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Property profile & analytics
OFF-MARKET
Estimated value
$4,935,000
Turn key restaurants
221 Central Ave Glendale, CA 91203
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-7420182
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1953
Construction
TILT-UP CONCRETE
Total area
7,450 SF
Lot
0.22 ac (9,703 SF)
Zoning code
GLC3*
APN
5637-008-001
UPID
US09-7420182
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
-
Personal Injury of CA Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.14M
Blend (final)
Blend
$4.94M
Owner & transaction history
Harvard Buildings LLC · 6 yrs held
Harvard Buildings LLC
since 2020
Last sale
$4.8M
5 recorded transactions
Zoning & alternative use
GLC3* · Glendale, 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 Glendale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Glendale 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
$5,060,000
ML approach
$5,080,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$4,925,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$4,535,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$4.94M
Range $4.44M – $5.43M · ±10% · vs last sale $4.80M (Jun 8 2020)
Last sale anchor
$4.80M
Jun 8 2020
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
$662 / 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
$33,106
Tax year 2024
Assessed value
$2,969,995
Assessed 2024
Previous assessed
$2,969,995
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$2,122,958
Assessed improvement
$847,037
Applied tax rate
4.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1953
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Buildings
2
Units
2
Total area
7,450 SF
Lot
0.22 ac (9,703 SF)
Zoning code
GLC3*
APN
5637-008-001
UPID
US09-7420182
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
GLC3* · Glendale, CA
Zoning GLC3* · permitted uses
GLC3* · Glendale, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Glendale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$4.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.5M
RESTAURANT Current
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
1953
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Buildings
2
Units
2
Lot
0.22 ac
Current owner
From public records · entity-resolved
Harvard Buildings LLC
Entity
Mailing address
18057 GRN MDW DR, ENCINO, CA 91316-4424
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 8, 2020
$4,800,000
Harvard Buildings LLC
Pahop LLC
Grant Deed
$2,000,000 · Rediger Investment Mortgage Fund
Jul 20, 2016
$4,500,000
Pahop LLC
Novak Trust
Grant Deed
—
Feb 19, 2014
—
Novak Survivors Trust
Novak Trust
Quit Claim Deed
related
—
Jan 14, 1998
—
Novak,howard A & Marilyn J Trust
Novak,m J
Quit Claim Deed
related
—
Nov 1, 1972
—
Novak,mack Trust
—
Grant Deed
related
—
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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