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    23575 Park S St Calabasas, CA 91302-2026
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    Property profile & analytics

    23575 Park S St, Calabasas, CA 91302-2026

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    • Medical Office Space
    • 70,875 SF
    • 0.52 lot acres
    Off-Market
    Property ID
    US09-8484362
    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.
    Value Estimations
    $11,885,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Medical Office Space

    Property Details for 23575 Park S St

    Year built
    1962
    Construction
    STEEL FRAME
    Lot size
    0.52 lot acres
    Zone code
    INC1*
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    4021-023-001
    APU
    4021023001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 30, 2025 — Hillcrest Ventures LLC — Deed · related $4.5M · Forbix Capital Corp
    Aug 6, 2021 — Hillcrest Ventures LLC — Deed · related $32M · Royal Business Bank
    Dec 29, 2020 — Hillcrest Ventures LLC — Deed · related $1.5M · Forbix Capital Corp
    May 4, 2020 — Hillcrest Ventures LLC — Deed · related $6.3M · Royal Business Bank
    Nov 20, 2019 $11,500,000 Hillcrest Ventures LLC Jeff Kern Grant Deed $4.5M · First General Bank
    Oct 31, 2018 — Jeff Kern — Deed · related $4.5M · Forbix Cap
    Jul 24, 2013 $1,304,000 Jeff Kern 809 Osage LLC Grant Deed $511k · 809 Osage LLC
    Apr 29, 2013 — Nay Holdings LLC Nosrati,elahe Grant Deed —
    Dec 14, 2005 — 809 Osage LLC 336 Hillcrest Corp Quit Claim Deed · related —
    Sep 29, 2005 — 336 Hillcrest Corp Cedicci,jerry J Quit Claim Deed · related $2.5M · Budget Finance Co
    Aug 31, 2004 $3,500,000 809 Osage LLC Inglewood Investment Grant Deed $2.1M · Namco Capital Group INC
    Aug 30, 1990 $1,650,000 Inglewood Inv Co New West Fed Sav Grant Deed $1M · Individual
    Aug 16, 1988 — Amer Hillcrest Medica Trustees Deed · related —
    — — Jeff Kern — Deed Of Trust · related $4.5M · Forbix Cap
    — — Jeff Kern — Deed Of Trust · related $300k · Jizi Cui
    — — Inglewood Investment Co — Deed Of Trust · related $1.4M · Golden Pacific Bank
    — — 809 Osage LLC — Deed Of Trust · related $2M · Peter J Koral
    — — 809 Osage LLC — Loan Modification · related $2.5M · Budget Funding I LLC

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Calabasas
    County
    Los Angeles
    State
    California
    Longitude
    -118.35
    Latitude
    33.96
    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
    $181,049
    $4,288,807
    $8,041,515
    $12,330,322
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      23951 Craftsman Rd

      MEDICAL BUILDING
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    • Value Estimation
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      42,954 SF

      25100 Calabasas Rd

      HOMES (RETIRED, NURSING)
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    • Value Estimation by Request
      107,395 SF

      24141 Ventura Blvd

      HOMES (RETIRED, NURSING)
      24141 Ventura Blvd, Calabasas, CA 91302-1449
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    • Value Estimation
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      14,414 SF

      26520 Agoura Rd

      OFFICE BUILDING
      26520 Agoura Rd, Calabasas, CA 91302-1921
      View Details
    • Value Estimation
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      12,600 SF

      5177 Douglas Fir Rd

      OFFICE BUILDING
      5177 Douglas Fir Rd, Calabasas, CA 91302-1440
      View Details
    • Value Estimation
      $5,800,000
      14,641 SF

      5146 Douglas Fir Rd

      OFFICE BUILDING
      5146 Douglas Fir Rd, Calabasas, CA 91302-1405
      View Details

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    Similar Nearby for Lease

    • 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
    • Contact for pricing

      Calabasas Office Spaces For Rent

      Office spaces for rent in Calabasas with amenities included.
      26565 W Agoura Rd, Calabasas, CA 91302
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    • Contact for pricing
      132 SF

      Compact Office Space in Calabasas

      Efficient 132 sq. ft. office space for lease.
      22231 Mulholland Hwy, Calabasas, CA 91302
      View Details
    • Contact for pricing

      Calabasas Office Space Available

      Office spaces available ranging from 3,999 to 35,994 SqFt.
      26025 Mureau Rd, Calabasas, CA 91302
      View Details
    • Contact for pricing

      Versatile Workspace Solutions Available

      Flexible office spaces, coworking, meeting rooms, and virtual office options.
      4500 Park Granada Blvd, Calabasas, CA 91302
      View Details
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    Calabasas, CA 91302-2026
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    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.

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