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    Turnkey Banquet & Event Facility Title is generated by Realmo AI

    18407 Sherman Way, Reseda, CA 91335

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    Pending
    $1,995,000

    Commercial Sale - Reseda, CA

    Property size:
    4,900 SF
    Lot size:
    0.23 Acres
    Added:
    Feb 18, 2026
    Days on Market:
    94
    Last Refresh:
    May 23 at 7:06 am

    Property Features for 18407 Sherman Way

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    APN
    2119022003
    Size
    4,900 SF
    Lot size
    0.23 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1954
    Architectural style
    Other

    We can help!

    Listing Contact
    Sona Gallatin
    Sona Gallatin

    Listing agent Sona Gallatin License #01488764

    Listing office Keller Williams VIP Properties 26650 The Old Road, Valencia, CA

    Listing date Feb 18, 2026

    MLS# SR26032524 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey banquet/event facility with high capacity (250‑300 guests).
    • Commercial‑grade kitchen with professional equipment and walk‑in refrigerator.
    • Includes a separate, flexible upper‑level office suite with kitchen and bathroom.
    • Designated parking lot (APN 2119‑022‑008, 5383 sq ft) in addition to the building lot (APN 2119‑022‑003, 4500 sq ft).
    • Built‑in stage and professional lighting system.
    • ADA‑compliant restrooms.

    Overview

    This turnkey banquet and event facility features exceptional capacity and infrastructure. The main hall accommodates approximately 250 guests with a dance floor, or up to 300 seated. It includes a built-in stage and professional lighting system, making it ideal for weddings, receptions, performances, and large gatherings. The commercial-grade kitchen is equipped with professional stoves and ovens, prep areas, and a walk-in refrigerator to support full catering operations. ADA-compliant restrooms are available on site. The upper level offers a large office suite, a common hall area, plus a full kitchen and bathroom, providing flexible space for administrative use, classes, or meetings. The property includes a second APN providing designated parking running the length of the building to the rear wall. Easy access is provided with convenient driveways from Canby St. and Darby St. The building sits on a 4,500 square foot lot, while the parking lot is 5,383 square feet, totaling 9,883 square feet. This is an excellent opportunity for an owner-user, nonprofit, religious institution, or event operator and is located in Reseda, CA.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $1.47M
    NOI $132,704 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.90M
    NOI $132,704 @ 7.00% cap · market / base-case scenario
    Aggressive
    $2.65M
    NOI $132,704 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $181.1k $36.96
    − Vacancy −$4.2k −$0.85
    EGI $176.9k $36.11
    − OpEx −$44.2k −$9.03
    NOI $132.7k $27.08
    4,900 SF · lease $36.96/SF/yr · vacancy 2.30% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $1.90M
    $1.66M – $2.21M (±1% cap)
    NOI $132,704 @ 7.0% cap · market cap 6.65%
    Second Best
    Retail
    $1.62M
    $1.42M – $1.90M (±1% cap)
    NOI $113,715 @ 7.0% cap · market cap 5.70%
    Theoretical Best
    Multifamily LT 5
    $99.27M
    $86.86M – $115.82M (±1% cap)
    NOI $6,948,974 @ 7.0% cap · market cap 348.32%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kessab Banquet Hall Hotel & Motel Kessab Educational Association Association / Organization

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reseda
    County
    Los Angeles
    State
    California
    Longitude
    -118.5341477
    Latitude
    34.2012858

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    • Contact for pricing
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    FAQs

    What type of property is this?
    Wedding venue - Banquet and event facility with exceptional capacity and infrastructure.
    Where is this wedding venue located?
    The property is located at 18407 Sherman Way Reseda, CA.
    What is the asking price?
    The asking price for this property is $1,995,000.
    What are key features of this property?
    This property features: Turnkey banquet/event facility with high capacity (250‑300 guests).; Commercial‑grade kitchen with professional equipment and walk‑in refrigerator.; Includes a separate, flexible upper‑level office suite with kitchen and bathroom.
    (818) 261-8306
    We can help!
    Listing Contact
    Sona Gallatin
    Sona Gallatin
    Real Estate License ID: 01488764
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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