Office Unit with Three
For Sale
$695,000
23501 Park Sorrento, Calabasas, CA 91302
Flexible office condominium with vaulted ceilings, natural light, a private restroom, and on-site parking.
Property Size960 SF
Price / SF$723.96
Days on Market20
Property Features for 23501 Park Sorrento
General Information
Standard status
Active
Size
960 SF
Property subtype
Office
Occupancy
100%
Additional Details
Highway Access
Yes
Amenities
Heat Pump
3
Building Details
Year Built
1979
Tenancy
Single
Owner Occupied
No
Abandoned
No
Listing Agency:
Beverly and Company
(818) 835-4414
Listed By:
Shane Marechal · License #01948632
Source:
Xome
Added: Aug 12
Changed: Aug 30
Last Checked: Aug 30 at 11:40PM
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 office condominium at Brookwood Office Park was built in 1979 and offers a flexible interior arrangement with three separate entrances, tall vaulted ceilings, and abundant natural light. The suite includes multiple work areas, a voice-recording studio, a private restroom, and access to additional restrooms within the building. Its configuration can support private offices, creative studios, consultation rooms, or individual work areas, with the potential to create a more open collaborative setting.
The property is situated within a landscaped office park featuring mature trees, water features, and distinctive architectural elements. It is within walking distance of The Commons, Old Town Calabasas, shopping, dining, and the Calabasas Tennis & Swim Center, with the Calabasas Country Club nearby. The location also provides access to the 101 Freeway and includes on-site parking for owners, employees, and clients.
The property is situated within a landscaped office park featuring mature trees, water features, and distinctive architectural elements. It is within walking distance of The Commons, Old Town Calabasas, shopping, dining, and the Calabasas Tennis & Swim Center, with the Calabasas Country Club nearby. The location also provides access to the 101 Freeway and includes on-site parking for owners, employees, and clients.
Key Highlights
- Three separate entrances provide flexible access to the office condominium
- Tall vaulted ceilings and abundant natural light
- Includes multiple work areas and a voice‑recording studio
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
$20,985
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
3.02%
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%
$419,700
$419.7K
Cap Rate 7%
$299,786
$299.8K
Cap Rate 9%
$233,167
$233.2K
Market Conditions
NOI Build-Up for 960 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
$36.9K $38.40/SF
− Vacancy
−$8.9K −$9.25/SF
EGI
$28.0K $29.15/SF
− OpEx
−$7.0K −$7.29/SF
NOI
$21.0K $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%
$419,700
Cap Rate 7%
$299,786
Cap Rate 9%
$233,167
Alternative Uses
Best Use
Office B
$299.8K
$262.3K – $349.8K
NOI $20,985 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$514.0K
$449.7K – $599.7K
NOI $35,979 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
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 condominium with vaulted ceilings, natural light, a private restroom, and on-site parking.
Where is this office units located?
The property is located at 23501 Park Sorrento 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: Three separate entrances provide flexible access to the office condominium; Tall vaulted ceilings and abundant natural light; Includes multiple work areas and a voice‑recording studio
