Romantix - Old Pasadena

Old Pasadena, is a vibrant and historically significant area known for its well-preserved architecture and bustling commercial district. Originating in the late 19th century, it played a pivotal role in Pasadena’s development, showcasing an array of styles from Victorian to Art Deco. The area is a popular destination for shopping, dining, and entertainment. Its streets are lined with a mix of unique boutiques, national retailers, art galleries, and restaurants, set against a backdrop of historic buildings many of which have been meticulously restored. Area tenants include Apple, Tiffany & Co, Alo, Nike, Lululemon, Vuori, Tesla, Crate & Barrel, Pottery Barn, and many more. Pasadena, CA, is renowned for its historic architecture, and educational institutions, including the prestigious California Institute of Technology. It’s famous for the annual Rose Parade and Rose Bowl Game, drawing visitors from around the globe. The city boasts a diverse community, thriving arts scene, and extensive shopping districts. Nestled against the San Gabriel Mountains, Pasadena offers a blend of natural beauty and urban sophistication, making it a desirable location for residents and businesses alike.Cap Rate is Pro Forma. The Subject Property is a +6,881 square foot, two-story with basement, multi-tenant retail/office mixed-use building situated on a +2,867 square foot lot in Pasadena, CA., strategically located on the north side of Colorado Boulevard and nestled between Fair Oaks Avenue and Raymond Avenue. The property is 32% occupied by Romantix under a new 10-year lease extension. Currently, the property has two vacancies: a +2,422 square foot office space on the second floor and a +2,276 square foot finished basement. The vacant office suite, measuring +2,422 square feet is in rent-ready condition and can be accessed directly from Colorado Boulevard via its own entryway and a staircase. The +2,276 square foot basement is fully finished, equipped with lighting, HVAC, and offers a seven-foot clearance to the beams, making it an attractive option for a variety of uses in this highly space-constrained market. Access to the basement is provided through a small lobby off Exchange Alley at the rear of the property.Lease Description