2520 Olive AveBurbank, CA 91505

Property Details for 2520 Olive Ave

Year built

1964

Construction

TILT-UP CONCRETE

Lot size

1.01 AC

Property size (Sq ft)

27,068 SF

Zone code

BUC3*

Property type

Office properties

Property subtype

Office buildings

APN

2484-019-001

APU

2484019001

Description

This exceptional Burbank commercial property, located at 2520 W Olive Avenue, offers approximately 4,744 rentable square feet of space. Situated in a thriving area of Los Angeles County, this ground-floor commercial space enjoys an unbeatable location with ample parking, providing convenience for employees and clients alike. Its proximity to major movie studios makes it particularly attractive for entertainment-related businesses, while its close proximity to major freeways and prominent medical facilities broadens its appeal to a diverse range of potential tenants. The area also boasts a variety of restaurants, catering to the needs of businesses and their employees. Previously occupied by a credit union for fifteen years, the property currently features a layout suitable for financial institutions, although its versatile design allows for easy adaptation to suit various business needs. The space is currently divided into two units, but the owner is open to adjusting the configuration to meet specific tenant requirements. This presents a rare opportunity to lease a premium commercial space in a highly sought-after Burbank location. The property is zoned for commercial use and is available for lease. The asking price is to be determined. Interested parties should inquire for further details.

• CAP approach

  CAP return

  Valuation

  6%

  $8,822,303

  6.5%

  $8,143,664

  7%

  $7,561,974

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,147,251

  Geo Method

  $5,147,251

• Alternative Use

  Use

  Valuation

  Residential

  $10,098,144

  Hospitality

  $9,249,845

  Educational

  $7,695,763

  Medical

  $7,960,432

  Retail

  $11,971,187

Location Insight

City

Burbank

County

Los Angeles

State

California

Latitude

34.1604

Longitude

-118.33

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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