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    Property profile & analytics

    616 Victory Blvd Burbank, CA 91502-2423

    • Retail space
    • 8,020 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Jun 09, 2022
    $3,650,000
    Value Estimations
    $3,395,000
    Show details
    Cap Rate Potential
    6%
    Retail space
    Location Intelligence
    Property ID
    US10-0217091
    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

    • AVENIR-BURBANK / Pilates Studio

    Property Details for 616 Victory Blvd

    Year built
    1965
    Lot size
    0.34 lot acres
    Property size
    8,020 SF
    Zone code
    BUC4*
    Property type
    Retail space
    APN
    2451-027-041
    APU
    2451027041

    Description

    This exceptional Burbank retail opportunity, located at 616 S Victory Blvd, 91502, presents 3,150 square feet of vacant space within the newly renovated "The Vic" shopping center. The single-story, 8,020 square foot building, constructed in 1965 and extensively renovated in 2022, offers a unique blend of modern amenities and classic charm. The property boasts a highly desirable BUC4 zoning designation and sits on a 0.32-acre corner lot, benefiting from exceptional visibility and high traffic counts of 20,000 vehicles per day. The space is divisible to a minimum of 2,075 square feet and offers a maximum contiguous space of 3,150 square feet. The center features a total of five suites and ample parking with 20 spaces available. Its strategic location places it minutes from major national retailers and the top-ranked IKEA store in the United States. The updated amenities include newly painted walls, decorative elements, updated lighting, and signage, creating a fresh and inviting atmosphere for prospective tenants. This is an ideal location for businesses seeking high visibility and access to a thriving community in a rapidly growing area of Los Angeles. The property features clean architectural detailing and updated amenities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,365,000
      ML approach
      $3,345,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,380,000
      6.5%
      $3,120,000
      7%
      $2,895,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,292,000
      Market price range: $1.55M - $4.29M

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

    Location Insight

    • Map
    • Local Demand
    City
    Burbank
    County
    Los Angeles
    State
    California
    Longitude
    -118.311
    Latitude
    34.1694
    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
    $42,761
    $2,705,040
    $1,092,420
    $3,797,460
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $345,000
      7,097 SF

      548 San Fernando Blvd

      RETAIL STORES (PERSONAL SERVICES) • 7,097 SF
      548 San Fernando Blvd, Burbank, CA 91502-1440
      View Details
    • Value Estimation
      $445,000
      10,888 SF

      501 Glenoaks Blvd

      RETAIL STORES (PERSONAL SERVICES) • 10,888 SF
      501 Glenoaks Blvd, Burbank, CA 91502-1123
      View Details
    • Value Estimation
      $3,870,000
      7,948 SF

      500 Glenoaks Blvd

      RETAIL STORES (PERSONAL SERVICES) • 7,948 SF
      500 Glenoaks Blvd, Burbank, CA 91502-1421
      View Details
    • Value Estimation
      $1,910,000
      3,296 SF

      521 Victory Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,296 SF
      521 Victory Blvd, Burbank, CA 91502
      View Details
    • Value Estimation
      $665,000
      1,250 SF

      906 San Fernando Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,250 SF
      906 San Fernando Blvd, Burbank, CA 91502-1535
      View Details
    • Value Estimation
      $2,330,000
      4,400 SF

      409 Victory Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,400 SF
      409 Victory Blvd, Burbank, CA 91502-1735
      View Details

    Similar Nearby for Sale

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      Burbank Retail Storefront Investment

      Prime Burbank retail space, 9,500 sq ft.
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      Retail Storefronts with Mezzanine

      Retail storefronts available with bonus mezzanine in Burbank, CA.
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      Burbank Business Opportunity For Sale

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      Burbank Retail Space - Prime Location

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    Similar Nearby for Lease

    • $2 SF/Yr
      4,750 SF

      Retail Building with Ground Level Door

      Commercial/Retail building for lease with parking and ground-level access.
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      View Details
    • $13,000 /Mo
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      Prime Burbank Retail/Restaurant Space

      Located in a trendy restaurant corridor near major entertainment companies.
      212 N San Fernando Blvd, Burbank, CA 91502
      View Details
    • $3 SF/Yr
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      Retail Space for Lease

      Approximately 1,500 SF retail space available for lease.
      116-126 E Olive Ave, Burbank, CA 91502
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    • $4 SF/Yr
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      Retail Space with High Ceilings

      Retail space featuring a kitchen, restroom, and high ceilings.
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      View Details
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      1,740 SF

      Retail Space on San Fernando

      Retail space available for lease on San Fernando Boulevard.
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      View Details
    • $4 SF/Yr
      4,515 SF

      Restaurant, Bar, Retail Space Available

      Turnkey restaurant, bar, and retail opportunity in Burbank, CA.
      230-240 N San Fernando Blvd, Burbank, CA 91502
      View Details
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    616 Victory Blvd
    Burbank, CA 91502-2423
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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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