Glendale Cold-Chain Ready Commercial
For Sale
$2,590,000
3238 Foothill Blvd, Glendale, CA 91214
Dual-parcel commercial property with cold-chain infrastructure in a vibrant Glendale corridor.
Property Size2,200 SF
Lot Size0.18 Acres
Days on Market155
Property Features for 3238 Foothill Blvd
General Information
Standard status
Active
Size
2,200 SF
Lot size
0.18 Acres
Property subtype
Commercial
Building Details
Building Size
2,200 SF
Year Built
1938
Listing Agency:
(818) 500-4124
Listed By:
Andre Isakhanian
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 11 at 8:18AM
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 Andre Isakhanian
Investment Insights
Based on property information with market context.
This dual-parcel commercial property features two detached buildings suitable for food preparation, meat processing, distribution, or ghost kitchen operations. The main structure includes a storefront with customer-facing display counters and a back prep room equipped with stainless steel workstations, wall-mounted shelving, and a 3-compartment industrial sink. A newly installed Zurn GT2701-20 grease interceptor (40 lbs capacity, 20 GPM flow, 98.2% efficiency, ASME certified, manufactured April 2024) is also present. At the rear, a storage room opens into a large walk-in cooler powered by a NSF/UL-rated Heatcraft commercial refrigeration unit (Model LEL0115AS6ACAB0000, 115V, 2.25A motor circuit). The site is equipped with three PHASE-A-MATIC static phase converters (Models UL-300HD and UL-1200HD), enabling 230V 3-phase motor operation on single-phase input. It is pre-configured for future utility-supplied 3-phase service via Glendale Water & Power (GWP). The second building includes a private office with its own bathroom, a spacious rear storage area, and a dedicated walk-in freezer powered by a separate Heatcraft system (Model LEL0100BS6ECAB0000, 230V, 9.1A heater circuit, 2100W), also NSF and UL certified. The property offers sloped and striped front parking directly on Foothill Blvd with ADA compliance and protective bollards, secure gated rear access, and is zoned CH (Commercial Hillside), supporting retail, wholesale, production, and distribution uses. Located in a commercially vibrant Glendale corridor, this property is a turnkey opportunity for acquiring a cold-prep facility with significant infrastructure already in place.
Key Highlights
- Dual‑parcel property featuring two detached buildings, ideal for food prep, meat processing, distribution, or ghost kitchen operations.
- Main building features a modern storefront with customer‑facing display counters and a back prep room equipped with stainless steel workstations and a new Zurn grease interceptor.
- Equipped with three PHASE‑A‑MATIC static phase converters, enabling 230V 3‑phase motor operation.
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
$92,619
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
3.58%
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%
$1,852,380
$1.9M
Cap Rate 7%
$1,323,129
$1.3M
Cap Rate 9%
$1,029,100
$1.0M
Market Conditions
NOI Build-Up for 2,200 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
$130.7K $59.40/SF
− Vacancy
−$7.2K −$3.27/SF
EGI
$123.5K $56.13/SF
− OpEx
−$30.9K −$14.03/SF
NOI
$92.6K $42.10/SF
Area
Glendale, CA
Vacancy
5.50%
Lease Rate
$59.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,852,380
Cap Rate 7%
$1,323,129
Cap Rate 9%
$1,029,100
Alternative Uses
Best Use
Specialty Retail
$1.32M
$1.16M – $1.54M
NOI $92,619 @ 7.0% cap · market cap 3.58%
Second Best
Retail
$1.17M
$1.03M – $1.37M
NOI $82,166 @ 7.0% cap · market cap 3.17%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
816
Businesses Nearby
118k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Groceries 22%
Shops & Services 9%
Electronics 7%
In-N-Out Burger
Dining
26,334 visits/mo
0.4 miles
Albertsons
Groceries
25,524 visits/mo
0.4 miles
Starbucks
Dining
25,235 visits/mo
0.4 miles
Del Taco
Dining
7,931 visits/mo
0.4 miles
Big 5 Sporting Goods
Apparel
7,698 visits/mo
0.4 miles
Demographics for 91214, CA
31,097
Population
11,092
Households
2.8
Avg Household Size
43
Median Age
59%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
4,260
Density / Sq Mi
$131,716
Median Household Income
$68,236
Median Earnings
$2,475
Median Rent
$1,088,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Dual-parcel commercial property with cold-chain infrastructure in a vibrant Glendale corridor.
Where is this commercial kitchen located?
The property is located at 3238 Foothill Blvd Glendale, CA.
What is the asking price?
The asking price for this property is $2,590,000.
What are key features of this property?
This property features: Dual‑parcel property featuring two detached buildings, ideal for food prep, meat processing, distribution, or ghost kitchen operations.; Main building features a modern storefront with customer‑facing display counters and a back prep room equipped with stainless steel workstations and a new Zurn grease interceptor.; Equipped with three PHASE‑A‑MATIC static phase converters, enabling 230V 3‑phase motor operation.
