95 N Marengo Ave, Pasadena, CA, 91101
95 N Marengo Ave
Pasadena, CA 91101
FOR SALE
Property Type:
Multi Tenant OfficeAmount:
$20,000,000
Last Verified:
Aug 30, 2024Daily Email Blast
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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