Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$17,460,000
Office buildings
115 1st St Burbank, CA 91502-1856
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6263696
Property summary
AI-generated overview
This exceptional Class A medical office building, located at 115 N 1st St, Burbank, CA 91502 (cross streets: Orange Grove Ave), presents a unique investment opportunity. The single-tenant, 86,000 square foot building, constructed in 1990, boasts three stories and offers a prime location in Downtown Burbank. Enjoy excellent freeway visibility and proximity to numerous restaurants and shops, all within walking distance. The property features a desirable mix of private offices and open floor plans, perfect for a variety of medical practices. Ample parking is provided with 366 spaces, a generous ratio of 3 spaces per 1,000 square feet, offered free of charge. The parking is gated and subterranean, ensuring security and convenience. Additional parking is available both within the building and in adjacent city lots. The building also includes private patios and outdoor areas, enhancing the overall appeal and functionality of the space. The property's APN is 2453-011-037, and it's situated in Los Angeles County. This is an ideal headquarters opportunity in a thriving submarket. Elevators are available for convenient access to all three floors.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1990
Construction
TILT-UP CONCRETE
Total area
88,993 SF
Lot
1.1 ac (47,715 SF)
Zoning code
BUM2*
APN
2453-011-037
UPID
US09-6263696
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Harper & Associates Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$20.52M
Blend (final)
Blend
$17.46M
Owner & transaction history
Del Rey Properties LLC · 4 yrs held
Del Rey Properties LLC
since 2022
2 recorded transactions
Zoning & alternative use
BUM2* · Burbank, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Burbank submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burbank submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$17.46M
Range $15.71M – $19.21M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$196 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$257,390
Tax year 2024
Assessed value
$21,877,438
Assessed 2024
Previous assessed
$21,877,438
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$4,996,390
Assessed improvement
$16,881,048
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1990
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
3
Total area
88,993 SF
Lot
1.1 ac (47,715 SF)
Zoning code
BUM2*
APN
2453-011-037
UPID
US09-6263696
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
BUM2* · Burbank, CA
Zoning BUM2* · permitted uses
BUM2* · Burbank, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Burbank. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1990
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
3
Lot
1.1 ac
Current owner
From public records · entity-resolved
Del Rey Properties LLC
Entity
Mailing address
480 W RIVERSIDE DR, BURBANK, CA 91506-3209
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2022
—
Del Rey Properties LLC
—
Deed
related
$15,000,000 · Genworth Life Insurance Company
—
—
Del Rey Properties LLC
—
Deed Of Trust
related
$7,000,000 · Aviva Life & Annuity Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 115 1st St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
