Updated Dec 21, 2023
Faris Lee Investments Sells Retail Property In Pasadena For $28.5M
460 South Lake Avenue, Pasadena, California 91101, United States
$28,500,000
$740/SF
Building Size
38,513 SF
Asset Type
Retail
Closing
Feb 3, 2022
About this deal
AI
A retail property located at 460 S. Lake Ave. in Pasadena has been sold for $28,500,000. The property spans across 38,513 square feet, resulting in a price per square foot of $740. The transaction took place on February 4, 2022, with a capitalization rate of 4.73%. The property is situated in the Pasadena market.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $28,500,000
- Square Footage: 38,513
- Price Per Square Foot: $740
- Date: February 4, 2022
- Capitalization Rate: 4.73%
- Market: Pasadena
The sale of this retail property was facilitated by Faris Lee Investments, with brokers Jeff Conover, Don MacLellan, and Scott DeYoung representing the parties involved.
On the Map
$28,500,000
$740/SF
Retail
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Players
Pasadena Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93