Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    23500 Park Sorrento Calabasas, CA 91302

    • Land
    • 1.11 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Peter Mahar Photography / Wedding Photographer
    • Cellar Door Fine Wines / Wine Store
    • Abacus Wealth Partners / Financial Planner
    • BE KIND STUDIOS CALABASAS / Pilates Studio / Fitness Center
    • be kind studios / Pilates Studio / Fitness Center

    Property Details for 23500 Park Sorrento

    Lot size
    1.11 lot acres
    Property type
    Land

    Description

    This exceptional 1.11-acre parcel in Calabasas, California (Los Angeles County, zip code 91302), presents a rare development opportunity. Located at 23500 Park Sorrento, this property is zoned CMU (Commercial Mixed Use), offering significant flexibility for future projects. The land is situated adjacent to Avanti Calabasas, a high-end mixed-use condominium development completed in 2017, with resales currently starting at approximately $1.9 million, indicating strong market demand in the immediate vicinity. Its proximity to the Calabasas Tennis & Swim Center, a well-regarded community facility, further enhances its desirability. This is an "as-is" sale, and the seller will not provide time for the buyer to secure entitlements or building permits. The buyer is responsible for conducting their own due diligence to verify General Plan Land Use, Zoning Designation, and Development Standards. The asking price is $399,999. This represents an attractive basis in a supply-constrained market and offers a by-right land use in a highly desirable infill location. The APN is 2068-005-028.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Calabasas
    County
    Los Angeles
    State
    California
    Longitude
    -118.64
    Latitude
    34.1541

    Comparable in this City

    • Value Estimation by Request
      13.20 Acres

      24201 Mulholland Hwy

      Land • 13.20 Acres
      24201 Mulholland Hwy, Calabasas, CA 91302
      View Details
    • Value Estimation by Request

      24224 Dry Canyon Cold Creek Rd

      Land
      24224 Dry Canyon Cold Creek Rd, Calabasas, CA 91302
      View Details
    • Value Estimation
      $915,000
      83,177 SF

      5758 Las Virgenes Rd

      APARTMENT HOUSE (5+ UNITS) • 83,177 SF
      5758 Las Virgenes Rd, Calabasas, CA 91302-2634
      View Details
    • Value Estimation
      $295,000
      5,564 SF

      23777 Mulholland Hwy

      MOBILE HOME PARK, TRAILER PARK • 5,564 SF
      23777 Mulholland Hwy, Calabasas, CA 91302-2716
      View Details
    • Value Estimation
      $565,000
      53,961 SF

      4803 El Canon Ave

      APARTMENT HOUSE (5+ UNITS) • 53,961 SF
      4803 El Canon Ave, Calabasas, CA 91302-1349
      View Details
    • Value Estimation
      $390,000
      11,667 SF

      1666 Las Virgenes Cyn Rd

      CAMPGROUND, RV PARK • 11,667 SF
      1666 Las Virgenes Cyn Rd, Calabasas, CA 91302-1920
      View Details

    Similar Nearby for Sale

    • $990,000
      13.20 Acres

      Calabasas Estate Land: 13.2 Acres

      Prime Calabasas acreage, build your dream.
      24201 Mulholland Hwy, Calabasas, CA 91302
      View Details
    • $1,799,999

      Stokes Canyon Land For Sale

      Land available on Stokes Canyon Road in Calabasas, California.
      Stokes Canyon Rd, Calabasas, CA 91302
      View Details
    • $3,495,000

      Land for Sale

      Land available for purchase.
      24600 Thousand Peaks Rd, Calabasas, CA 91302
      View Details
    • $6,295,000

      Large Lot with Approved Plans

      1.36 acre lot with approved plans for large home.
      5255 Round Meadow Rd, Calabasas, CA 91302
      View Details
    • $750,000

      Land For Sale

      Land available for purchase.
      2140 Stunt Rd, Calabasas, CA 91302
      View Details
    • $1,895,000

      Calabasas Land Opportunity

      Land available in Calabasas, California.
      24030 Alder Pl, Calabasas, CA 91302
      View Details

    Similar Nearby for Lease

    • $0.09 SF/Yr
      87,120 SF

      Calabasas Land for Lease

      Approximately 2 acres of land available for short term lease.
      5022-5038 Parkway Calabasas, Calabasas, CA 91302
      View Details
    • $22 SF/Yr
      17,290 SF

      Calabasas Office Space Available

      Modern Office Suites, Flexible Options
      4500 Park Granada Blvd, Calabasas, CA 91302
      View Details
    • $28 SF/Yr
      45,998 SF

      Calabasas Office Space Available

      Prime Calabasas Flex Space, 3,999-35,994 SF
      26025 Mureau Rd, Calabasas, CA 91302
      View Details
    • $11,000 /Mo
      1,200 SF

      Freestanding Building on Ventura Blvd

      Freestanding retail building with US 101 exposure for lease.
      24000 Ventura Blvd, Calabasas, CA 91302
      View Details
    • Contact for pricing
      132 SF

      Compact Office Space in Calabasas

      Efficient 132 sq. ft. office space for lease.
      22231 Mulholland Hwy, Calabasas, CA 91302
      View Details
    • $35 SF/Yr
      8,567 SF

      Calabasas Office Space for Lease

      Prime Calabasas office, 1755 sq ft available.
      24011 Ventura Blvd, Calabasas, CA 91302
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23500 Park Sorrento
    Calabasas, CA 91302
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.