Pasadena, California, is a prime location for investing in Retail Properties, with a strong economy and a population of approximately 140,000 residents. Retail Properties in Pasadena offer a unique opportunity for investors to tap into the city's rich cultural scene, with attractions like the Norton Simon Museum, Pasadena City College, and the Tournament of Roses Parade drawing in visitors from across the country. As a retail hub, Pasadena is home to a variety of shopping centers, restaurants, and office properties, making it an attractive location for businesses and investors alike. With its ideal location, just 11 miles northeast of downtown Los Angeles, Pasadena offers easy access to major transportation hubs, including the Los Angeles Metro A Line light rail and the Hollywood Burbank Airport. The city's infrastructure, including the Pasadena Water and Power Department and the Glenarm Power Plant, ensures a reliable supply of water and power to support businesses and residents. Additionally, Pasadena's education institutions, such as Caltech and Pasadena City College, provide a highly skilled workforce, making it an attractive location for businesses looking to set up shop.
With 39 Retail Properties for sale in Pasadena, investors have a wide range of options to choose from. Pasadena's Retail Properties offer an average price per square foot of $810 USD, with an average size of 12,974 square feet. The largest Retail Property available is 76,424 square feet, providing ample space for businesses to grow and thrive. In addition to Retail Properties, Pasadena is also home to Shopping Centers, with their own unique characteristics and investment opportunities. Restaurants in Pasadena offer a diverse range of cuisines, from fine dining to casual eats. Office Properties in Pasadena provide a professional and convenient location for businesses, with access to major transportation hubs and amenities. Hotels in Pasadena cater to the city's many visitors, offering a range of accommodations and services. With its rich cultural scene, strong economy, and diverse range of properties, Pasadena is an attractive location for investors looking to invest in Retail Properties.
What is the average cap rate for retail properties in Pasadena?
When it comes to retail properties in Pasadena, investors can expect an average cap rate of 5.75%, which is a key metric to consider when evaluating potential investments. To learn more about how cap rates work and what they mean for your investment strategy, check out our article on what is a cap rate, which provides a comprehensive overview of this important concept.
How do location and foot traffic affect retail property values?
In Pasadena, a city known for its cultural attractions and scientific institutions, the location and foot traffic of retail properties play a significant role in determining their values. Properties situated in areas with high foot traffic, such as Old Pasadena, Downtown, and foothill communities like Arcadia and Monrovia, tend to have higher values due to their proximity to popular destinations, public transportation, and major employers, making them more attractive to businesses and customers alike.
