500 E Olive Ave Burbank, CA 91501
Property profile & analytics
500 E Olive Ave, Burbank, CA 91501
- Medical Office Space
- 49,721 SF
- 0.87 lot acres
Property ID
US09-8470681
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.
Location Intelligence
Current Use by Public Records
- Kaufman Mark D DDS / Dental Office
- Dr. Behzad Shirazi-Ardestani, DDS / Dental Office
- Lubick Harold a DDS / Dental Office
- SEDATION DENTISTRY LOS ANGELES / Dental Office
- Hesd Air Conditioning Burbank / Hardware & Home Improvement / HVAC Service
Property Details for 500 E Olive Ave
- Year built
- 1971
- Lot size
- 0.87 lot acres
- Zone code
- BUR5-R4*
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 2455-022-031
- APU
- 2455022031
Description
This exceptional 8-story, Class A medical office building in Downtown Burbank, CA offers a rare investment opportunity. Boasting 47,708 square feet of net rentable space, the property is currently 90% occupied by a diverse mix of 33 tenants, with an average tenant size of approximately 1,500 square feet. No single tenant occupies more than 6% of the building, ensuring stable cash flow and minimizing risk. The building features a weighted average lease term of approximately 15 years, demonstrating high tenant retention. A significant portion (45%) of the building is occupied by dental tenants, many of whom have been long-term occupants, some since the building's construction in 1971. This contributes to the exceptionally stable cash flow and low re-tenanting costs. The property sits on a 1.55-acre lot and enjoys a prime location with excellent freeway access (I-5) and proximity to major medical centers, including Providence Saint Joseph Medical Center (2.4 miles), Adventist Health Glendale Hospital (7.0 miles), and Providence Holy Cross Medical Center (12.2 miles). The building benefits from a Walkscore of 91, placing it within a vibrant, walkable downtown area with abundant retail amenities. The strong Burbank medical market, with low vacancy rates, further enhances the investment potential. This Core+ investment opportunity is priced at $16,500,000, representing a price per square foot of $345.85 and a current NOI of $114,591. The property's strong historical occupancy (never below 90% in the last 10 years), diverse tenancy, and prime location make it an attractive investment with significant upside potential. This is a first-time offering in 25 years.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $4,627,000
Market price range: $2.29M - $14.8M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Burbank
- County
- Los Angeles
- State
- California
- Longitude
- -118.304
- Latitude
- 34.1845
- 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
$94,591
$3,136,941
$5,076,435
$8,213,376
-
$0.00
$0.00
$0.00
