Mixed-Use Office and Medical
For Sale
Contact for pricing
Pending
1508 W Verdugo Ave, Burbank, CA 91506
Mixed-use office and medical portfolio in the heart of Burbank.
Property Size7,595 SF
Lot Size0.28 Acres
Days on Market149
Property Features for 1508 W Verdugo Ave
General Information
Standard status
Pending
Size
7,595 SF
Class
C
Lot size
0.28 Acres
Property subtype
Office, Retail
Zoning
BU C2*
Occupancy
81%
Investment Type
Net Lease
Net Operating Income
$227,081
Building Details
Year Built
1944
Year Renovated
2022
Buildings
2
Stories
1
Units
8
Listing Agency:
City Center Realty Group Inc
(818) 209-0922
Listed By:
Steve Hovakimyan · License #01363908
Source:
Crexi
Added: Mar 16
Changed: Aug 8
Last Checked: Aug 11 at 7:08AM
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 City Center Realty Group Inc
Investment Insights
Based on property information with market context.
This mixed-use office and medical portfolio is located at a major signalized corner in Burbank. The property consists of two buildings totaling approximately 7,595 square feet, situated on a combined 12,007 square foot lot. The property includes a diverse tenant mix of professional offices, medical suites, and a residential unit, providing multiple income streams. The buildings benefit from street exposure, pylon signage, and a private rear parking lot. Located near the intersection of Verdugo Avenue and Olive Avenue, the property is adjacent to Starbucks and close to Providence Saint Joseph Medical Center and Walt Disney Studios. This location is attractive for medical and professional tenants. This portfolio is suitable for an investor seeking stable income in a desirable commercial corridor or for an owner-user seeking partial occupancy.
Key Highlights
- Prime location at a major signalized corner in the heart of Burbank.
- Mixed‑use property with diverse tenant mix (office, medical, residential) providing multiple income streams.
- Two buildings totaling approximately 7,595 square feet on a 12,007 square foot lot.
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
$162,685
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
3.62%
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%
$3,253,700
$3.3M
Cap Rate 7%
$2,324,071
$2.3M
Cap Rate 9%
$1,807,611
$1.8M
Market Conditions
NOI Build-Up for 7,595 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
$255.2K $33.60/SF
− Vacancy
−$38.3K −$5.04/SF
EGI
$216.9K $28.56/SF
− OpEx
−$54.2K −$7.14/SF
NOI
$162.7K $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%
$3,253,700
Cap Rate 7%
$2,324,071
Cap Rate 9%
$1,807,611
Alternative Uses
Best Use
Office B
$2.32M
$2.03M – $2.71M
NOI $162,685 @ 7.0% cap · market cap 3.62%
Second Best
Healthcare Medical
$1.92M
$1.68M – $2.25M
NOI $134,741 @ 7.0% cap · market cap 3.00%
Theoretical Best
Multifamily LT 5
$153.87M
$134.64M – $179.52M
NOI $10,770,910 @ 7.0% cap · market cap 239.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,733
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?
Mixed-use property - Mixed-use office and medical portfolio in the heart of Burbank.
Where is this mixed-use property located?
The property is located at 1508 W Verdugo Ave Burbank, CA.
What is the asking price?
The asking price for this property is $4,495,000.
What are key features of this property?
This property features: Prime location at a major signalized corner in the heart of Burbank.; Mixed‑use property with diverse tenant mix (office, medical, residential) providing multiple income streams.; Two buildings totaling approximately 7,595 square feet on a 12,007 square foot lot.
