Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    23480 Park Sorrento Calabasas, CA 91302-1302

    • Office buildings
    • 15,360 SF
    • 1.32 lot acres
    OFF-MARKET
    Last Sale
    Oct 01, 2021
    $6,950,069
    Value Estimations
    $7,075,000
    Show details
    Cap Rate Potential
    5%
    Office buildings
    Location Intelligence
    Property ID
    US09-8611166
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Studio Referral Services Inc / Recording Studio
    • Campbell Greenup Law Group / Law Firm
    • Roy Lia / Marriage Or Relationship Counselor / Counselor
    • Auto Transport Junction / Shipping Company / Freight Service
    • Mediation Center of Calabasas / Mediation Service

    Property Details for 23480 Park Sorrento

    Year built
    1973
    Lot size
    1.32 lot acres
    Property size
    15,360 SF
    Zone code
    CSCO*
    Property type
    Office buildings
    APN
    2068-005-012
    APU
    2068005012

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,180,000
      ML approach
      $7,230,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,970,000
      6.5%
      $5,510,000
      7%
      $5,115,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $5,527,000
      Market price range: $351k - $5.68M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Calabasas
    County
    Los Angeles
    State
    California
    Longitude
    -118.64
    Latitude
    34.1555
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $83,894
    $5,659,776
    $1,560,600
    $7,220,376
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $11,995,000
      84,488 SF

      23622 Calabasas Rd

      OFFICE BUILDING (MULTI-STORY) • 84,488 SF
      23622 Calabasas Rd, Calabasas, CA 91302-1549
      View Details
    • Value Estimation
      $7,845,000
      37,018 SF

      23642 Calabasas Rd

      OFFICE BUILDING • 37,018 SF
      23642 Calabasas Rd, Calabasas, CA 91302-1501
      View Details
    • Value Estimation
      $10,120,000
      51,660 SF

      Calabasas, CA 91302

      OFFICE BUILDING (MULTI-STORY) • 51,660 SF
      Calabasas, CA 91302
      View Details
    • Value Estimation
      $33,440,000
      91,800 SF

      26701 Agoura Rd

      OFFICE BUILDING (MULTI-STORY) • 91,800 SF
      26701 Agoura Rd, Calabasas, CA 91302-1960
      View Details
    • Value Estimation by Request
      1,270 SF

      23501 Park Sorrento Ste, Unit 104

      OFFICE BUILDING • 1,270 SF
      23501 Park Sorrento Ste, Calabasas, CA 91302-1372
      View Details
    • Value Estimation
      $6,225,000
      30,444 SF

      26540 Agoura Rd

      OFFICE BUILDING • 30,444 SF
      26540 Agoura Rd, Calabasas, CA 91302-1914
      View Details

    Similar Nearby for Sale

    • $7,900,000
      4,776 SF

      Calabasas Office Property for Sale

      Office property for sale in Calabasas, approximately 4,776 SF.
      26885 Mulholland Hwy, Calabasas, CA 91302
      View Details
    • $6,500,000
      9,264 SF

      Commercial Building with Olive Orchard

      9,264 SF commercial building featuring an operating olive orchard.
      25000 Mureau Rd, Calabasas, CA 91302
      View Details
    • $12,999,000
      4,189 SF

      Calabasas Office Space For Sale

      Creative office space with easy freeway access in Calabasas.
      26050 Mureau Rd, Calabasas, CA 91302
      View Details
    • $1,995,000

      Calabasas Ranch with Restoration Potential

      Gated ranch featuring two dwellings, workshop, and restoration opportunity.
      2470 Stokes Canyon Rd, Calabasas, CA 91302
      View Details
    • $1,799,999

      Stokes Canyon Land For Sale

      Land available on Stokes Canyon Road in Calabasas, California.
      Stokes Canyon Rd, Calabasas, CA 91302
      View Details
    • $875,000
      1,726 SF

      Remodeled Calabasas Townhome with Upgrades

      Modern 3-bedroom townhome with upgraded kitchen, bathrooms, and community amenities.
      5602 Las Virgenes Rd, Calabasas, CA 91302
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,091 SF

      Malibu Canyon Plaza: Calabasas Office Space

      Calabasas creative office space for lease. Multiple units available.
      26500 Agoura Rd, Calabasas, CA 91302
      View Details
    • $35 SF/Yr
      8,567 SF

      Calabasas Office Space for Lease

      Prime Calabasas office, 1755 sq ft available.
      24011 Ventura Blvd, Calabasas, CA 91302
      View Details
    • Contact for pricing
      1,303 SF

      Calabasas Office Space Available

      Office space with reception area, medical use possible.
      4766 Park Granada, Calabasas, CA 91302
      View Details
    • $2 SF/Yr
      15,520 SF

      Class A Office Space

      Calabasas office space with freeway visibility and local management.
      26901 Agoura Rd, Calabasas, CA 91302
      View Details
    • $2 SF/Yr
      17,270 SF

      Calabasas Executive Office Suites

      Prime Calabasas Office Space Available
      23586 Calabasas Rd, Calabasas, CA 91302
      View Details
    • Contact for pricing
      18,362 SF

      Unique Calabasas Office Space

      Sublease opportunity in Calabasas, Los Angeles.
      23621 Park Sorrento, Calabasas, CA 91302
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23480 Park Sorrento
    Calabasas, CA 91302-1302
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.