Office Building with Regional Freeway
For Sale
Contact for pricing
425 West Broadway, Glendale, CA 91204
Office asset with access to major freeways including I-5, SR-2, SR-134, and I-210.
Property Size72,611 SF
Price / SF$247.21
Days on Market111
Property Features for 425 West Broadway
General Information
Standard status
Active
Size
72,611 SF
Total Parking Spaces
182
Property subtype
Office
Zoning
SFMU - Commercial/ Residential Mixed Use
Occupancy
100%
Investment Type
Institutional
Additional Details
Highway Access
Yes
Building Details
Year Built
1984
Buildings
1
Stories
4
Units
184
Tenancy
Multi
Listing Agency:
CBRE - Orange County
Listed By:
Mark Shaffer · License #CA 01253743
(818) 502-6700
Source:
Crexi
Added: May 18
Changed: Sep 5
Last Checked: Sep 3 at 7:58AM
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 CBRE - Orange County
Investment Insights
Based on property information with market context.
This for-sale office building is located at 425 West Broadway in Glendale, CA, totaling 72,611 square feet.
Glendale is described as a business-friendly city and the third largest in Los Angeles County, with lower cost-of-doing-business factors highlighted in the remarks, including lower property taxes, lower transient occupancy taxes, lower utility user taxes, and no parking tax or gross receipts tax. The asset is positioned for regional access through centralized freeway connectivity, with access to the I-5 (Golden State) Freeway, SR-2 (Glendale) Freeway, SR-134 (Ventura) Freeway, and the 210 (Foothill) Freeway.
Glendale is described as a business-friendly city and the third largest in Los Angeles County, with lower cost-of-doing-business factors highlighted in the remarks, including lower property taxes, lower transient occupancy taxes, lower utility user taxes, and no parking tax or gross receipts tax. The asset is positioned for regional access through centralized freeway connectivity, with access to the I-5 (Golden State) Freeway, SR-2 (Glendale) Freeway, SR-134 (Ventura) Freeway, and the 210 (Foothill) Freeway.
Key Highlights
- Office asset built in 1984
- Strategic freeway access near I‑5 (Golden State), SR‑2, SR‑134, and I‑210
- Located in Glendale, the third largest city in Los Angeles County
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
$1,428,712
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
7.96%
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%
$28,574,240
$28.6M
Cap Rate 7%
$20,410,171
$20.4M
Cap Rate 9%
$15,874,578
$15.9M
Market Conditions
NOI Build-Up for 72,611 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
$2.40M $33.00/SF
− Vacancy
−$491.2K −$6.77/SF
EGI
$1.90M $26.24/SF
− OpEx
−$476.2K −$6.56/SF
NOI
$1.43M $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%
$28,574,240
Cap Rate 7%
$20,410,171
Cap Rate 9%
$15,874,578
Alternative Uses
Best Use
Office B
$20.41M
$17.86M – $23.81M
NOI $1,428,712 @ 7.0% cap · market cap 7.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$43.67M
$38.21M – $50.95M
NOI $3,056,905 @ 7.0% cap · market cap 17.03%
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
6,782
Businesses Nearby
Explore this area
Business Placement
Demographics for 91204, CA
17,302
Population
7,095
Households
2.4
Avg Household Size
39
Median Age
36%
College-Educated
82%
High-School Grad
1.0 sq mi
ZIP Area
17,302
Density / Sq Mi
$72,906
Median Household Income
$41,556
Median Earnings
$1,924
Median Rent
$747,400
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 building - Office asset with access to major freeways including I-5, SR-2, SR-134, and I-210.
Where is this office building located?
The property is located at 425 West Broadway Glendale, CA.
What is the asking price?
The asking price for this property is $17,950,000.
What are key features of this property?
This property features: Office asset built in 1984; Strategic freeway access near I‑5 (Golden State), SR‑2, SR‑134, and I‑210; Located in Glendale, the third largest city in Los Angeles County
