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1420 W Olive Ave 13,600 SF Office Building Burbank, CA 91506 $9,500,000 ($698.53/SF) 5.64% Cap Rate
Executive Summary
Avison Young is pleased to share an upcoming opportunity to acquire 1420 W. Olive Avenue, a highly visible, 13,600-square-foot freestanding single-tenant long-term leased asset in the heart of Burbank, California. The property is fully leased to the U.S. General Services Administration for use as a Social Security Administration branch office, with a newly executed long-term lease extension through November 2037.
Purpose-built for GSA in 2007 and occupied by the SSA for nearly two decades, the asset offers a compelling combination of credit quality, long-term stability, and minimal management intensity. The lease is backed by the full faith and credit of the United States government, with Moody’s Aa1 credit, providing investors with a secure income profile in one of Los Angeles County’s most supply-constrained submarkets.
Purpose-built for GSA in 2007 and occupied by the SSA for nearly two decades, the asset offers a compelling combination of credit quality, long-term stability, and minimal management intensity. The lease is backed by the full faith and credit of the United States government, with Moody’s Aa1 credit, providing investors with a secure income profile in one of Los Angeles County’s most supply-constrained submarkets.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Building Size
13,600 SF
Building Class
B
Year Built
2007
Price
$9,500,000
Price Per SF
$698.53
Cap Rate
5.64%
NOI
$536,151
Tenancy
Single
Building Height
1 Story
Typical Floor Size
13,600 SF
Building FAR
0.33
Lot Size
0.95 AC
Zoning
C2, Burbank
Parking
93 Spaces (3.82 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 2446-031-030 | Improvements Assessment | $3,315,842 |
| Land Assessment | $6,768,975 | Total Assessment | $10,084,817 |
Property Taxes
Parcel Number
2446-031-030
Land Assessment
$6,768,975
Improvements Assessment
$3,315,842
Total Assessment
$10,084,817
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1420 W Olive Ave
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