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    Property profile & analytics

    247 Lk St Burbank, CA 91502-2111

    • Office buildings
    • 8,930 SF
    • 2.65 lot acres
    OFF-MARKET
    Value Estimations
    $550,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-9916772
    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

    • Office buildings

    Property Details for 247 Lk St

    Year built
    1960
    Construction
    TILT-UP CONCRETE
    Lot size
    2.65 lot acres
    Property size
    8,930 SF
    Zone code
    BUM2*
    Property type
    Office buildings
    APN
    2451-016-024
    APU
    2451016024

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $550,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Burbank
    County
    Los Angeles
    State
    California
    Longitude
    -118.314
    Latitude
    34.1742
    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
    $33,241
    $1,655,180
    $1,267,520
    $2,922,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $305,000
      5,103 SF

      212 Providencia Ave, Unit B

      PROFESSIONAL BUILDING • 5,103 SF
      212 Providencia Ave, Burbank, CA 91502-1432
      View Details
    • Value Estimation
      $240,000
      513 SF

      207 Alameda Ave Ste, Unit 105

      OFFICE BUILDING • 513 SF
      207 Alameda Ave Ste, Burbank, CA 91502-3021
      View Details
    • Value Estimation
      $355,000
      2,528 SF

      304 Alameda Ave

      OFFICE BUILDING • 2,528 SF
      304 Alameda Ave, Burbank, CA 91502-1511
      View Details
    • Value Estimation
      $245,000
      516 SF

      217 Alameda Ave, Unit 201

      OFFICE BUILDING • 516 SF
      217 Alameda Ave, Burbank, CA 91502-1500
      View Details
    • Value Estimation
      $390,000
      6,903 SF

      353 Angeleno Ave

      OFFICE BUILDING • 6,903 SF
      353 Angeleno Ave, Burbank, CA 91502-1310
      View Details
    • Value Estimation
      $720,000
      27,378 SF

      811 San Fernando Blvd

      OFFICE BUILDING • 27,378 SF
      811 San Fernando Blvd, Burbank, CA 91502-1534
      View Details

    Similar Nearby for Sale

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      10 SF

      Burbank Office Building For Sale

      Approximately 10,160 SF office building available in Burbank, CA.
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      Burbank Premier Office Building

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      Two-Story Office Building For Sale

      Two-story office building with post-production history, approximately 33,577 SF.
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    • $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
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    • $4,199,000
      9,211 SF

      Burbank Creative Space with Upgrades

      Flex space in Burbank, ideal for creative or industrial uses.
      413 N Moss St, 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
    • $65 SF/Yr
      12,264 SF

      Burbank Office Space for Lease

      Prime Burbank location, flexible office solutions.
      303 Glenoaks Blvd, Burbank, CA 91502
      View Details
    • Contact for pricing
      24 SF

      Burbank Corner Location Office Space

      Office space on a prime corner with convenient access.
      208-224 E Olive Ave, Burbank, CA 91502
      View Details
    • $2 SF/Yr
      14,190 SF

      Creative Office Space Available

      Penthouse office suite with high ceilings and concrete floors.
      200 N San Fernando Blvd, Burbank, CA 91502
      View Details
    • $2.00 SF/Yr
      19,000 SF

      Creative Office Space Available

      Creative office suite with natural light in Burbank, CA.
      100-104 E Graham Pl, Burbank, CA 91502
      View Details
    • $3 SF/Yr
      66 SF

      Downtown Burbank Office Space Available

      Office space for rent in a prime Burbank location.
      101 S 1St St, Burbank, CA 91502
      View Details
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    247 Lk St
    Burbank, CA 91502-2111
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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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