1612 Olive AveBurbank, CA 91506

Property Details for 1612 Olive Ave

Year built

1984

Construction

WOOD

Lot size

0.39 AC

Property size (Sq ft)

22,316 SF

Zone code

BUC2YY

Property type

Office properties

Property subtype

Office buildings

APN

2445-016-023

APU

2445016023

Description

This exceptional executive office suite, located at 1612 W. Olive Avenue in Burbank, California, presents a unique opportunity for businesses seeking a prestigious address in the Burbank Media District. The property, a Class B building, boasts a total of 22,316 square feet spread across three stories. Currently, a single, contiguous suite of 2,450 square feet is available for lease, representing the entire vacant space within the building. The building features a total of two suites, offering a quiet and professional environment. The convenient location offers easy access to major thoroughfares, including the intersection of W. Olive Avenue, W. Verdugo Avenue, and Sparks Street, providing excellent connectivity to Hollywood, Glendale, and the broader San Fernando Valley. Parking is available at a ratio of 2 spaces per 1000 square feet. The property is situated in Los Angeles County, zip code 91506. This is an ideal space for businesses seeking a well-located, efficient, and professional office environment in the heart of Burbank's media district. The minimum divisible space is 2,450 square feet, making it perfect for a single tenant seeking a complete floor. The property is classified as an Executive Office and Professional space.

• CAP approach

  CAP return

  Valuation

  6%

  $7,273,478

  6.5%

  $6,713,980

  7%

  $6,234,410

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,243,610

  Geo Method

  $4,243,610

• Alternative Use

  Use

  Valuation

  Residential

  $8,325,336

  Hospitality

  $7,625,962

  Educational

  $6,344,711

  Medical

  $6,562,916

  Retail

  $9,869,551

Location Insight

City

Burbank

County

Los Angeles

State

California

Latitude

34.1674

Longitude

-118.322

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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