601-607 S Glenoaks Blvd - Office FOR SALE


Burbank, CA 91502
$19,500,000 USD
818-933-0305
601-607 S Glenoaks Blvd, Burbank, CA for Sale
$19,500,000 USD
Office - FOR SALE
1/13
null | 7.5% Cap Rate

601-607 S Glenoaks Blvd
Burbank, CA 91502


HIGHLIGHTS

  • Multi-Tenant Building will local and national tenants
  • Local community based building and tenants
  • Renovated hallways
  • Stabilized with Value Add Opportunity

OVERVIEW

Lee & Associates, as the exclusive advisor and broker, is representing the Owner in the sale of a prime commercial office property in the downtown section of Burbank, CA. 601 - 607 South Glenoaks Blvd. presents an excellent opportunity for buyers seeking to invest in a core asset in one of Los Angeles’ historically robust submarkets. This multi-tenant office investment property is currently 85% leased, boasting a combination of recent new leases and lease renewals that contribute to its overall stability. 601 South Glenoaks Blvd demonstrates stable fundamentals with a diverse tenant roster, which mitigates reliance on any single industry. Compared to other properties in the Burbank submarket and the broader Los Angeles area, this property exhibits a strong historical and current occupancy. Moreover, as current rates are below market value there is room for value-add investment by increasing rental rates at upcoming lease expirations. The property is offered on a fee simple basis, free and clear of any existing debt, and on an as-is, where-is basis.

FOR SALE DETAILS

PRICE

$19,500,000 USD

PRICE/SF

$262 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

601 South Glenoaks Bldg

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

250

LAND DETAILS

LAND ACRES

1.17 AC

LAND SF

50,816 SF

ZONING

BUC3*

APN/PARCEL ID

2453-030-023

ASK ABOUT THIS PROPERTY

Scott RomickLee & Associates Commercial Real Estate ServiceMore Info
818-933-0305

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Scott RomickLee & Associates Commercial Real Estate ServiceMore Info
818-933-0305

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.