|PROPERTY USE TYPE
|| 1.12 / 1,000 SF
- An Owner/User can occupy as much as 13,500 SF today with an opportunity to occupy the entire building (18,000 SF) in 2016 as leases expire
- Pride of ownership asset- well maintained office building limiting future capital expenditures
- Opportunity to lease an additional 15-20 Parking spaces within 150 feet of the property on long term basis
- The entire ground floor space can be converted to Medical Office
- Affluent trade area demographics and exceptional retail amenities within blocks of the subject property
- An Owner/User will save approximately 56% versus leasing similar product with an after-tax equity build-up of $4.25 million over a 10 year period
Hudson Partners is pleased to present for sale 1118 E Green Street in Pasadena CA. The property is located in one of Pasadena’ s most sought-after areas. The improvements consist of a four-story office building totaling approximately 18,000 square feet office/medical space on an approximately 11,866 square feet parcel. There are currently 18 parking spaces available on site. In addition, there are 15 to 20 parking spaces available as a long term lease within 100 feet of the subject property. Furthermore, the additional parking is in compliance to satisfy the required amount of parking space needed to convert the ground floor to medical use. The subject property offers an owner user or an investor the opportunity to acquire an asset that has great visibility and identity.
Now is the time to take advantage of low interest rates and protect your business from future rental market spike. Rather than paying rent to a landlord, your rent will pay off the property mortgage and provide a more attractive after tax return. Net occupancy cost after ownership benefits excluding appreciation is approximately $0.97 per-square foot.
***Contact listing brokers for offering memorandum
The subject property location is regarded as one of Pasadena’ s most desirable commercial regions, surrounded by its numerous walk able amenities and attractions along Lake Ave and Colorado Street. With tremendous access to freeways and transportation.