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Property profile & analytics
OFF-MARKET
Estimated value
$5,865,000
Retail space
2128 Glenoaks Blvd Burbank, CA 91504-2834
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-7684407
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2007
Construction
WOOD
Total area
6,257 SF
Lot
0.76 ac (33,213 SF)
Zoning code
BUC2-R4*
APN
2472-016-056
UPID
US09-7684407
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
-
Grtnak Restaurant
-
Aleppo Grill Restaurant
-
Nailtastic Nail Salon
-
Sophia Beauty Boutique Hair Salon Nail Salon
-
State Farm Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.91M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.40M
Blend (final)
Blend
$5.87M
Owner & transaction history
Karibyan Properties LLC · 2 yrs held
Karibyan Properties LLC
since 2023
Last sale
$5.8M
7 recorded transactions
Zoning & alternative use
BUC2-R4* · Burbank, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.9M
+47.7%
Restaurant
$4.1M
+22.1%
Neighborhood: shopping center
$3.8M
+14.1%
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
$5,905,000
ML approach
$5,905,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$4,930,000
Change: +48% · Conversion: Difficult
RESTAURANT
$4,075,000
Change: +22% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$3,810,000
Change: +14% · Conversion: Moderate
Blend value · Realmo final
$5.87M
Range $5.28M – $6.45M · ±10% · vs last sale $5.83M (Jul 26 2023)
Last sale anchor
$5.83M
Jul 26 2023
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
$937 / 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
$65,485
Tax year 2024
Assessed value
$5,830,000
Assessed 2024
Previous assessed
$5,830,000
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$4,300,000
Assessed improvement
$1,530,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2007
Construction
WOOD
Heating
NONE
Stories
1
Units
6
Total area
6,257 SF
Lot
0.76 ac (33,213 SF)
Zoning code
BUC2-R4*
APN
2472-016-056
UPID
US09-7684407
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
BUC2-R4* · Burbank, CA
Zoning BUC2-R4* · permitted uses
BUC2-R4* · 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.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$4.9M
RESTAURANT
Est. value
$4.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.8M
AUTO REPAIR, GARAGE
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Construction
WOOD
Heating
NONE
Stories
1
Units
6
Lot
0.76 ac
Current owner
From public records · entity-resolved
Karibyan Properties LLC
Entity
Mailing address
221 N 3RD ST #204, BURBANK, CA 91502-1202
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2023
$5,830,000
Karibyan Properties LLC
Levon Vardapetyan
Grant Deed
$3,000,000 · East West Bank
Apr 3, 2023
—
Levon Vardapetian
—
Deed
related
$3,347,400 · Konstantin Chilian Trust
Mar 30, 2022
$6,000,000
Levon Vardapetyan
Cendm LLC
Grant Deed
$4,500,000 · Mbsru INC
Mar 30, 2022
—
Levon Vardapetyan
Vardui Yepremyan
Intrafamily Transfer
related
—
Feb 6, 2018
—
Cendm LLC
—
Grant Deed
related
$23,000,000 · Community Bk
May 17, 2017
$4,529,000
Cendm LLC
Shelby Amal T Living Trust
Grant Deed
—
Dec 7, 2012
$3,525,000
Amal T Shelby
Kimias Properties INC
Grant Deed
$1,762,500 · Wells Fargo Bank NA
Jan 18, 2007
—
Kimias Properties INC
—
Trustees Deed
related
$2,750,000 · East West Bank
Aug 6, 2004
—
Kimias Properties INC
Conocophillips
Grant Deed
$682,500 · Vineyard Bank
Apr 18, 1997
—
Clover Trust
—
Deed Of Trust
related
$242,500,000 · Sanwa Bank California Trustee
Apr 4, 1997
—
Clover Trust
Union Oil Co Of Ca
Grant Deed
related
—
—
—
Kimias Properties INC
—
Deed Of Trust
related
$715,000 · Preferred Bank
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.
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