail/Office
Building Size: 19,669 SF
Building Class: C
Year Built: 1967
Price: $5,700,000
Price Per SF : $290
Percent Leased: 26%
Tenancy: Multiple
Building Height: 3 Stories
Building FAR: 1.00
Land Acres: 0.45 AC
Zoning: ECSP-CG-1 - The “Subject Property” is currently zoned within the East Colorado Specific Plan (ECSP-CG-1).
Parking: 30 Spaces (1.53 Spaces per 1,000 SF Leased)
Frontage: 50 FT on Colorado Blvd
Opportunity Zone: No


AMENITIES
Signage Signalized Intersection Storage Space Air Conditioning

WALK SCORE ®
Walker's Paradise (91)
BIKE SCORE ®
Biker's Paradise (86)

EXECUTIVE SUMMARY
PRICE REDUCTION OF $100K!
Owner/User Office/Retail Opportunity with Development Potential.
1294 E. Colorado Boulevard (“Subject Property”) is located on one of the busiest thoroughfares in the city of Pasadena CA. The“Subject Property” fronts the Southside of the world-famous Colorado Boulevard (Historic Route 66), situated one (1) block west of Pasadena City College and has excellent access to and from the 210 freeway, only two (2) blocks North. Additionally, the "Subject Property" is across the street from the new Curio by Hilton Development. The project will consist of 500+ hotel rooms, restaurants, retail, and entertainment. This dense and active area is the center point of new development in the city of Pasadena. Pasadena is one of the most recognized, popular, and historic cities in the nation, and is a beacon of culture and lifestyle in the United States. With sights as exciting as the bustling outdoor mall, The Paseo, the renowned Norton Simon Museum, and the electric Rose Bowl stadium, there is never a shortage of reasons to stop in this lively city. Home of the internationally renowned tournament of Roses Parade, Pasadena finds itself as the center of attention each year. Rich with education and culture, Pasadena also proudly hosts the California Institute of Technology, ArtCenter College of Design, and the Fuller Theological Seminary.
GENERAL PLAN BASE ZONING DESIGNATION
MEDIUM MIXED-USE
The “Subject Property” is currently located in a Medium Density Mixed-Use Zone: 0.0-2.5 Floor Area Ratio (“FAR”), 0-87 dwelling units per acre (“du/ac”). Intended to support the development of multi-story buildings with a variety of compatible commercial (retail and office) and residential uses. Development is characterized by shared open spaces, extensive landscaping, small to medium separations between buildings, and shared driveways and parking. Sites may be exclusively commercial or exclusively residential, or with buildings vertically integrating housing with non-residential uses. Mixed-use development projects containing housing shall incorporate amenities contributing to a quality living environment for residents including a courtyard, recreating facilities, and similar elements. Where buildings face the street frontage, they shall be designed to enhance pedestrian activity with transparent facades for retail uses and distinctive entries for housing. Parking shall be located below or to the rear of the street. Projects constructed at Medium Mixed-Use densities may be required to develop pedestrian-oriented streetscape amenities along their primary street frontage, consistent with the improvement concepts and plans defined by the city.
EAST COLORADO SPECIFIC PLAN
The “Subject Property” is currently zoned within the East Colorado Specific Plan (ECSP-CG-1). This sub-district is intended for the largest scale of development, such as mid to high-rise development, financial institutions, hotel, and convention facilities, entertainment uses, and restaurants. Mixed-use projects are encouraged. Stand-alone residential may be permitted.
The East Colorado Specific Plan requires a development permit in order to construct a new building on the Property or enlarge, remodel or alter the building structure and is subject to Design Review and Design Guidelines outlined in the East Colorado Specific Plan. Additionally, modification to an existing design or layout of a parking lot, removal of mature landscaping, or modification of an approved landscaping plan requires the approval of the Planning Director.
USE PERMITTED BY RIGHT INCLUDE:
1. Restaurants - medical, dental office
2. Residential
3. Mixed-Use
4. Retail
5. Bank
For further zoning information and development standards, please contact:
Associate Planner: Luis Rocha (626) 744-6747