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Marine Bldg 118-128 N Fair Oaks Ave 10,527 SF Office Building Pasadena, CA 91103 $9,276,832 CAD ($881.24 CAD/SF)
Investment Highlights
- Situated in Old Pasadena’s historic district, two blocks north of Colorado Boulevard
- Zoned CD-MU-C allowing for diverse office, retail, and mixed-use possibilities
- Access to a strong regional employment hub and affluent demographics with excellent walkability
- Fully rehabilitated with seismic upgrades, new roof, skylights, and high-speed fiber connectivity
- Gated on-site parking with 12 spaces plus additional parking options nearby
- Eligibility for potential historic property tax benefits under the Mills Act
Executive Summary
NAI Capital is pleased to present 118-128 N. Fair
Oaks Ave., AKA The Marine Building, Pasadena,
CA – an opportunity to purchase a ±10,500 square
foot professional office building situated in the Old
Pasadena District. The Property is to be delivered
vacant at COE, offering an exceptional opportunity
in a market with high barriers to entry. The interior
improvements are inspired early California Craftsman
with high ceilings and exposed ductwork.
The building has been rehabilitated at various
points throughout the ownership of the current
owner-user Law Firm. The space can meet a variety
of uses including law firm, corporate owner-user,
creative office space, retail sales, banks, restaurants,
health/physical fitness clubs, health spa, charitable
institutions, religious facilities, religious facilities with
affordable housing, cultural institutions, multi-family
housing, live/work units and various residential
housing. The Property is situated at the gateway to
Old Pasadena, one of the most affluent areas in the
region with Average Household Incomes topping
$158,000 within a three-mile radius of the Property.
Buyer should confirm the building eligibility for
the City of Pasadena’s historic Contract Program
established Under the authority of the State enabled
program known as the Mills Act.
Oaks Ave., AKA The Marine Building, Pasadena,
CA – an opportunity to purchase a ±10,500 square
foot professional office building situated in the Old
Pasadena District. The Property is to be delivered
vacant at COE, offering an exceptional opportunity
in a market with high barriers to entry. The interior
improvements are inspired early California Craftsman
with high ceilings and exposed ductwork.
The building has been rehabilitated at various
points throughout the ownership of the current
owner-user Law Firm. The space can meet a variety
of uses including law firm, corporate owner-user,
creative office space, retail sales, banks, restaurants,
health/physical fitness clubs, health spa, charitable
institutions, religious facilities, religious facilities with
affordable housing, cultural institutions, multi-family
housing, live/work units and various residential
housing. The Property is situated at the gateway to
Old Pasadena, one of the most affluent areas in the
region with Average Household Incomes topping
$158,000 within a three-mile radius of the Property.
Buyer should confirm the building eligibility for
the City of Pasadena’s historic Contract Program
established Under the authority of the State enabled
program known as the Mills Act.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
10,527 SF
Building Class
C
Year Built
1924
Price
$9,276,832 CAD
Price Per SF
$881.24 CAD
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
5,264 SF
Building FAR
0.95
Lot Size
0.26 AC
Zoning
CD-MU-C - Central District Mixed Use Core, allows office and retail use. Single or multi-unit residential allowed above ground floor.
Parking
12 Spaces (1.14 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Fenced Lot
- Kitchen
- Storage Space
- Basement
- Central Heating
- High Ceilings
- Partitioned Offices
- Air Conditioning
- Fiber Optic Internet
1 1
Very walkable
80/100
Exceptionally drivable
100/100
Strong public transit
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5723-021-026 | Improvements Assessment | $8,386,909 CAD |
| Land Assessment | $4,193,454 CAD | Total Assessment | $12,580,363 CAD |
Property Taxes
Parcel Number
5723-021-026
Land Assessment
$4,193,454 CAD
Improvements Assessment
$8,386,909 CAD
Total Assessment
$12,580,363 CAD
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Marine Bldg | 118-128 N Fair Oaks Ave
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