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    Two-Unit Medical Office & Retail Title is generated by Realmo AI

    1600 E Chevy Chase Dr, Glendale, CA 91206

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    New
    For Sale
    $1,600,000

    Signalized corner two-unit building with one medical vacancy and a leased quick-service food tenant.

    Type:Shopping Strip
    Property size:
    1,354 SF
    Lot size:
    0.15 Acres
    Price / SF:
    $1,181/SF
    Added:
    Jun 5, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 7 at 1:48 am

    Property Features for 1600 E Chevy Chase Dr

    General Information

    Standard status
    Active
    Size
    1,354 SF
    Lot size
    0.15 Acres
    Property subtype
    Shopping Strip

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    Brandon Michaels

    Listing agent Brandon Michaels License #License(s): CA: 01434685

    Listing office Marcus & Millichap

    Listing date Jun 5, 2026

    Source Marcusmillichap

    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 Marcus & Millichap

    HighLights

    • 1,354 SF two‑unit medical office/retail building on 0.15 acres at a signalized corner of E Glenoaks Blvd and Chevy Chase Dr (Glendale, CA).
    • Delivered with one 869 SF vacancy (formerly chiropractic) plus 485 SF leased to Chick Next Door.
    • Chick Next Door lease: $4,425/mo ($9.12/SF) on modified gross lease through June 1, 2028 with 5% annual increases each June.
    • Across from Adventist Health Glendale Hospital and medical campus for healthcare demand and complementary services.
    • Traffic counts exceed 15,000 vehicles per day; convenient access to 2 Freeway and 134 Freeway within 0.5 miles.
    • ~6 surface parking spaces (4.43 spaces per 1,000 SF), with multiple points of ingress/egress and restriping potential.

    Overview

    This two-unit medical office and retail property totals 1,354 square feet on a 0.15-acre site. The offering includes one 869-square-foot vacancy, formerly occupied by a chiropractic office, and one 485-square-foot unit leased to Chick Next Door. The quick-service tenant is optimized for high-volume walk-up service and has access to covered and outdoor seating. The property features approximately six surface parking spaces and includes multiple points of ingress and egress along Chevy Chase Drive and E Glenoaks Boulevard.

    Located on a signalized corner of Chevy Chase Drive and E Glenoaks Boulevard in Glendale, California, the site sits directly across from Adventist Health Glendale Hospital and its medical campus. The traffic counts exceed 15,000 vehicles per day, and convenient access to both the 2 Freeway (Glendale Freeway) and the 134 Freeway is available within 0.5 miles.

    The current layout provides an owner-user opportunity with the vacant medical suite available for immediate occupancy, while also supporting offset of operating expenses through the in-place income from the leased unit. The asset may also be suited for buyers looking to lease the vacancy to a medical or retail tenant upon completion of suitable improvements and tenant fit. The property is offered free and clear of existing debt, and seller financing is available for qualified buyers.
    Location Intelligence

    Current Use by Public Records

    Chick Next Door ... Restaurant

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Dr. Jeffrey N. Roberts, MD — 1505 Wilson Terrace, Glendale, CA 91206

    Location Insight

    • Map
    • Local Demand
    City
    Glendale
    County
    Los Angeles
    State
    California
    Longitude
    -118.228463
    Latitude
    34.1535217

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    FAQs

    What type of property is this?
    Medical Office Space - Signalized corner two-unit building with one medical vacancy and a leased quick-service food tenant.
    Where is this medical office space located?
    The property is located at 1600 E Chevy Chase Dr Glendale, CA.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: 1,354 SF two‑unit medical office/retail building on 0.15 acres at a signalized corner of E Glenoaks Blvd and Chevy Chase Dr (Glendale, CA).; Delivered with one 869 SF vacancy (formerly chiropractic) plus 485 SF leased to Chick Next Door.; Chick Next Door lease: $4,425/mo ($9.12/SF) on modified gross lease through June 1, 2028 with 5% annual increases each June.
    (818) 212-2794
    We can help!
    Listing Contact
    Brandon Michaels
    Real Estate License ID: License(s): CA: 01434685
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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