Renovated Food Processing Flex
For Sale
$5,900,000
10658 Burbank Blvd, Los Angeles, CA 91601
Renovated two-story food processing, office, and storage building with commercial kitchen, cold storage, and efficient dock access.
Property Size13,930 SF
Price / SF$423.55
Days on Market49
Property Features for 10658 Burbank Blvd
General Information
Standard status
Active
Size
13,930 SF
Property subtype
Warehouse
Amenities
Functional Two-Story Commercial / Food Processing Facility
Recently Renovated Asset
Ample Land Area & On-Site Parking
Versatile Underlying C2-1 Zoning
Excellent North Hollywood Location
Building Details
Building Size
13,930 SF
Year Built
1945
Listing Agency:
Marcus & Millichap - Encino
(818) 212-2695
Listed By:
Lucas Mitchell · License #License(s): CA: 02241581
(818) 212-2695
Source:
Marcusmillichap
Added: Jun 28
Changed: Aug 14
Last Checked: Aug 15 at 3:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Encino
Investment Insights
Based on property information with market context.
The property is a renovated, two-story commercial/food processing, office, and storage facility built on approximately 0.37 acres across three parcels. The ground floor is built out for food-related operations, including a commercial kitchen, multiple walk-in refrigerators and freezers, floor drains, and waterproof lighting. An exterior refrigerated loading area supports cold-chain workflow, and two brand-new roll-up doors provide direct loading and distribution access. Interior improvements include refreshed office space, updated restrooms, upgraded electrical and lighting systems, new paint, and general repairs and maintenance, along with a newly resurfaced and restriped parking lot.
Set on a high-visibility hard corner between Vineland Avenue and Cahuenga Boulevard, the building offers over 90 feet of frontage along Burbank Boulevard and signage exposure to approximately 25,800 vehicles per day. The site includes 27 on-site parking spaces and is served by a freight/pallet lift connecting the ground floor to the second-floor offices.
The second-floor office has been refreshed with five private offices, new flooring and paint, upgraded restrooms, and a large storage area, making the layout practical for operations that require administrative space on-site. Zoned C2 1 for the buildings, with the parking lot zoned R1 1VL, the property provides a versatile zoning framework for a range of commercial, retail, office, and residential uses, depending on specific application and approvals.
Set on a high-visibility hard corner between Vineland Avenue and Cahuenga Boulevard, the building offers over 90 feet of frontage along Burbank Boulevard and signage exposure to approximately 25,800 vehicles per day. The site includes 27 on-site parking spaces and is served by a freight/pallet lift connecting the ground floor to the second-floor offices.
The second-floor office has been refreshed with five private offices, new flooring and paint, upgraded restrooms, and a large storage area, making the layout practical for operations that require administrative space on-site. Zoned C2 1 for the buildings, with the parking lot zoned R1 1VL, the property provides a versatile zoning framework for a range of commercial, retail, office, and residential uses, depending on specific application and approvals.
Key Highlights
- Renovated two‑story commercial/food processing, office, and storage facility on 0.37 acres across three parcels (approx. 13,930 SF).
- Ground floor built for food‑related operations with commercial kitchen, multiple walk‑in refrigerators/freezers, floor drains, and waterproof lighting.
- Refrigerated exterior loading area plus two brand‑new roll‑up doors for efficient deliveries and distribution.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$210,128
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,202,560
$4.2M
Cap Rate 7%
$3,001,829
$3.0M
Cap Rate 9%
$2,334,756
$2.3M
Market Conditions
NOI Build-Up for 13,930 SF
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.
Gross rent
$264.1K $18.96/SF
− Vacancy
−$16.9K −$1.21/SF
EGI
$247.2K $17.75/SF
− OpEx
−$37.1K −$2.66/SF
NOI
$210.1K $15.08/SF
Area
Los Angeles, CA
Vacancy
6.40%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,202,560
Cap Rate 7%
$3,001,829
Cap Rate 9%
$2,334,756
Alternative Uses
Best Use
Warehouse
$3.00M
$2.63M – $3.50M
NOI $210,128 @ 7.0% cap · market cap 3.56%
Second Best
Industrial
$2.47M
$2.16M – $2.88M
NOI $173,047 @ 7.0% cap · market cap 2.93%
Theoretical Best
Multifamily LT 5
$282.21M
$246.94M – $329.25M
NOI $19,754,941 @ 7.0% cap · market cap 334.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,866
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91601, CA
39,429
Population
20,539
Households
1.9
Avg Household Size
35
Median Age
51%
College-Educated
89%
High-School Grad
2.6 sq mi
ZIP Area
15,165
Density / Sq Mi
$77,540
Median Household Income
$48,907
Median Earnings
$2,115
Median Rent
$961,700
Median Home Value
Market
Vacancy Rate% for Industrial in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated two-story food processing, office, and storage building with commercial kitchen, cold storage, and efficient dock access.
Where is this flex space located?
The property is located at 10658 Burbank Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Renovated two‑story commercial/food processing, office, and storage facility on 0.37 acres across three parcels (approx. 13,930 SF).; Ground floor built for food‑related operations with commercial kitchen, multiple walk‑in refrigerators/freezers, floor drains, and waterproof lighting.; Refrigerated exterior loading area plus two brand‑new roll‑up doors for efficient deliveries and distribution.
