Creative Office/Warehouse in
For Sale
$3,450,000
3608 San Fernando Road, Glendale, CA 91204
Modern creative office space with income potential in prime location.
Property Size5,121 SF
Lot Size0.16 Acres
Price / SF$673.70
Days on Market156
Property Features for 3608 San Fernando Road
General Information
Standard status
Active
Size
5,121 SF
Lot size
0.16 Acres
Property subtype
Office
Listing Agency:
CBRE - Downtown Los Angeles
(213) 613-3755
Listed By:
John Hillman · License #0122357
(213) 613-3755
Source:
Cbre
Added: Mar 25
Changed: Aug 12
Last Checked: Aug 26 at 6:18AM
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 CBRE - Downtown Los Angeles
Investment Insights
Based on property information with market context.
Located in Glendale, adjacent to Atwater Village and Glassell Park, this property presents an opportunity for owner-users or investors. The 5,121 square-foot building, situated on a 6,888 square-foot corner lot, was converted from an industrial warehouse into modern creative offices in 2013/2014, with a loft area added in 2019. The interior features exposed sandblasted red brick and wood beam ceilings. The property includes secured interior parking with a high bow-truss ceiling. One unit is currently owner-occupied and will be delivered vacant. The other unit is currently rented, providing income. The property has frontage on San Fernando Rd. The zoning is IMU-R. The location offers easy access to major freeways and sees a high traffic count of 40,079 vehicles per day. The property is near Atwater Village, Glassell Park, Los Feliz, Silverlake, Highland Park and Frogtown.
Key Highlights
- Delivered Vacant: One unit is owner‑occupied and will be delivered vacant, ideal for immediate use.
- Tenant Income: The second unit is currently rented, providing immediate income to offset operating expenses.
- Prime Location: Situated in Glendale, bordering Atwater Village and Glassell Park, with easy access to Los Feliz, Silverlake, Highland Park and Frogtown.
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
$100,762
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
2.92%
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%
$2,015,240
$2.0M
Cap Rate 7%
$1,439,457
$1.4M
Cap Rate 9%
$1,119,578
$1.1M
Market Conditions
NOI Build-Up for 5,121 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
$169.0K $33.00/SF
− Vacancy
−$34.6K −$6.77/SF
EGI
$134.3K $26.24/SF
− OpEx
−$33.6K −$6.56/SF
NOI
$100.8K $19.68/SF
Area
Glendale, CA
Vacancy
20.50%
Lease Rate
$33.00 /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%
$2,015,240
Cap Rate 7%
$1,439,457
Cap Rate 9%
$1,119,578
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,762 @ 7.0% cap · market cap 2.92%
Second Best
Warehouse
$1.03M
$905.5K – $1.21M
NOI $72,436 @ 7.0% cap · market cap 2.10%
Theoretical Best
Specialty Retail
$3.08M
$2.69M – $3.59M
NOI $215,593 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,304
Businesses Nearby
Explore this area
Business Placement
Demographics for 91204, CA
17,302
Population
7,095
Households
2.4
Avg Household Size
39
Median Age
36%
College-Educated
82%
High-School Grad
1.0 sq mi
ZIP Area
17,302
Density / Sq Mi
$72,906
Median Household Income
$41,556
Median Earnings
$1,924
Median Rent
$747,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Modern creative office space with income potential in prime location.
Where is this creative space located?
The property is located at 3608 San Fernando Road Glendale, CA.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: Delivered Vacant: One unit is owner‑occupied and will be delivered vacant, ideal for immediate use.; Tenant Income: The second unit is currently rented, providing immediate income to offset operating expenses.; Prime Location: Situated in Glendale, bordering Atwater Village and Glassell Park, with easy access to Los Feliz, Silverlake, Highland Park and Frogtown.
