Creative Space with Production
For Sale
Contact for pricing
237 S Lake Street, Burbank, CA 91502
Specialized creative workspace with robust technical systems, production improvements, and access to Burbank’s studio and regional transportation network.
Property Size64,412 SF
Price / SF$480
Days on Market56
Property Features for 237 S Lake Street
General Information
Standard status
Active
Size
64,412 SF
Total Parking Spaces
28
Property subtype
Office, Industrial, Special Purpose
Zoning
BCCM
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Office Units
1
Amenities
ATMOS stages
screening theaters
ADR and foley facilities
color-grading suites
editing bays
production areas
administrative areas
robust electrical infrastructure
robust HVAC infrastructure
fiber-based data connectivity
Building Details
Year Built
1960
Year Renovated
2012
Stories
1
Building Size
64,412 SF
Listing Agency:
Avison Young - North Los Angeles
Listed By:
Christopher Bonbright · License #00823957
(818) 939-1259
Source:
Crexi
Added: Jul 29
Changed: Sep 17
Last Checked: Sep 22 at 6:19PM
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 ± 9,754-square-foot legal condominium is part of South Lake Media Park, a seven-condominium creative office and post-production complex totaling ± 64,412 square feet. The property includes specialized production improvements such as ATMOS stages, screening theaters, ADR and foley facilities, color-grading suites, editing bays, and administrative areas. Robust electrical and HVAC infrastructure, along with fiber-based data connectivity, supports media and production operations. The improvements are in good condition, including maintained roofing, plumbing, electrical, and HVAC systems.
The property is positioned on South Lake Street immediately south of Olive Avenue in Burbank. It is near the 5, 101, and 134 freeways, within walking distance of the Downtown Burbank Metrolink station, and provides access to major studios, Hollywood, and the broader Los Angeles market. The condominium may be acquired individually or alongside other available units within the project.
The property is positioned on South Lake Street immediately south of Olive Avenue in Burbank. It is near the 5, 101, and 134 freeways, within walking distance of the Downtown Burbank Metrolink station, and provides access to major studios, Hollywood, and the broader Los Angeles market. The condominium may be acquired individually or alongside other available units within the project.
Key Highlights
- ± 9,754‑square‑foot legal condominium
- Part of a seven‑condominium, ± 64,412‑square‑foot creative office and post‑production complex
- ATMOS stages, screening theaters, ADR and foley facilities, color‑grading suites, and editing bays
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
$208,931
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%
$4,178,620
$4.2M
Cap Rate 7%
$2,984,729
$3.0M
Cap Rate 9%
$2,321,456
$2.3M
Market Conditions
NOI Build-Up for 9,754 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
$327.7K $33.60/SF
− Vacancy
−$49.2K −$5.04/SF
EGI
$278.6K $28.56/SF
− OpEx
−$69.6K −$7.14/SF
NOI
$208.9K $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%
$4,178,620
Cap Rate 7%
$2,984,729
Cap Rate 9%
$2,321,456
Alternative Uses
Best Use
Office B
$2.98M
$2.61M – $3.48M
NOI $208,931 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$197.61M
$172.91M – $230.55M
NOI $13,832,713 @ 7.0% cap · market cap 295.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,084
Businesses Nearby
Explore this area
Business Placement
Demographics for 91502, CA
11,665
Population
5,734
Households
2
Avg Household Size
39
Median Age
43%
College-Educated
87%
High-School Grad
1.3 sq mi
ZIP Area
8,973
Density / Sq Mi
$61,443
Median Household Income
$46,046
Median Earnings
$1,899
Median Rent
$946,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Creative space - Specialized creative workspace with robust technical systems, production improvements, and access to Burbank’s studio and regional transportation network.
Where is this creative space located?
The property is located at 237 S Lake Street Burbank, CA.
What is the asking price?
The asking price for this property is $4,681,920.
What are key features of this property?
This property features: ± 9,754‑square‑foot legal condominium; Part of a seven‑condominium, ± 64,412‑square‑foot creative office and post‑production complex; ATMOS stages, screening theaters, ADR and foley facilities, color‑grading suites, and editing bays
