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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7241 Lankershim Blvd Los Angeles, CA 91605

    • Office Properties & Spaces
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 7241 Lankershim Blvd

    Year built
    1954
    Property type
    Office Properties & Spaces
    Property subtype
    Office space

    Description

    This exceptional office property, located at 7241 Lankershim Boulevard in the North Hollywood submarket of Los Angeles, California, presents a unique opportunity. Built in 1954, this multi-tenant building offers traditional and creative office space, ideal for a variety of businesses. The property is conveniently situated in the East San Fernando Valley, providing easy access to major transportation arteries. It's minutes from the 170 and Interstate-5 freeway on/off ramps, and less than two miles from Bob Hope Burbank Airport, ensuring seamless commutes and convenient travel. The location also boasts proximity to numerous local restaurants, Starbucks, and shopping amenities, enhancing the overall convenience for tenants and employees. A significant advantage is the potential for ample truck parking. The property offers the possibility of accommodating four 53-foot trucks and/or six bobtail trucks. The zoning for the property requires verification by the tenant. The property's APN is 2317-019-032, and it's located in Los Angeles County, zip code 91605. The building does not have elevators. This property is an excellent choice for businesses seeking a well-located, functional office space with the added benefit of potential truck parking. Interested parties should conduct their own due diligence regarding zoning and parking capacity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.388
    Latitude
    34.2024

    Comparable in this City

    • Value Estimation by Request
      9,206 SF

      13228 Sherman Way

      Office space • 9,206 SF
      13228 Sherman Way, Los Angeles, CA 91605
      View Details
    • Value Estimation
      $465,000
      10,660 SF

      11742 Vose St

      RADIO OR TV STATION • 10,660 SF
      11742 Vose St, North Hollywood, CA 91605-5735
      View Details
    • Value Estimation
      $505,000
      4,951 SF

      8020 Laurel Cyn Blvd

      PROFESSIONAL BUILDING • 4,951 SF
      8020 Laurel Cyn Blvd, North Hollywood, CA 91605-1427
      View Details
    • Value Estimation
      $515,000
      11,269 SF

      6829 Lankershim Blvd

      OFFICE BUILDING • 11,269 SF
      6829 Lankershim Blvd, North Hollywood, CA 91605-6109
      View Details
    • Value Estimation
      $370,000
      2,024 SF

      12527 Vanowen St

      OFFICE BUILDING • 2,024 SF
      12527 Vanowen St, North Hollywood, CA 91605-5321
      View Details
    • Value Estimation
      $440,000
      10,398 SF

      13363 Saticoy St

      OFFICE BUILDING • 10,398 SF
      13363 Saticoy St, North Hollywood, CA 91605-3400
      View Details

    Similar Nearby for Sale

    • $1,150,000
      0.18 Acres

      North Hollywood Redevelopment Opportunity

      Redevelopment opportunity in North Hollywood near Burbank Airport.
      6833 Simpson Ave, North Hollywood, CA 91605
      View Details
    • $114,950

      2022 Fleetwood Home in North Hollywood

      Modern 2-bedroom home with resort-style amenities in North Hollywood.
      8250 Lankershim Blvd, North Hollywood, CA 91605
      View Details
    • $800,000

      Prime North Hollywood Retail Opportunity

      High-visibility retail property on Lankershim Boulevard, North Hollywood.
      8163 Lankershim Blvd, Los Angeles, CA 91605
      View Details
    • $8,768,550
      25,053 SF

      Renovated Manufacturing/Distribution Building For Sale

      Recently renovated manufacturing/distribution building with heavy power and new upgrades.
      13340 Raymer St, North Hollywood, CA 91605
      View Details
    • $1,650,000

      North Hollywood Multifamily Investment Opportunity

      Seven-unit multifamily property in North Hollywood with upgrade potential.
      6923 Ben Ave, North Hollywood, CA 91605
      View Details
    • Contact for pricing
      11,761 SF

      North Hollywood Healthcare Facility Opportunity

      New 9-bed healthcare facility in North Hollywood.
      North Hollywood, CA 91605
      View Details

    Similar Nearby for Lease

    • $34 SF/Yr
      9,206 SF

      Sherman Way Flex Space Portfolio

      Los Angeles Industrial/Office Space Available
      13228 Sherman Way, Los Angeles, CA 91605
      View Details
    • Contact for pricing

      Office Space with Reception Area

      Vacant office space featuring a reception and private office.
      7830 Lankershim Blvd, Los Angeles, CA 91605
      View Details
    • $2 SF/Yr
      2,742 SF

      Renovated Industrial Unit with Office

      2,742 SF industrial unit with office space for lease.
      12612 Raymer St, North Hollywood, CA 91605
      View Details
    • $0.41 SF/Yr
      2,660 SF

      North Hollywood Office Space Available

      Office spaces available in North Hollywood, ranging from 380-3,040 SF.
      13228 Sherman Way, North Hollywood, CA 91605
      View Details
    • Contact for pricing
      5,304 SF

      Prime Tujunga Ave. Office/Warehouse

      5,304 SF Office/Warehouse, Los Angeles
      6930 Tujunga Ave, Los Angeles, CA 91605
      View Details
    • Contact for pricing
      1,000 SF

      Vanowen Street Retail Space For Lease

      Prime Retail Space, High Traffic Area
      12051 Vanowen St, Los Angeles, CA 91605
      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.
    7241 Lankershim Blvd
    Los Angeles, CA 91605
    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.