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    Property profile & analytics

    241 W Olive Ave Burbank, CA 91502

    • Office buildings
    • 5,312 SF
    • 0.13 lot acres
    For Lease
    View listing
    Value Estimations
    $340,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-0209604
    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

    • The IUD & OB/GYN Medical Clinic / Medical Clinic
    • Victory Olive Medical Group / Doctor
    • Victory Olive Med Group: Desai Nilesh H MD / Geriatrician
    • Oliver T. Wang, DPM / Podiatrist
    • Franklin Kase, DPM / Podiatrist

    Property Details for 241 W Olive Ave

    Year built
    1969
    Construction
    WOOD
    Lot size
    0.13 lot acres
    Property size
    5,312 SF
    Zone code
    BUC3*
    Property type
    Office buildings
    APN
    2451-014-025
    APU
    2451014025

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Burbank
    County
    Los Angeles
    State
    California
    Longitude
    -118.316
    Latitude
    34.1744
    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
    $9,574
    $169,251
    $649,203
    $818,454
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $715,000
      45,080 SF

      100 Tujunga Ave

      OFFICE BUILDING (MULTI-STORY) • 45,080 SF
      100 Tujunga Ave, Burbank, CA 91502-1953
      View Details
    • Value Estimation
      $1,000,000
      36,606 SF

      150 Olive Ave

      OFFICE BUILDING • 36,606 SF
      150 Olive Ave, Burbank, CA 91502-1846
      View Details
    • Value Estimation
      $455,000
      4,650 SF

      201 1st St

      PROFESSIONAL BUILDING • 4,650 SF
      201 1st St, Burbank, CA 91502-1803
      View Details
    • Value Estimation
      $700,000
      9,510 SF

      227 Lk St

      OFFICE BUILDING • 9,510 SF
      227 Lk St, Burbank, CA 91502-2111
      View Details
    • Value Estimation by Request
      0.22 Acres

      123 Burbank Blvd

      PROFESSIONAL BUILDING • 0.22 Acres
      123 Burbank Blvd, Burbank, CA 91502
      View Details
    • Value Estimation
      $590,000
      88,993 SF

      115 1st St

      OFFICE BUILDING (MULTI-STORY) • 88,993 SF
      115 1st St, Burbank, CA 91502-1856
      View Details

    Similar Nearby for Sale

    • $10,995,000
      33,577 SF

      Two-Story Office Building For Sale

      Two-story office building with post-production history, approximately 33,577 SF.
      1111 S Victory Blvd, Burbank, CA 91502
      View Details
    • $3,995,000
      10 SF

      Burbank Office Building For Sale

      Approximately 10,160 SF office building available in Burbank, CA.
      824 N Victory Blvd, Burbank, CA 91502
      View Details
    • Contact for pricing
      76,347 SF

      Burbank Premier Office Building

      Four-story office building in Downtown Burbank with modern amenities.
      250 E Olive Blvd, Burbank, CA 91502
      View Details
    • $4,975,000
      10,160 SF

      Burbank Executive Office Building

      10,160 SF Multi-Tenant Office, $4.975M
      824 Victory Blvd, Burbank, CA 91502
      View Details
    • Contact for pricing
      5,354 SF

      Burbank Office Space For Lease

      Prime Burbank location, 5,354 sq ft office space.
      200 Blvd, Burbank, CA 91502
      View Details
    • $3,495,000
      8,188 SF

      Burbank Creative Office/Flex Space

      Creative office/flex space available for sale in Los Angeles.
      120 W Cypress Ave, Burbank, CA 91502
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Leased Office Building in Burbank

      Fully leased office building in Burbank, CA. No current availability.
      209 E Alameda Ave, Burbank, CA 91502
      View Details
    • $82 SF/Yr
      479 SF

      Burbank Executive Office Suites

      Modern Burbank Offices, 2 Spaces Available
      211 Victory Blvd, Burbank, CA 91502
      View Details
    • $36 SF/Yr
      950 SF

      Burbank Executive Office Suite

      950 SF Executive Office for Lease
      126 Olive Ave, Burbank, CA 91502
      View Details
    • Contact for pricing
      10 SF

      Office Space Available For Lease

      10,160 SF of office spaces for lease.
      824 N Victory Blvd, Burbank, CA 91502
      View Details
    • $2 SF/Yr
      615 SF

      Burbank Office Space For Rent

      First floor office space available for rent in Burbank.
      150 E Olive Ave, Burbank, CA 91502
      View Details
    • $3 SF/Yr
      65,000 SF

      East Valley Office Space Available

      East Valley office spaces available for lease.
      100 N 1St St, Burbank, CA 91502
      View Details
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    241 W Olive Ave
    Burbank, CA 91502
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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.

    More about this property
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