115 1St StBurbank, CA 91502

Property Details for 115 1St St

Year built

1990

Construction

TILT-UP CONCRETE

Lot size

1.10 AC

Property size (Sq ft)

88,993 SF

Zone code

BUM2*

Property type

Office properties

Property subtype

Office buildings

APN

2453-011-037

APU

2453011037

Description

This exceptional Class A medical office building, located at 115 N 1st St, Burbank, CA 91502 (cross streets: Orange Grove Ave), presents a unique investment opportunity. The single-tenant, 86,000 square foot building, constructed in 1990, boasts three stories and offers a prime location in Downtown Burbank. Enjoy excellent freeway visibility and proximity to numerous restaurants and shops, all within walking distance. The property features a desirable mix of private offices and open floor plans, perfect for a variety of medical practices. Ample parking is provided with 366 spaces, a generous ratio of 3 spaces per 1,000 square feet, offered free of charge. The parking is gated and subterranean, ensuring security and convenience. Additional parking is available both within the building and in adjacent city lots. The building also includes private patios and outdoor areas, enhancing the overall appeal and functionality of the space. The property's APN is 2453-011-037, and it's situated in Los Angeles County. This is an ideal headquarters opportunity in a thriving submarket. Elevators are available for convenient access to all three floors.

• CAP approach

  CAP return

  Valuation

  6%

  $29,005,586

  6.5%

  $26,774,388

  7%

  $24,861,932

• Comparable approach

  Method

  Valuation

  Relative Method

  $16,922,908

  Geo Method

  $16,922,908

• Alternative Use

  Use

  Valuation

  Residential

  $33,200,240

  Hospitality

  $30,411,242

  Educational

  $25,301,796

  Medical

  $26,171,964

  Retail

  $39,358,348

Location Insight

City

Burbank

County

Los Angeles

State

California

Latitude

34.1798

Longitude

-118.311

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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