Listing Agency: Stevenson Real Estate Services Show Phone

Listed By: Ante Trinidad · License #CA 00704267 Show Phone

Source: Moodyscre

Added: Nov 29, 2023 Changed: Oct 26 Last Checked: Oct 28 at 11:43AM

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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 Stevenson Real Estate Services

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Investment Insights

Based on property information with market context.

Multi-building flex space delivered to an owner-user purchaser with month-to-month tenancies and/or partially vacant areas. The property includes 3,150 SF at 1022 W Burbank Blvd and 4,165 SF at 1024 W Burbank Blvd, plus three auxiliary structures totaling 4,165 SF split across 1,954 SF, 1,356 SF, and 855 SF.

The site offers 180' of frontage on W Burbank Boulevard and is located across from Costco. The flexible configuration supports a variety of flex and combination uses.

This is a four-building layout with on-site auxiliary structures, designed to give an owner flexibility to occupy some space while accommodating month-to-month tenants or potential downtime.

Key Highlights

• Four‑building flex property totaling 7,315 SF
• 180' frontage on W Burbank Boulevard
• Across from Costco

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$110,344

Cap Rate

3.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,206,880 $2.2M

Cap Rate 7%

$1,576,343 $1.6M

Cap Rate 9%

$1,226,044 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,315 SF

Gross rent

$138.7K $18.96/SF

− Vacancy

−$8.9K −$1.21/SF

EGI

$129.8K $17.75/SF

− OpEx

−$19.5K −$2.66/SF

NOI

$110.3K $15.08/SF

Area

Burbank, 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 Rate 5%

$2,206,880

Cap Rate 7%

$1,576,343

Cap Rate 9%

$1,226,044

Alternative Uses

Best Use

Warehouse

$1.58M

$1.38M – $1.84M (±1% cap)

NOI $110,344 @ 7.0% cap · market cap 3.29%

Second Best

Industrial

$1.30M

$1.14M – $1.51M (±1% cap)

NOI $90,871 @ 7.0% cap · market cap 2.71%

Theoretical Best

Multifamily LT 5

$148.20M

$129.67M – $172.90M (±1% cap)

NOI $10,373,826 @ 7.0% cap · market cap 309.67%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Hotel & Motel Auto Parts Store Storage Facility Food Market Big Box & Wholesale Store Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,648

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 91506, CA

19,338

Population

8,530

Households

2.3

Avg Household Size

43

Median Age

47%

College-Educated

94%

High-School Grad

2.4 sq mi

ZIP Area

8,058

Density / Sq Mi

$107,171

Median Household Income

$60,017

Median Earnings

$1,913

Median Rent

$1,055,600

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Similar Off Market Nearby

• Robert's Catering Services — 101 N Victory Blvd Suite G & F, Burbank, CA 91502
• Command Performance Catering — 2217 W Burbank Blvd, Burbank, CA 91506
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Frequently Asked Questions

What type of property is this?

Flex space - Four-building flex property totaling 7,315 SF with month-to-month tenancies and auxiliary structures on-site.

Where is this flex space located?

The property is located at 1022-1024 W Burbank Blvd Burbank, CA.

What is the asking price?

The asking price for this property is $3,350,000.

What are key features of this property?

This property features: Four‑building flex property totaling 7,315 SF; 180' frontage on W Burbank Boulevard; Across from Costco