Freestanding Burbank Office Building For
For Sale
Contact for pricing
1420 West Olive Avenue, Burbank, CA 91506
13,600 SF office building in the heart of Burbank.
Property Size13,600 SF
Price / SF$698.53
Days on Market94
Property Features for 1420 West Olive Avenue
General Information
Standard status
Active
Size
13,600 SF
Total Parking Spaces
52
Property subtype
Retail, Office
Occupancy
100%
Lease Type
Modified
Investment Type
Net Lease
Net Operating Income
$478,587
Building Details
Tenancy
Single
Listing Agency:
Avison Young - North Los Angeles
(818) 939-1259
Listed By:
Christopher Bonbright · License #00823957
Source:
Crexi
Added: May 7
Changed: Aug 8
Last Checked: Aug 8 at 10:04AM
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 Avison Young - North Los Angeles
Investment Insights
Based on property information with market context.
Located in Burbank, California, the property at 1420 West Olive Avenue is a freestanding office building offering 13,600 square feet of space. Situated at a prominent six-way intersection, the property benefits from dual access points on Olive and Verdugo Avenues, ample on-site parking, and street visibility. The building is fully leased under a newly executed 15-year term to the U.S. General Services Administration (GSA) for use as a Social Security Administration (SSA) branch office. The lease is backed by the full faith and credit of the United States of America, which holds a Aa1 credit rating from Moody’s Investors Service. The GSA is widely regarded as one of the most reliable tenants in the market, with historically strong renewal rates. This branch, which was consolidated from other branches, is known as the Media Cities Social Secuirty Administration Office, it provides a multitude of services (including appeals, added in 2018) to a large geographic area. The property is located within one of Burbank’s most desirable submarkets and offers convenient access to Hollywood, Glendale, and the greater San Fernando Valley. The building is surrounded by a mix of retail, dining, and lifestyle amenities.
Key Highlights
- Leased to U.S. Government (GSA) with a newly executed 15‑year term.
- Lease backed by the full faith and credit of the United States of America (Aa1 Moody's rating).
- Freestanding 13,600 SF office building in a desirable Burbank submarket.
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
$291,312
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
3.07%
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%
$5,826,240
$5.8M
Cap Rate 7%
$4,161,600
$4.2M
Cap Rate 9%
$3,236,800
$3.2M
Market Conditions
NOI Build-Up for 13,600 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
$457.0K $33.60/SF
− Vacancy
−$68.5K −$5.04/SF
EGI
$388.4K $28.56/SF
− OpEx
−$97.1K −$7.14/SF
NOI
$291.3K $21.42/SF
Area
Burbank, CA
Vacancy
15.00%
Lease Rate
$33.60 /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%
$5,826,240
Cap Rate 7%
$4,161,600
Cap Rate 9%
$3,236,800
Alternative Uses
Best Use
Office B
$4.16M
$3.64M – $4.86M
NOI $291,312 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$275.53M
$241.09M – $321.45M
NOI $19,286,948 @ 7.0% cap · market cap 203.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,322
Businesses Nearby
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - 13,600 SF office building in the heart of Burbank.
Where is this office building located?
The property is located at 1420 West Olive Avenue Burbank, CA.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: Leased to U.S. Government (GSA) with a newly executed 15‑year term.; Lease backed by the full faith and credit of the United States of America (Aa1 Moody's rating).; Freestanding 13,600 SF office building in a desirable Burbank submarket.
