End-Unit Office
For Sale
$695,000
23501 Park Sorrento #213, Calabasas, CA 91302
Flexible office layout with multiple entrances, vaulted ceilings, and a private restroom.
Property Size900 SF
Price / SF$772.22
Days on Market9
Property Features for 23501 Park Sorrento #213
General Information
Standard status
Active
Size
900 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Amenities
private restroom
additional building restroom facilities
mature landscaping
water features
Heat Pump Heating
Lot Over 40000 Sqft
Building Details
Year Built
1979
Listing Agency:
BEVERLY AND COMPANY
(818) 835-4414
Listed By:
SHANE MARECHAL · License #01948632
Source:
Corcoran
Added: Aug 15
Changed: Aug 18
Last Checked: Aug 23 at 5:55AM
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 BEVERLY AND COMPANY
Investment Insights
Based on property information with market context.
This 900-square-foot office condominium is an end unit within Brookwood Office Park, built in 1979. The suite includes three entrances, vaulted ceilings, strong natural light, a private restroom, and an additional bonus area associated with the property’s original sales-office configuration. Its existing layout includes multiple work areas and a voice-recording studio, while the rooms can remain separated or be reconfigured into a more open workspace.
The property is located at 23501 Park Sorrento #213 in Calabasas, within walking distance of The Commons, Old Town Calabasas, shopping, dining, and the Calabasas Tennis Swim Center. Mature landscaping, established trees, water features, and on-site parking serve the office park. The Calabasas Country Club is nearby, with access to the 101 Freeway.
The property is located at 23501 Park Sorrento #213 in Calabasas, within walking distance of The Commons, Old Town Calabasas, shopping, dining, and the Calabasas Tennis Swim Center. Mature landscaping, established trees, water features, and on-site parking serve the office park. The Calabasas Country Club is nearby, with access to the 101 Freeway.
Key Highlights
- 900‑square‑foot end‑unit office condominium
- Three separate entrances and vaulted ceilings
- Private restroom plus nearby building restroom 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
$19,673
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
2.83%
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%
$393,460
$393.5K
Cap Rate 7%
$281,043
$281.0K
Cap Rate 9%
$218,589
$218.6K
Market Conditions
NOI Build-Up for 900 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
$34.6K $38.40/SF
− Vacancy
−$8.3K −$9.25/SF
EGI
$26.2K $29.15/SF
− OpEx
−$6.6K −$7.29/SF
NOI
$19.7K $21.86/SF
Area
Los Angeles County, CA
Vacancy
24.10%
Lease Rate
$38.40 /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%
$393,460
Cap Rate 7%
$281,043
Cap Rate 9%
$218,589
Alternative Uses
Best Use
Office B
$281.0K
$245.9K – $327.9K
NOI $19,673 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$481.9K
$421.6K – $562.2K
NOI $33,730 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,106
Businesses Nearby
Explore this area
Business Placement
Demographics for 91302, CA
25,468
Population
10,235
Households
2.5
Avg Household Size
45
Median Age
71%
College-Educated
98%
High-School Grad
27.4 sq mi
ZIP Area
929
Density / Sq Mi
$167,470
Median Household Income
$91,426
Median Earnings
$3,011
Median Rent
$1,674,900
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?
Office units - Flexible office layout with multiple entrances, vaulted ceilings, and a private restroom.
Where is this office units located?
The property is located at 23501 Park Sorrento #213 Calabasas, CA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 900‑square‑foot end‑unit office condominium; Three separate entrances and vaulted ceilings; Private restroom plus nearby building restroom facilities
