2,940 s sale - loopnet

COLLEN [email protected] ID 01258120

Lee & Associates-Pasadena | 155 N. Lake Avenue, Suite 430 | Pasadena, CA 91101 | #02059558 | lee-pasadena.com

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted to errors, omissions, change of price, rental or other conditions prior to sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

PROFESSIONAL OFFICE BUILDING FOR SALE IN PASADENA

±2,940 SF FOR SALE

CONTACT 1222 Lincoln AvenuePasadena, CA 91103

Property to be Delivered Vacant at Close of Escrow

lee-pasadena.comCOLLEEN CAREY | 626.240.2782 | [email protected]

1222LINCOLN AVENUEPASADENA, CA 91103

FOR SALEPROFESSIONAL OFFICE BUILDING IN PASADENA

OFFERING INFORMATION+ Purchase Price: $1,748,000 ($595 /SF)

+ Building Size: ±2,940 SF

+ Land Size: ±6,382 SF

+ Year Built: 1948 / 2016

+ Parking Ratio: 2/1,000

+ Parcel Number: 5727-018-014

+ Zoning: LASP/RM-16

+ Owner/User Opportunity-Will be Vacant upon COE

+ Nine (9) Perimeter Offices, Central Glass Conference Room

+ Completely Rebuilt in 2016

+ Custom High End Finishes

+ 2 Tesla Charging Stations on Site

PROPERTY HIGHLIGHTS

LINCOLN AVE.LINCOLN AVE.

CLAREM

ONT ST.

CLAREM

ONT ST.

I-210 FREEWAYI-210 FREEWAY




PROPERTY FEATURESThis stunning, recently remodeled office building features a central glass conference room, perimeter offices, contemporary kitchen/restrooms and a private garage with electric charging station. The property features a rod iron fenced/gated parking lot with a Tesla charging station, above standard security features and a second Tesla charging station in a private garage.




PROPERTY FEATURES• Security: Interior motion detectors, 4

exterior cameras, Enviroblinds on all windows and doors

• Skylights and LED Lighting Through Out

• CAT 5 & 6 Data Cabling

• Two Power Panels

• 7.5 Ton HVAC Capacity




PROPERTY PHOTOS




+ Located in the rapidly gentrifying Lincoln Avenue Area

+ Zoned for Mixed Use and Commercial

+ Easy Access to the 210 Freeway

+ Near both Old Pasadena and La Canada Flintridge

LOCATION HIGHLIGHTS

WASHINGTON BLVD.WASHINGTON BLVD.

LINCO

LN AVE.

LINCO

LN AVE.

ROSE BO

WL D

R.

ROSE BO

WL D

R.

BROOKSIDE BROOKSIDE GOLF COURSEGOLF COURSE

MOUNTAIN ST.MOUNTAIN ST.

CLAREMONT ST.CLAREMONT ST.

Craftsman Brewing CoStark Spirits DistilleryAround the Cycle

THE BUSINESS PARK OF PASADENA

Lincoln Avenue Christian Church

1222 Lincoln Ave.

2020 TOTAL POPULATION

24,997 1 MILE

162,209 3 MILES

403,931 5 MILES

2020 TOTAL HOUSEHOLDS

7,042 1 MILE

62,334 3 MILES

148,946 5 MILES

$88,110 1 MILE

$116,857 3 MILES

$118,410 5 MILES

2020 AVG HOUSEHOLD INCOME

N̂




FLOOR PLANPARCEL MAP




PASADENA LOCATION

LINCOLN CORRIDOR The Lincoln corridor has revamped itself over recent years as a hip new destination drawing in not only the locals but visitors from neighboring cities. The addition of new cafés, an ice cream parlor, and creative shops add charm to existing nurseries and longstanding family owned businesses offering nearby resident’s additional opportunities to fulfill their dining, retail and fitness needs. The City of Pasadena has made efforts to establish itself as a viable technology cluster and in doing so, tech businesses have emerged throughout the city. The Business Park of Pasadena located at the south west corner of Lincoln Avenue and Washington Avenue, houses a variety of tech companies such as Honeybee Robotics, MDA US Systems LLC, as well as a microbrewery and micro distillery. The Lincoln corridor has successfully leveraged its assets and has repositioned itself as the new up and coming spot in Pasadena.

INDUSTRIESWhile Pasadena is synonymous with the Tournament of Roses Parade and the Rose Bowl game, it is also home to dozens of renowned technology companies, including NASA’s Jet Propulsion Laboratory, which is managed by the California Institute of Technology.

Home to a mix of public and private research interests, Pasadena has emerged as one of California’s most innovative technology areas. In recent years, the City of Pasadena has increased efforts to encourage the growth of local technology companies through tax incentives and waivers and the creation of enterprise zones.

AMENITIESPasadena is rich with amenities of local, national, and international stature. From the Pasadena Museum of California Art to the Norton Simon, to educational institutions such as Caltech and Art Center College of Design, doing business in the City of Pasadena is rewarding on many levels of commercial traffic in the City.

NEARBY ATTRACTIONSWorld Famous Rose BowlThere aren’t many communities with their own football stadium, and there are fewer with such stature as Pasadena’s Rose Bowl. Hosting the annual Rose Bowl Game - Granddaddy of Them All (R), the regular BCS - Bowl Championship Series, international sporting events and concerts from artists like U2 to Jay-Z and Justin Timberlake, the Rose Bowl is a major generator of commercial traffic in the City.

Art Center College of DesignLocated in the San Rafael Hills, the internationally recognized Art Center College of Design is a leader in exploring the digital and new-media frontier. An independent, nonprofit four-year college, Art Center offers degrees in Advertising, Graphic Design, Illustration, Photography, Product Design, Transportation Design, Fine Art, Design, New Media and Critical Theory. The college was founded in 1930 and has an enrollment of 1,200 full-time students.

Jet Propulsion Laboratory (JPL)Pasadena is home to many scientific and cultural institutions, including NASA’s JPL and Caltech. The Jet Propulsion Laboratory is a federally funded research and development center and NASA field center. Founded in the 1930s, JPL is currently owned by NASA and managed by the nearby California Institute of Technology (Caltech) for NASA. The laboratory’s primary function is the construction and operation of planetary robotic spacecraft, though it also conducts Earth-orbit and astronomy missions. It is also responsible for operating NASA’s Deep Space Network.

CITY OF PASADENALocated approximately ten miles from downtown Los Angeles and 25 miles inland from the Pacific Ocean, the city of Pasadena is the sixth-largest city in Los Angeles County, and serves as the main cultural center of the San Gabriel Valley.

Photo Cred: Racked




PPrrooppoosseedd SSBBAA 550044 LLooaann SSttrruuccttuurree

SSBBAA 550044 AAddvvaannttaaggeess::

n Up to 90% financing - 10% down payment preserves precious working capitaln Attractive Long Term Fixed Rates - lock in occupancy cost savingsn No additional collateral - no lien on residence requiredn Large scale projects possible, e.g.$20+ millionn Unlimited loans for manufacturers and qualifying "green" projectsn Wide range of participating lender partners with competitive rates

FFAASSTT,, FFRREEEE PPRREEQQUUAALLIIFFIICCAATTIIOONN -- CCOONNTTAACCTT UUSS TTOODDAAYY!!

UUssee ooff PPrroocceeeeddss::

Building Purchase $1,748,000Improvements $0Equipment $0

$$11,,774488,,000000

Want to see an Own vs. Rent Analysis (before and after tax) for this property? Call Us!

SSBBAA 550044 FFIINNAANNCCIINNGG SSTTRRUUCCTTUURREE ffoorr PPuurrcchhaassee::PPrroojjeecctt IInntteerreesstt AAmmoorrtt TTeerrmm MMoonntthhllyy AAnnnnuuaall

%% SSoouurrccee ooff FFuunnddss AAmmoouunntt RRaattee ((yyeeaarrss)) ((yyeeaarrss)) PPaayymmeenntt PPaayymmeenntt

50% Lender/Bank 1st Trust Deed (a) $874,000 3.25% 20 30 $4,957 $59,48740% CDC/SBA 504 2nd Trust Deed - (b) $699,200 2.62% 25 25 $3,278 $39,3391100%% BBoorrrroowweerr ccaasshh ddoowwnn $$117744,,880000

100% $$11,,774488,,000000 2.97% blended rate $$88,,223366 $$9988,,882277

(a) Interest rate and terms are set by the bank, can be fixed or variable and typically range from 15- to 30-year amortizations.

(b) Points + fees on the SBA 504 loan ((22..6655%% ++ $$22,,330000)) are "pay as you go" over the term of the SBA 504 loan - rolled into principal and are not out-of-pocket costs.$721,000 .

SBA 504 rate is set at time of loan funding and is set based on 10 year treasury rate plus spread and fees.

FFoorr mmoorree iinnffoorrmmaattiioonn,, vviissiitt uuss aatt:: wwwwww..ccaallssttaatteewwiiddee..ccoomm




SBA 504 LOAN PROGRAMFOR OWNER-USER COMMERCIAL/INDUSTRIAL PROPERTIES

Purpose: For purchase, improvement or construction of owner-occupied commercial/ industrial real estate.

Occupancy Requirement: 51% owner occupancy for purchase of existing and build-to-suit building or condo (for new construction, initial occupancy requirement of 60%).

Project Size: $300,000 to $20,000,000+

Typical Structure: 50% Bank 1st Deed of Trust (higher LTV possible with certain lenders) 40% SBA-backed Certified Development Company (CDC) 2nd Deed of Trust 10% Borrower Injection (15% for special purpose building or startup)

Terms: Bank 1st – up to 30 year amortization /minimum 10 year term SBA/CDC 504 2nd – 25, 20 or 10 year term, fully amortizing

Interest Rates: Bank 1st – fixed or variable (multiple options available) SBA/CDC 504 2nd – fixed rate, based on 10 year treasury index (for 25 year term loan) + fees and market spread to investors

504 Rate History: 25-year full-term effective fixed rate, SBA portion (indicates month funded): 25-year overall effective rate (fixed) – Current SBA Rate 2.62%

Fees: Bank 1st – typically 0.5% -1.0% SBA/CDC 2nd – 2.65% + $2,500 attorney closing costs – fees financed as part of loan (i.e. not out-of-pocket) Out-of-pocket costs include appraisal and environmental review, escrow and title fees

Prepayment: Bank 1st - varies SBA/CDC 2nd – declining fee for the first 10 years (based on cost of funds); SBA 504 loan assumable in certain cases

Prequalification And Eligibility: Prequalification within 24-48 hours (no prequalification fee or deposit required). Request 3 years business tax returns + 3 years of personal tax returns and personal financial statement for any business owner with 20% or greater share

Lender Referrals: California Statewide partners with a wide range of 1st mortgage lenders – we can assist you to obtain the most competitive rates and terms.

PREQUALIFICATION GETS YOU STARTED!

Prequalification is the first step in the SBA financing process. California Statewide CDC provides prequalification for SBA 504 financing at no charge. We do it quickly and efficiently!

To perform a prequalification, we request the following information:

• Three years corporate/company tax returns

• Interim (current year) financial statements (no older than 60 days)

• Personal financial statement(s)*

• (From owners of 20% or greater of the business)

• Three years individual tax returns

• (From owners of 20% or greater of the business)

• Schedule of business debt*

• Description of property and building improvements (if applicable)

* Forms available from California Statewide CDC.

CALIFORNIA STATEWIDE CDC – ABOUT USCalifornia Statewide Certified Development Corporation is a 501(c) (4) non-profit organization that provides low cost, fixed rate commercial real estate financing to expanding small businesses under the U.S. Small Business Administration’s 504 lending program. We work in partnership with a wide range of leading private lending institutions. Since our founding in 1987, we have provided over $2.6 billion in total project financing to small business enterprises throughout California.

Our Mission

Our mission is to help growing small businesses acquire the commercial property they need to support their operations, and in the process, deliver the highest level of service and added value to our small business customers and business partners.

Our Values

• Maintain the highest ethical standards – do what’s right for the customer

• Deliver on our promises and provide full disclosure – no surprises

• Continuously look for ways to improve efficiency, accelerate turnaround and minimize cost for the borrower

• Be easily accessible to our customers and partners – meet with borrowers face-to-face, always answer questions and return calls and messages without delay

• Give back to the communities in which we lend

Why California Statewide CDC?

• We are a Premier Certified Lender, representing the SBA’s highest certification level

• Our loan officers are commercial lending professionals who are intimately involved in ensuring your financing is successful, from start to finish. We provide common sense explanations and offer one-stop service

• No deposit fee or hidden liability if SBA loan is not taken

• Experts in processing and closing – our backroom team and closing attorneys are among the most experienced in the industry

• We have a focus on quality of execution and consistent delivery for our customers

Giving Back to Local Communities

California Statewide CDC is the industry leader and innovator in charitable giving. Every year, we set aside 85% of our net proceeds for donations to charitable organizations providing critical community-based services.

Contact:

Carlo Samson, Senior Loan [email protected]

2,940 s sale - loopnet

Documents