95 N Marengo Ave, Pasadena, CA, 91101

95 N Marengo Ave Pasadena, CA 91101

95 N Marengo Ave, Pasadena, CA, 91101
95 N Marengo Ave, Pasadena, CA, 91101 95 N Marengo Ave, Pasadena, CA, 91101 95 N Marengo Ave, Pasadena, CA, 91101 95 N Marengo Ave, Pasadena, CA, 91101 95 N Marengo Ave, Pasadena, CA, 91101 95 N Marengo Ave, Pasadena, CA, 91101 95 N Marengo Ave, Pasadena, CA, 91101 95 N Marengo Ave, Pasadena, CA, 91101
FOR SALE
Property Type:
Multi Tenant Office
Amount:
$20,000,000
Last Verified:
Aug 30, 2024

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Highlights

  • Premium Location – Located just 2 blocks North of Colorado Blvd. and 1 block West
  • of Pasadena City Hall, The Turner and Stevens Co. building is in The Civic Center
  • District, a vibrant zone that sits between Old Pasadena and Playhouse Village. This
  • historic neighborhood is located in the heart of Pasadena and is 1/2 block from the
  • Old Pasadena Historic District, a 20-block area offering more than 200 specialty shops,
  • retail stores and boutiques, and more than 100 upscale restaurants, cozy bistros and
  • outdoor cafes.
  • Exceptional Quality – Great historic property that is adorned with authentic elements
  • throughout. Per California Historical Resources Description, “There is a pleasant open
  • arcade, the roof of which swoops up to relate it to the main mass of the building in
  • a way reminiscent of Greene and Greene and Bernard Maybeck. The chapel has a roof
  • which ties the whole composition to the ground so that the building fits admirably
  • into its slightly sloping site. The brickwork, which is of fine color and texture,
  • very well executed, lends warmth, interest and scale to the building. The windows,
  • too, are well executed. All materials are fine quality, and the whole structure is
  • admirably maintained.”
  • Irreplaceable Business Location - Currently occupied by a restaurant, theatre and
  • offices. Current zoning allows for various other uses such as medical office, work
  • live units, residential, indoor commercial recreation, cultural institutions, religious
  • facilities with affordable housing and charitable institutions per Central District
  • Specific Plan. Buyer should confirm the building eligibility for the City of Pasadena’s
  • Historic Contract Program established under the authority of a State enabled program
  • known as the Mills Act.
  • Convenient Parking & Transportation – In addition to the parking spaces provided
  • for in the parking lease with the City of Pasadena at the parking structure across the
  • street, the property is immediately adjacent to Old Pasadena which offers over 8,000
  • parking spaces including 3 public Park & Walk garages and private Parking structures,
  • and surface lots. City parking offers monthly parking from $85.00 to $95.00 per space
  • per month and visitor parking at $1.00 first 2 hours and $2.00 per hour thereafter with
  • a $12.00 daily max. Curbside parking meters are free before 11:00 am and $1.25/hour
  • thereafter. Only 2 doors to Metro A Line Station at Memorial Park Station.
  • Freeway Adjacent – Traffic volume of over 22,398 cars per day in each direction. Easy
  • access is 2 blocks from Rt-210/134 FWY On-Ramp with access to DTLA the San Gabriel
  • and San Fernando Valleys.
  • City Taxes – Businesses in Pasadena benefit from no city business, parking or
  • utility tax.
  • Affluent Demographics – with an average HHI of $170,210 in a 3-mile radius.

Description

Mixed- Used Retail Office Opportunity. For Sale Adjacent to Historic Old Pasadena. Martson & Van Pelt Architects

Northwest corner of N. Marengo Ave. and Holly Street. North Marengo Ave. has 2 lanes Northbound and 2 lanes Southbound + an additional left hand turn lane to Holly Street.


Year Built: 1922
Building Size: 15922sq ft
Building Class: C
Lot Size: 0.39 acres


Documents

95-N-MarengoAve Offering Memorandum

Map of 95 N Marengo Ave, Pasadena, CA, 91101

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

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