Updated Oct 29, 2024
Lee & Associates Sells Vacant Retail Building In Pasadena For $7.1M
865 E Colorado Blvd Pasadena, CA 91101, USA
$7,100,000
$707/SF
Building Size
10,039 SF
Asset Type
Retail
Closing
Jun 16, 2023
About this deal
AI
A vacant retail building in Pasadena was sold by KSO Pasadena, LLC for $7.1 million. The property, located at 865 East Colorado Boulevard, has a total square footage of 10,039. The price per square foot is $707.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,100,000
- Address: 865 East Colorado Boulevard
- Market: Pasadena
The deal was facilitated by the brokerage firm Lee & Associates. The team of Sean Fang, Robert Clifford, Vaun Lennon, Colleen Carey, and Jodi Shoemake represented both the buyer and the seller in this transaction. They are now planning to transform the vacant retail building into a restaurant. Additionally, they will assist in leasing the space to a popular dining establishment in the future.
On the Map
$7,100,000
$707/SF
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.23%
Cash-on-Cash
-0.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93