Mixed-Use Portfolio with Medical
For Sale
$4,495,000
1510 Verdugo, Burbank, CA 91506
Renovated commercial portfolio combining professional office, medical office, and residential space near major Burbank institutions.
Property Size7,595 SF
Lot Size0.28 Acres
Price / SF$591.84
Days on Market191
Property Features for 1510 Verdugo
General Information
Standard status
Active
Size
7,595 SF
Net Rentable
7,365 SF
Total Parking Spaces
9
Lot size
0.28 Acres
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 3BR/1BA
Multifamily Units
1
Office Units
6
Additional Details
Asking Price
$4,495,000
Amenities
Central Air
Level
Level.
Building Details
Year Built
1944
Buildings
2
Tenancy
Multi
Listing Agency:
City Center Realty Group
(818) 845-5551
Listed By:
Steve Hovakimyan · License #01363908
Source:
Xome
Added: Feb 20
Changed: Aug 29
Last Checked: Aug 29 at 9:10PM
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
Investment Insights
Based on property information with market context.
This mixed-use portfolio includes two buildings on separate parcels with a combined land area of approximately 12,007 square feet and approximately 7,595 square feet of building area. The improvements contain three professional office suites, one three-bedroom, one-bathroom residential unit, and three medical office suites. Across the property, there are eight tenant spaces and approximately 7,365 square feet of net rentable area. Private rear parking, pylon signage, and street exposure are additional physical features. Renovations were completed in 2022 and 2025.
The property occupies the signalized corner of Verdugo Avenue and Olive Avenue in Burbank. It is near Providence Saint Joseph Medical Center and Walt Disney Studios, adjacent to Starbucks, and accessible to the 5 and 134 freeways. The portfolio includes approximately 3,475 square feet at 1508 W Verdugo Ave and approximately 4,120 square feet at 1510 W Verdugo Ave.
The property occupies the signalized corner of Verdugo Avenue and Olive Avenue in Burbank. It is near Providence Saint Joseph Medical Center and Walt Disney Studios, adjacent to Starbucks, and accessible to the 5 and 134 freeways. The portfolio includes approximately 3,475 square feet at 1508 W Verdugo Ave and approximately 4,120 square feet at 1510 W Verdugo Ave.
Key Highlights
- Two‑building mixed‑use portfolio on two parcels totaling approximately 12,007 square feet of land
- Approximately 7,595 square feet of building area and 7,365 SF net rentable area
- Eight tenant spaces include professional office, medical office, and residential components
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
Lease Details
6
Office units
1
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,253
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated commercial portfolio combining professional office, medical office, and residential space near major Burbank institutions.
Where is this mixed-use property located?
The property is located at 1510 Verdugo 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: Two‑building mixed‑use portfolio on two parcels totaling approximately 12,007 square feet of land; Approximately 7,595 square feet of building area and 7,365 SF net rentable area; Eight tenant spaces include professional office, medical office, and residential components
