Freestanding Medical
For Sale
$1,750,000
2915 W Magnolia Boulevard, Burbank, CA 91505
An optometry practice layout includes two bathrooms and rear tandem parking.
Property Size2,575 SF
Lot Size0.08 Acres
Price / SF$679.61
Days on Market37
Property Features for 2915 W Magnolia Boulevard
General Information
Standard status
Active
Size
2,575 SF
Total Parking Spaces
4
Lot size
0.08 Acres
Property subtype
Retail
Site & Location
Neighborhood
McNeil
Highway Access
Yes
Additional Details
Currently Operating
Yes
Property Use
Optometry Office
Medical Specialty
optometry
Amenities
two bathrooms
Building Details
Building Size
2,575 SF
Year Built
1948
Buildings
1
Listing Agency:
First Class Real Estate
(818) 261-9082
Listed By:
Natali Toth · License #01982061
(818) 569-0210
Source:
Monumentglobalestates
Added: Sep 28
Changed: Nov 3
Last Checked: Nov 3 at 8:28AM
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 First Class Real Estate
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Investment Insights
Based on property information with market context.
This freestanding medical office contains approximately 2,575 square feet on an approximately 3,375-square-foot lot. The existing optometry-office configuration includes two bathrooms. Two tandem parking areas behind the building accommodate up to four vehicles. The building dates to 1948.
The property is along Magnolia Boulevard in Burbank’s Magnolia Park business district, among boutiques, restaurants, cafes, professional services, and neighborhood businesses. Public parking is available throughout the district. The site is near major studios and residential neighborhoods, with freeway access.
The property is along Magnolia Boulevard in Burbank’s Magnolia Park business district, among boutiques, restaurants, cafes, professional services, and neighborhood businesses. Public parking is available throughout the district. The site is near major studios and residential neighborhoods, with freeway access.
Key Highlights
- Approximately 2,575 square feet of building area on an approximately 3,375‑square‑foot lot
- Current optometry office configuration with two bathrooms
- Two rear tandem parking areas accommodate up to four vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,088
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,301,760
$1.3M
Cap Rate 7%
$929,829
$929.8K
Cap Rate 9%
$723,200
$723.2K
Market Conditions
NOI Build-Up for 2,575 SF
Gross rent
$95.2K $36.96/SF
− Vacancy
−$2.2K −$0.85/SF
EGI
$93.0K $36.11/SF
− OpEx
−$27.9K −$10.83/SF
NOI
$65.1K $25.28/SF
Area
Burbank, CA
Vacancy
2.30%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,301,760
Cap Rate 7%
$929,829
Cap Rate 9%
$723,200
Alternative Uses
Best Use
Retail
$929.8K
$813.6K – $1.08M
NOI $65,088 @ 7.0% cap · market cap 3.72%
Second Best
Office B
$788.0K
$689.5K – $919.3K
NOI $55,157 @ 7.0% cap · market cap 3.15%
Theoretical Best
Multifamily LT 5
$52.17M
$45.65M – $60.86M
NOI $3,651,757 @ 7.0% cap · market cap 208.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,094
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91505, CA
32,371
Population
14,258
Households
2.3
Avg Household Size
40
Median Age
47%
College-Educated
94%
High-School Grad
5.4 sq mi
ZIP Area
5,995
Density / Sq Mi
$106,364
Median Household Income
$60,859
Median Earnings
$2,284
Median Rent
$992,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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- ftg, llc — 1812 W Burbank Blvd, Burbank, CA 91506, United States
Frequently Asked Questions
What type of property is this?
Medical Office Space - An optometry practice layout includes two bathrooms and rear tandem parking.
Where is this medical office space located?
The property is located at 2915 W Magnolia Boulevard Burbank, CA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Approximately 2,575 square feet of building area on an approximately 3,375‑square‑foot lot; Current optometry office configuration with two bathrooms; Two rear tandem parking areas accommodate up to four vehicles
