Retail Business for Sale in Pasadena, CA

  • Price: $75.7M
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Pasadena, CA 91105
  • Size: 77,046 SF

Description

The Newmark Pacific Retail Capital Markets Team is proud to present the opportunity for qualified investors: the acquisition of Whole Foods’ flagship Pasadena location (the “Property”), located near the heart of Old Town Pasadena. This flagship purpose-built Whole Foods represents a premier ±77,046 square foot NNN-leased investment opportunity, backed by a recent lease extension and fortress credit. The opportunity features approximately 12.5 years of firm lease term remaining, with near-term growth through scheduled 8% rental increases in 2027, plus three additional 5-year option periods, each with 10% escalations. This increase schedule ensures stable, predictable, and growing cash flow for investors, offering long-term security and income growth. This is the flagship Whole Foods that was customized for their use to serve their key customer base in the heart of the highly-desirable Pasadena/West San Gabriel Valley. The property is also strategically improved with its own dedicated loading docks, allowing Whole Foods/Amazon high-throughput loading and delivery to this strategic infill market, proximate to major arterials and highways. Strategically situated in one of Southern California’s most affluent and dynamic retail corridors, the property benefits from strong demand fundamentals. The dense Pasadena trade area boasts over 200,000 residents with average household incomes nearing $165,000 and enjoys proximity to top employers and research institutions such as Caltech and NASA JPL. The Property offers 275 dedicated parking spaces and excellent access, strengthening both tenant performance and the property’s future value. The site’s adjacency to the transformative Affinity mixed-use development further enhances its positioning in the market. Pasadena’s robust employment base in the technology, healthcare, and professional sectors, combined with ongoing multi-family and commercial development, continues to drive resilient and expanding retail demand. The generous s

Market Context

This retail in Pasadena, CA is listed for sale at $75,703,000 across 77,046 SF. It has been on the market for 6 days. Compare it against other retail listings for sale in Pasadena, CA — <a href="/search/sale/retail/california/pasadena">view the full market</a>.

As of Q3 2023, the Greater Los Angeles retail market showed rents up 0.5% year over year, and cap rates around 5.0%. Source: Consensus Q3 2023 market report.

Retail market FAQ

What is the typical cap rate for retail in Greater Los Angeles?
About 5.0% as of Q3 2023, per Consensus.

Unified Estimate

Medium Confidence

$326.50/SF – $441.74/SF

Mid: $384.12/SF

Total estimate for 77,046 SF: $29,594,910

Rate-first confidence-weighted blend with cost-of-business adjustment.

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