For Sale
$40,645,000

217 Lake StBurbank, CA 91502

Prime Burbank flex space, 64,413 SF, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Class A industrial property, located at 217-277 S Lake Street in Burbank, CA, presents a compelling sale-leaseback opportunity. The 64,413-square-foot facility, built in 1960 and extensively renovated in 2012, sits on a 3.08-acre lot and boasts a 16-foot ceiling height. Currently 100% occupied by a single tenant under a 10-year triple-net (NNN) lease with a 15% rent bump in year six, this property offers a stable, long-term income stream. The asking price is $40,645,000, representing a 6.00% cap rate and a price per square foot of $631.01. The property features seven units, ample parking (2.95 spaces per 1,000 sq ft), and is zoned BCCM. Its strategic location provides easy access to Interstates 5, 101, and 134, as well as the Burbank MetroLink. The building includes state-of-the-art features designed for post-production work, including multiple ATMOS stages, screening theaters, ADR, foley, color grading, and edit bays. The robust infrastructure includes a bullet-proof, 40GB fiber-based LAN network and 78 AC units totaling over 400 tons of cooling capacity. This sale-leaseback transaction offers a secure investment in a world-class facility within the heart of Burbank's media district. The property's seven units are valued at $5,806,428.57 each. The net operating income (NOI) is $2,438,676. APN numbers are 2451-016-021

Highlights

  • Excellent I-5, Hwy 101, and Hwy 134 access.
  • Short walk to Burbank MetroLink station.
  • Modern production/post-production facility in Burbank, a major media center.
  • Convenient access to Burbank, Hollywood, and greater Los Angeles.
  • Secure, high-speed (40GB) fiber optic network with on-site data storage.
  • HVAC system with 78 units totaling over 400 tons, offering zoned climate control.

Property Details for 217 Lake St

Property type
Industrial properties, Flex space
Square Feet
64,413 SF
Class
A
Year Built/Renovated
1960/2012
Stories
1
Lot Size (sq. ft)
134,165 SF
Units
7

Location Insight

City
Burbank
County
Los Angeles
State
California
Latitude
34.174855174641
Longitude
-118.31342087139
217 Lake St, Burbank, California

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217 Lake St
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