Glendale Commercial Condominiums For
For Sale
$7,750,000
400-610 W Broadway, Glendale, CA 91205
Commercial condominiums for sale in Glendale, shell condition, customizable spaces.
Property Size22,000 SF
Price / SF$352.27
Days on Market192
Property Features for 400-610 W Broadway
General Information
Standard status
Active
Size
22,000 SF
Listing Agency:
Keller Williams R. E. Services
(818) 230-3228
Listed By:
Arthur Ambarchyan · License #01351863
(818) 230-3228
Source:
Exprealty
Added: Feb 18
Changed: Aug 23
Last Checked: Aug 29 at 1:11PM
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 Keller Williams R. E. Services
Investment Insights
Based on property information with market context.
Commercial condominiums are available for sale at 610 W Broadway in Glendale. Suites range from approximately 618 SF up to 22,000 SF, offering the opportunity to acquire contiguous space or control the entire building. The project is delivered in newly constructed shell condition, providing a customizable space for medical, retail, or professional environments. Two combined spec medical suites are currently being constructed. A design and build program is in place to support purchasers through every phase of development. Architects are available to collaborate directly with buyers to design layouts tailored to their operational needs. The team will guide owners through the City of Glendale entitlement and permitting process and can coordinate construction partners to deliver move-in-ready spaces. The parking program delivers approximately 4 spaces per 1,000 SF, featuring dedicated reserved owner parking complemented by visitor and patient capacity. Constructed to meet current seismic and ADA standards, the property offers predictable occupancy costs and potential tax advantages. Positioned along a highly visible Glendale corridor, the project offers SBA financing options for acquisition and buildout, presenting an opportunity for owner-users, medical groups, professional firms, and investors.
Key Highlights
- Opportunity to own commercial space and build long‑term equity.
- Suites available from 618 SF up to 22,000 SF; acquire contiguous space or the entire building.
- Delivered in newly constructed shell condition, a blank canvas for customized spaces.
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
$432,878
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
5.59%
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%
$8,657,560
$8.7M
Cap Rate 7%
$6,183,971
$6.2M
Cap Rate 9%
$4,809,756
$4.8M
Market Conditions
NOI Build-Up for 22,000 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
$726.0K $33.00/SF
− Vacancy
−$148.8K −$6.77/SF
EGI
$577.2K $26.24/SF
− OpEx
−$144.3K −$6.56/SF
NOI
$432.9K $19.68/SF
Area
Glendale, CA
Vacancy
20.50%
Lease Rate
$33.00 /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%
$8,657,560
Cap Rate 7%
$6,183,971
Cap Rate 9%
$4,809,756
Alternative Uses
Best Use
Office B
$6.18M
$5.41M – $7.21M
NOI $432,878 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.23M
$11.58M – $15.44M
NOI $926,195 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,602
Businesses Nearby
Explore this area
Business Placement
Demographics for 91205, CA
36,693
Population
14,424
Households
2.5
Avg Household Size
41
Median Age
39%
College-Educated
84%
High-School Grad
1.9 sq mi
ZIP Area
19,312
Density / Sq Mi
$59,005
Median Household Income
$42,393
Median Earnings
$1,890
Median Rent
$763,100
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 - Commercial condominiums for sale in Glendale, shell condition, customizable spaces.
Where is this office units located?
The property is located at 400-610 W Broadway Glendale, CA.
What is the asking price?
The asking price for this property is $7,750,000.
What are key features of this property?
This property features: Opportunity to own commercial space and build long‑term equity.; Suites available from 618 SF up to 22,000 SF; acquire contiguous space or the entire building.; Delivered in newly constructed shell condition, a blank canvas for customized spaces.
