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489 E Colorado Blvd 7,774 SF Office Building Pasadena, CA 91101 $8,368,541 CAD ($1,076.48 CAD/SF)
INVESTMENT HIGHLIGHTS
- Rare Owner User Office or Retail Opportunity on Colorado Boulevard
- Features 22’ Ceilings, Skylights and Open/Creative Layout
- Mills Act Designation with Tremendous Property Tax Savings
- Medical Office Permitted By Right
- Walk Score of 97 (“Walker’s Paradise”) with Abundant Surrounding Amenities
- Located in the Heart of the Pasadena Playhouse Historic District
EXECUTIVE SUMMARY
CBRE, is pleased to present this exceptional owner user opportunity to acquire 489 E. Colorado Boulevard, commonly referred to as the “Harry FitzGerald” building in the heart of the Playhouse Historic District of Pasadena, CA. This elegant two-story office building totals approximately 7,774 square feet and is located on the north side of the iconic Rose Parade route on Colorado Boulevard. Boasting a healthy WalkScore of 97 (‘Walkers Paradise’), the Property offers convenient access to abundant surrounding retail amenities and public transportation. Constructed in 1926, the building was designed for Harry FitzGerald, who operated one of Pasadena’s most exclusive men’s stores for over twenty-five years. Designated on the National Register of Historic Places and thoughtfully preserved, the Property is currently utilized as an office and will be delivered vacant at the close of escrow. Featuring 22’ ceilings with large skylights, offices, conference rooms and dedicated private parking, this historic Property offers a user the rare opportunity to own a piece of Pasadena’s historic charm. With Mills Act designation, the Property offers the future owner with the unique and beneficial ability for significant property tax reduction.
PROPERTY FACTS
Sale Type
Owner User
Sale Condition
High Vacancy Property
Property Type
Building Size
7,774 SF
Building Class
B
Year Built
1926
Price
$8,368,541 CAD
Price Per SF
$1,076.48 CAD
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
3,887 SF
Building FAR
0.77
Lot Size
0.23 AC
Zoning
CD-4 - Office, Medical, Retail, Bank. Please visit the Pasadena Planning Department to verify all zoning and uses.
Parking
20 Spaces (2.57 Spaces per 1,000 SF Leased)
AMENITIES
- Skylights
- Basement
- High Ceilings
- Air Conditioning
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Walk Score®
Walker's Paradise (97)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 5723-028-020 | Improvements Assessment | $110,828 CAD |
| Land Assessment | $411,784 CAD | Total Assessment | $522,612 CAD |
PROPERTY TAXES
Parcel Number
5723-028-020
Land Assessment
$411,784 CAD
Improvements Assessment
$110,828 CAD
Total Assessment
$522,612 CAD
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489 E Colorado Blvd
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