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Property profile & analytics
OFF-MARKET
Estimated value
$3,635,000
Parking lots & garages
2612 Hollywood Way Burbank, CA 91505-1020
Individually Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-8470673
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1941
Total area
4,286 SF
Lot
0.85 ac (36,911 SF)
Zoning code
BUC3-M2*
APN
2466-010-023
UPID
US09-8470673
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
VSP Parking Parking Lot & Garage
-
Detail Plus Car Wash
-
Midway Car Rental Burbank Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.22M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.84M
Blend (final)
Blend
$3.64M
Owner & transaction history
Derek R Sweet · 2 yrs held
Derek R Sweet
since 2023
Last sale
$4.5M
5 recorded transactions
Zoning & alternative use
BUC3-M2* · Burbank, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.4M
+52.9%
Neighborhood: shopping center
$2.6M
+18.1%
Retail stores
$2.4M
+6.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Burbank submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burbank submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,115,000
ML approach
$3,220,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$2,210,000
Current use
AUTO REPAIR, GARAGE
$3,375,000
Change: +53% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,610,000
Change: +18% · Conversion: Difficult
RETAIL STORES
$2,355,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$2,290,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$3.64M
Range $3.27M – $4.00M · ±10% · vs last sale $4.50M (Sep 25 2023)
Last sale anchor
$4.50M
Sep 25 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$848 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$32,245
Tax year 2024
Assessed value
$2,790,287
Assessed 2024
Previous assessed
$2,790,287
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,910,341
Assessed improvement
$879,946
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1941
Heating
NONE
Buildings
2
Stories
3
Total area
4,286 SF
Lot
0.85 ac (36,911 SF)
Zoning code
BUC3-M2*
APN
2466-010-023
UPID
US09-8470673
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
BUC3-M2* · Burbank, CAZoning BUC3-M2* · permitted uses
BUC3-M2* · Burbank, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$3.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.6M
RETAIL STORES
Est. value
$2.4M
OFFICE BUILDING
Est. value
$2.3M
PARKING LOT Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1941
Heating
NONE
Stories
3
Buildings
2
Lot
0.85 ac
Current owner
From public records · entity-resolved
Derek R Sweet
Individual
Free & Clear · 2 yrs held
Mailing address
24806 HORSESHOE LN, NEWHALL, CA 91321-1117
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 25, 2023
—
Derek R Sweet
Derek R Sweet
Intrafamily Transfer
related
—
Jul 31, 2014
$4,500,000
Derek R Sweet
Carter,douglas A & Joan
Grant Deed
$4,400,000 · Douglas A & Joan Carter
Jun 27, 2014
—
Douglas A Carter
Carter Living Trust
Quit Claim Deed
related
—
Jun 4, 1999
—
Carter,douglas A & Joan Co-trust
Carter,d A
Quit Claim Deed
related
—
Oct 24, 1994
—
Carter,douglas A Trustee
Carter,d A
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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