LAND: 31,000 SF (188’X165’) BUILDING: 6,840 SF (ASSESSOR’S ... · approximately 6,840 square feet of buildings (per Tax Assessor) on a corner lot. The property is situated at

LINCOLN AVENUE

WYO

MIN

G S

TREET

TOO

LEN P

LAC

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1955 1975

REDEVELOPMENT OR OWNER/USER INVESTMENT OPPORTUNITYPASADENA, CALIFORNIA

LAND: 31,000 SF (188’X165’) BUILDING: 6,840 SF (ASSESSOR’S RECORDS)1955 - 1975 LINCOLN AVENUE, PASADENA, CALIFORNIA 91103

STEVE NELSONFirst Vice President+1 818 502 [email protected]. 00644825

| RETAIL INVESTMENT PROPERTIES | FOR SALE

| RETAIL INVESTMENT PROPERTIES 1955-1975 LINCOLN AVE. | PASADENA, CA | 2

INVESTMENT SUMMARY

1955 1975

Chap

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Lincoln Avenue Specific Plan

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Figure 2-3 Baseline Land Uses (2010)

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Wyoming St

W Hammond St

Canada Ave

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Laun St

Del Monte St

Idaho St

W Montana St

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Westgate St

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Pepper St

Toolen Pl

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Anderson Pl

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Coniston Rd

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MacDonald St

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Existing Land Use

Single-Unit Residential

Multi-Unit Residential

Commercial/Retail

Industrial

Institutional

Vacant

Source: City of Pasadena, 2009,and Hogle-Ireland, Inc.

0 400 800Feet

Specific Plan Boundary

Freeway/Highway

Primary Street

Secondary Street

Private Street

Existing Structures


INVESTMENT SUMMARY

The Lincoln Avenue Properties, located in Pasadena, presents an investor/developer or owner/user a tremendous opportunity to ac-quire two (2) parcels of land (under separate ownerships and to be sold independently) totaling approximately 31,000 square feet with approximately 6,840 square feet of buildings (per Tax Assessor) on a corner lot. The property is situated at the SWC of Lincoln Avenue and Toolen Place within the Lincoln Avenue Specific Plan corridor. The district includes several Pasadena businesses including: 24 Hour Fitness, Panda Express, Kettles Nursery, Honeybee Robotics, Super King Market and Muir High School. The site is zoned LASP-CG-1 which can be further described by visiting the city at: https://ww5.cityofpasadena.net/planning.

• Opportunity to acquire a corner development site in Pasadena• Existing 6,840 SF structure (Google Estimate of corner buildings)• Excellent visibility with 188 feet of combined frontage along Lincoln

Avenue and 165 feet long along Toolen Place• LASP-CG-1 zoning allowing a variety of commercial uses within

the Lincoln Avenue specific plan, a district designed to promote employment generating/community serving resources

• Estimated Population of over 141,000 within a 3 mile radius• 99,917 Estimated Daytime Employees with a 3 mile radius• 2017 Average Household Income within a 3 mile radius: $116,452

The Lincoln corridor has revamped itself over recent years as a hip des-tination. With the addition of new cafés, ice cream parlor and creative shops add charm to existing nurseries and long standing family owned businesses offering nearby resident’s additional opportunities to fulfill their dining, retail and fitness needs. New businesses are: Perry’s Joint Cafe, Lincoln Cafe, Good Earth Pharmacy, and NuFit Pro Center.

Address: 1955 1975

Offering Price: $920,000 $1,675,000

Land Area: 10,230 SF 20,790 SF

Existing Bldg. GLA (Assessor): N/A 6,840 SF

Zoning: LASP-CG-1 LASP-CG-1

SITE

1975

1955


PROPERTY DESCRIPTION

ADDRESS1975 Lincoln Avenue1955 Lincoln Avenue

LAND AREA (APPROX.)20,760 SF10,230 SF

BUILDING AREA6,840 SF ±N/A

APN’s5825-009-052 5825-009-053

COMBINED SITESFRONTAGELincoln Avenue: 188’ FeetToolen Place: 165’ Feet

TOTAL LAND AREA31,000 SF ±

ZONINGLASP-CG-1

TRAFFIC COUNTSLincoln Avenue: 22,658 CPDSource: Kalibrate 2003

OWNERSHIPS1975: B.G.Holt Enterprises1955: Charlene Thomas Trust

OFFER PRICE$1,675,000$920,000


PROPERTY PHOTOS

NEIGHBORING PROPERTIES

NEW 24 HOUR FITNESS

1975 1955

TENANTS ACROSS THE STREET SUPER KING MARKETKNOWN FOR ITS PRODUCE

PROPERTY PHOTOS


ZONING OVERVIEW

SITE

SPECIFIC PLAN ZONING

LINCOLN AVENUE LASP-CG-1

Purpose of LASP

Repurposing the Lincoln Avenue corridor from an industrial and limited commercial area into a vibrant neighborhood- oriented district, with new housing options and a complement of local-serving retail and service businesses, office spaces and community uses, all tied together with public improve-ments that create a vibrant and enjoyable pedestrian environ-ment, and to create a neighborhood “main street” that will serve as the focal point for the neighborhoods surrounding Lincoln Avenue.

Facilitate opportunities for catalytic developments that provide desired neighborhood-oriented retail and service businesses, local employment opportunities, and a link to the community.


SALE COMPARABLES


AREA MAP

© 2018 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness,completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced. Layout ID: L19 MapId: 5134078

SITE


AERIAL OVERVIEW

© 2018 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness,completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced. Layout ID: L19 MapId: 5123647


AREA OVERVIEW

Lincoln Corridor

Link to: Demographic Information (Buxton©)


AREA OVERVIEW

Pasadena is one of the primary cultural centers of Los Angeles County. The city is known for hosting the annual Rose Bowl football game and Tournament of Roses Parade. Pasadena is also home to several scientific and cultural institutions, including California Institute of Technology (Caltech), Jet Propulsion Laboratory (JPL), Pasadena Playhouse, Norton Simon Museum of Art, and many others. Pasadena is the ninth-largest city in Los Angeles County. The city is primarily serviced by Foothill Freeway (I-10) & Ventura Freeway (SR 134) and Arroyo Seco Parkway (SR 110) also known as the Pasadena Freeway.

Pasadena, CaliforniaDemographic Brief

2015 Estimated Population: 141,641Percent

Percentage Change 2010 to 2015: 3.3%

2015 Est. Households: 57,386

2015 Est. Avg. HH Income: $95,349

2015 Est. Daytime Employment: 126,019

2015 Est. Avg. Age: 39.8

Source: Nielsen


AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT

AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT

CBRE, Inc. operates within a global family of companies with many

subsidiaries and/or related entities (each an “Affiliate”) engaging in a

broad range of commercial real estate businesses including, but not

limited to, brokerage services, property and facilities management,

valuation, investment fund management and development. At times

different Affiliates may represent various clients with competing

interests in the same transaction. For example, this Memorandum

may be received by our Affiliates, including CBRE Investors, Inc. or

Trammell Crow Company. Those, or other, Affiliates may express

an interest in the property described in this Memorandum (the

“Property”) may submit an offer to purchase the Property and may

be the successful bidder for the Property. You hereby acknowledge

that possibility and agree that neither CBRE, Inc. nor any involved

Affiliate will have any obligation to disclose to you the involvement of

any Affiliate in the sale or purchase of the Property. In all instances,

however, CBRE, Inc. will act in the best interest of the client(s) it

represents in the transaction described in this Memorandum and will

not act in concert with or otherwise conduct its business in a way

that benefits any Affiliate to the detriment of any other offeror or

prospective offeror, but rather will conduct its business in a manner

consistent with the law and any fiduciary duties owed to the client(s) it

represents in the transaction described in this Memorandum.

This is a confidential Memorandum intended solely for your limited

use and benefit in determining whether you desire to express further

interest in the acquisition of the Property. This Memorandum contains

selected information pertaining to the Property and does not purport

to be a representation of the state of affairs of the Property or the

owner of the Property (the “Owner”), to be all-inclusive or to contain

all or part of the information which prospective investors may require

to evaluate a purchase of real property. All financial projections and

information are provided for general reference purposes only and

are based on assumptions relating to the general economy, market

conditions, competition and other factors beyond the control of the

Owner and CBRE, Inc. Therefore, all projections, assumptions and

other information provided and made herein are subject to material

variation. All references to acreages, square footages, and other

measurements are approximations. Additional information and an

opportunity to inspect the Property will be made available to interested

and qualified prospective purchasers. In this Memorandum, certain

documents, including leases and other materials, are described in

summary form. These summaries do not purport to be complete nor

necessarily accurate descriptions of the full agreements referenced.

Interested parties are expected to review all such summaries and

other documents of whatever nature independently and not rely on

the contents of this Memorandum in any manner.

Neither the Owner or CBRE, Inc, nor any of their respective directors,

officers, Affiliates or representatives make any representation or

warranty, expressed or implied, as to the accuracy or completeness of

this Memorandum or any of its contents, and no legal commitment or

obligation shall arise by reason of your receipt of this Memorandum

or use of its contents; and you are to rely solely on your investigations

and inspections of the Property in evaluating a possible purchase of

the real property.

The Owner expressly reserved the right, at its sole discretion, to

reject any or all expressions of interest or offers to purchase the

Property, and/or to terminate discussions with any entity at any

time with or without notice which may arise as a result of review of

this Memorandum. The Owner shall have no legal commitment or

obligation to any entity reviewing this Memorandum or making an

offer to purchase the Property unless and until written agreement(s)

for the purchase of the Property have been fully executed, delivered

and approved by the Owner and any conditions to the Owner’s

obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum

and its contents are of a confidential nature, that you will hold and

treat it in the strictest confidence and that you will not disclose this

Memorandum or any of its contents to any other entity without the

prior written authorization of the Owner or CBRE, Inc. You also

agree that you will not use this Memorandum or any of its contents

in any manner detrimental to the interest of the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in

purchasing the Property, kindly return this Memorandum to CBRE,

Inc.

© 2019 CBRE, Inc. This information has been obtained from sources

believed reliable. We have not verified it and make no guarantee,

warranty or representation about it. Any projections, opinions,

assumptions or estimates used are for example only and do not

represent the current or future performance of the property. You and

your advisors should conduct a careful, independent investigation

of the property to determine to your satisfaction the suitability of the

property for your needs.

Documents

LAND: 31,000 SF (188’X165’) BUILDING: 6,840 SF (ASSESSOR’S ... · approximately 6,840 square feet of buildings (per Tax Assessor) on a corner lot. The property is situated at