Creative Space with Production
For Sale
Contact for pricing
217 S Lake Street, Burbank, CA 46536
Condominium creative space with specialized media facilities, robust building systems, and connectivity for production-oriented users.
Property Size64,412 SF
Price / SF$480
Days on Market9
Property Features for 217 S Lake Street
General Information
Standard status
Active
Size
64,412 SF
Total Parking Spaces
54
Property subtype
Office, Industrial
Zoning
BCCM
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Amenities
ATMOS stages
screening theaters
ADR and foley facilities
color-grading suites
editing bays
fiber-based data connectivity
Building Details
Year Built
1960
Year Renovated
2012
Buildings
1
Stories
1
Building Size
64,412 SF
Owner Occupied
Yes
Listing Agency:
Avison Young - North Los Angeles
(818) 939-1259
Listed By:
Christopher Bonbright · License #00823957
Source:
Crexi
Added: Jul 29
Changed: Aug 5
Last Checked: Aug 5 at 1:48AM
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.
This approximately 19,666-square-foot legal condominium is part of South Lake Media Park, a seven-condominium creative office and post-production complex totaling approximately 64,412 square feet. The MPAA-approved campus includes purpose-built production improvements such as ATMOS stages, screening theaters, ADR and foley facilities, color-grading suites, editing bays, and administrative areas. The property also provides substantial electrical and HVAC capacity along with fiber-based data connectivity. Roofing, plumbing, electrical, and HVAC systems are described as well maintained, and the layout can support entertainment, media, technology, production, and creative office operations.
The condominium is located on South Lake Street immediately south of Olive Avenue in Burbank. The property is near the 5, 101, and 134 freeways, within walking distance of the Downtown Burbank Metrolink station, and offers access to major studios, Hollywood, and the broader Los Angeles market. The condominium may be acquired individually or alongside other units within the project, allowing for ownership of a single operating location or an expanded footprint.
The condominium is located on South Lake Street immediately south of Olive Avenue in Burbank. The property is near the 5, 101, and 134 freeways, within walking distance of the Downtown Burbank Metrolink station, and offers access to major studios, Hollywood, and the broader Los Angeles market. The condominium may be acquired individually or alongside other units within the project, allowing for ownership of a single operating location or an expanded footprint.
Key Highlights
- Approximately 19,666‑square‑foot legal condominium
- Part of a seven‑condominium, approximately 64,412‑square‑foot media complex
- MPAA‑approved campus with ATMOS stages, screening theaters, ADR, foley, and color‑grading facilities
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
$421,246
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
4.46%
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%
$8,424,920
$8.4M
Cap Rate 7%
$6,017,800
$6.0M
Cap Rate 9%
$4,680,511
$4.7M
Market Conditions
NOI Build-Up for 19,666 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
$660.8K $33.60/SF
− Vacancy
−$99.1K −$5.04/SF
EGI
$561.7K $28.56/SF
− OpEx
−$140.4K −$7.14/SF
NOI
$421.2K $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%
$8,424,920
Cap Rate 7%
$6,017,800
Cap Rate 9%
$4,680,511
Alternative Uses
Best Use
Office B
$6.02M
$5.27M – $7.02M
NOI $421,246 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$398.42M
$348.62M – $464.82M
NOI $27,889,495 @ 7.0% cap · market cap 295.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,584
Businesses Nearby
Explore this area
Business Placement
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?
Creative space - Condominium creative space with specialized media facilities, robust building systems, and connectivity for production-oriented users.
Where is this creative space located?
The property is located at 217 S Lake Street Burbank, CA.
What is the asking price?
The asking price for this property is $9,439,680.
What are key features of this property?
This property features: Approximately 19,666‑square‑foot legal condominium; Part of a seven‑condominium, approximately 64,412‑square‑foot media complex; MPAA‑approved campus with ATMOS stages, screening theaters, ADR, foley, and color‑grading facilities
