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    2517 Burbank Blvd Burbank, CA 91505-2302
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    Property profile & analytics

    2517 Burbank Blvd, Burbank, CA 91505-2302

    View on Map
    • Retail space
    • 3,542 SF
    • 0.15 lot acres
    Off-Market
    Property ID
    US09-7256183
    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
    $1,035,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Nordanyan Law / Law Firm

    Property Details for 2517 Burbank Blvd

    Year built
    1941
    Construction
    WOOD
    Lot size
    0.15 lot acres
    Zone code
    BUC3*
    Property type
    Retail space
    APN
    2438-009-030
    APU
    2438009030

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 2, 2017 — Nordan Real Estate LLC St Joseph Pharmacy INC Grant Deed $800k · First Citizens Bank & Trust Co
    Jul 23, 2014 $900,000 St Joseph Pharmacy INC Hovsepian,razmik & Nara Grant Deed $810k · Hana Small Busn Lndg
    Aug 24, 2005 $800,000 Razmick Hovsepian Olney Alma M Trust Grant Deed $659k · Beach Business Bank
    Dec 4, 2003 — Olney,tr Olney,alma M Quit Claim Deed · related —
    Feb 1, 1972 — — — Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,490,000
      6.5%
      $1,375,000
      7%
      $1,280,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,700,000
      MEDICAL BUILDING
      $1,610,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Burbank
    County
    Los Angeles
    State
    California
    Longitude
    -118.339
    Latitude
    34.1788
    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
    $12,144
    $754,100
    $306,350
    $1,060,450
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $6,980,000
      31,815 SF

      3221 Magnolia Blvd

      RETAIL STORES (PERSONAL SERVICES)
      3221 Magnolia Blvd, Burbank, CA 91505-2906
      View Details
    • Value Estimation by Request
      1,125 SF

      3506 Magnolia Blvd

      RETAIL STORES (PERSONAL SERVICES)
      3506 Magnolia Blvd, Burbank, CA 91505-2911
      View Details
    • Value Estimation
      $770,000
      875 SF

      2804 Burbank Blvd

      RETAIL STORES (PERSONAL SERVICES)
      2804 Burbank Blvd, Burbank, CA 91505-2307
      View Details
    • Value Estimation
      $3,180,000
      5,000 SF

      2515 Magnolia Blvd

      RETAIL STORES (PERSONAL SERVICES)
      2515 Magnolia Blvd, Burbank, CA 91505-3030
      View Details
    • Value Estimation
      $700,000
      1,900 SF

      2501 Magnolia Blvd

      RETAIL STORES (PERSONAL SERVICES)
      2501 Magnolia Blvd, Burbank, CA 91505-3030
      View Details
    • Value Estimation
      $940,000
      2,700 SF

      3011 Magnolia Blvd

      RETAIL STORES (PERSONAL SERVICES)
      3011 Magnolia Blvd, Burbank, CA 91505-3044
      View Details

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      Burbank Grocery Anchored Shopping Center

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    Similar Nearby for Lease

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      7,625 SF

      Retail/Restaurant Space For Lease

      Multi-tenant retail/restaurant space with prominent signage and visibility.
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    • New
      $4,750 /Mo
      2,000 SF

      Storefront Retail/Office Suite

      Flexible storefront space with large windows, private parking, 12-foot ceilings, and built-in amenities including kitchenette and private bathrooms.
      3317 W Burbank Blvd, Burbank, CA 91505
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      Retail Space for Lease

      Retail space available for lease in Burbank, California.
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      Retail Space for Lease

      Retail property available for lease in Burbank, California.
      3601 West Olive Ave, Burbank, CA 91505
      View Details
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      7,541 SF

      Creative Building in Burbank Media District

      Creative office space with abundant natural light and private patio.
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      View Details
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      22,805 SF

      Burbank Warehouse with Deluxe Office

      State-of-the-art warehouse with office space near Burbank Airport.
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      View Details
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    Burbank, CA 91505-2302
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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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