12
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Listed by Han Chen • Growth Investment Group Pasade
$850,000
Est. payment /mo
New
1507 Lincoln Avenue Pasadena, CA 91103
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Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR-25143017
Year Built 1927
Property Sub-Type Retail
Property Description
100% vacant Freestanding Single-story retail building near Rose Bowl area in Pasadena. This 100% vacant property provides a unique retail use or a development opportunity. Strategically located on the corner of Lincoln Ave and Del Mar St, this freestanding retail is conveniently located only one block from the FWY 210 entry/exit ramp, and within walking distance to Rose Bowl Area and 2 blocks from Brookfield Golf Course. It has a LA-MU-N zoned (Pasadena Mixed-Use Neighborhood - buyer to verify with the city), which allows for a wide range of commercial or residential or mix of both uses. This property offers excellent visibility with ?50ft Lincoln Ave frontage which provides significant traffic volume (?19k VPD). It is surrounded by major Pasadena landmarks such as John Muir High School (0.5mile), Brookside Golf Club (2 blocks away), Rose Bowl Area (several blocks), various well-known Museums (2-3miles), Old Pasadena (2.5miles), and other amenities and employment centers in Pasadena. The property was built in 1927, this single-story retail store has a total of 2,139 SF space and situated on a flat 4,049 SF lot. It had been operated as a well-known neighborhood convenience store before the owner retired recently. This property has been in the same ownership family since 1988. Currently vacant, the property has the flexibility to be upgraded as a retail shop or re developed, suited to the buyer's desired project. Excellent visibility of a 124FT long street frontage on Lincoln Ave, 6 to 8 on-site parking spaces (depending on how buyer configure it - buyer to verify), plus plenty of additional street parking on Lincoln Ave and Del Monte St. A transferable beer and wine license (buyer to verify) is also included in the sale, adding significant value to this income-generating retail asset. The only neighborhood convenience store in the area surrounded by residential brings the opportunity well-suited for owner-users, investors pursuing steady cash flow, or buyers looking to enhance value through alternative retail concepts. It has good demographics with $121,291 AHH Income within a mile radius. The property is located at the corner of Lincoln Ave and Del Monte St, just walking distance from Brookfield Golf Course and Rose Bowl area which housed Rose Bowl Stadium, Rose Bowl Aquatic Center, Kidspace Children's Museum, Rose Bowl Flea Market and Brookside Golf Club.
Location
State CA
County Los Angeles
Area 645 - Pasadena Nw
Interior
Heating See Remarks
Laundry None
Exterior
Utilities Available Sewer Connected, Cable Available, Electricity Connected, Natural Gas Connected, Phone Available
Building
Lot Description Level, Level with Street, Near Public Transit, Rectangular Lot, Corner Lot