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Property profile & analytics
OFF-MARKET
Estimated value
$2,400,000
Retail space
228 Glenoaks Blvd Burbank, CA 91502-1205
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US10-0037121
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1929
Construction
TILT-UP CONCRETE
Total area
5,022 SF
Lot
0.36 ac (15,688 SF)
Zoning code
BUR4*
APN
2455-028-051
UPID
US10-0037121
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
-
Aria Meat Market Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.40M
CAP Approach
CAP
$1.96M
Comparable Approach
Comparable
$2.13M
Blend (final)
Blend
$2.40M
Owner & transaction history
Alex Megeredichian · 1 yrs held
Alex Megeredichian
since 2024
Last sale
$2.4M
7 recorded transactions
Zoning & alternative use
BUR4* · Burbank, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.0M
+80.7%
Restaurant
$3.3M
+49.4%
Neighborhood: shopping center
$3.1M
+39.6%
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
$2,400,000
ML approach
$2,400,000
CAP Approach
CAP Return
Estimation
6%
$2,115,000
6.5%
$1,955,000
7%
$1,815,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,190,000
Current use
AUTO REPAIR, GARAGE
$3,955,000
Change: +81% · Conversion: Difficult
RESTAURANT
$3,270,000
Change: +49% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$3,055,000
Change: +40% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,490,000
Change: +14% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,410,000
Change: +10% · Conversion: Easy
MEDICAL BUILDING
$2,285,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$2.40M
Range $2.16M – $2.64M · ±10% · vs last sale $2.40M (Oct 4 2024)
Last sale anchor
$2.40M
Oct 4 2024
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
$478 / 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
$15,980
Tax year 2024
Assessed value
$1,379,801
Assessed 2024
Previous assessed
$1,379,801
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,117,244
Assessed improvement
$262,557
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
1929
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Units
6
Total area
5,022 SF
Lot
0.36 ac (15,688 SF)
Zoning code
BUR4*
APN
2455-028-051
UPID
US10-0037121
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
BUR4* · Burbank, CA
Zoning BUR4* · permitted uses
BUR4* · 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
RETAIL STORES Current
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$4.0M
RESTAURANT
Est. value
$3.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.1M
WAREHOUSE, STORAGE
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.3M
RETAIL STORES Current
AUTO REPAIR, GARAGE
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1929
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Units
6
Lot
0.36 ac
Current owner
From public records · entity-resolved
Alex Megeredichian
Individual
Free & Clear · 1 yrs held
Mailing address
4910 S VINETA AVE STE #200, LA CANADA FLINTRIDGE, CA 91011-2623
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 4, 2024
$2,400,000
Alex Megeredichian
John M Gerro
Grant Deed
—
Jun 4, 2024
—
John M Gerro
Sebastiano Sterpa
Affidavit Death Of Trustee/successor Trustee
—
Jun 5, 2023
—
James Cashion
Carole S Sterpa
Affidavit Death Of Trustee/successor Trustee
—
Feb 15, 2019
$2,675,000
Sterpa,sebastiano & Carole Trust
Reese J & L 1995 Trust
Grant Deed
—
Nov 12, 2008
—
Sterpa Sebastiano & C Trust
Sterpa Sebastiano
Quit Claim Deed
related
—
Jul 12, 2002
—
Holley Trust
Holley,patricia L
Quit Claim Deed
related
—
Sep 10, 2001
—
Terry C Sterpa
Sterpa,t C Tr
Quit Claim 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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