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923 N Hollywood Way 4,990 SF Retail Building Burbank, CA 91505 $3,445,000 ($690.38/SF) 5.26% Cap Rate
Investment Highlights
- Pride of ownership single story commercial, fully built out as creative office and recording studio
- Incredible frontage near one of Burbank’s most desirable intersections at Hollywood Way and Magnolia Blvd with traffic counts of 32,458 vehicles/day
- Features two working sound stages (ADR & DUB)
- Amazing owner user opportunity or investment - in place 5.26% cap rate
- Ten private parking spaces available via back alley plus excellent street parking in front of the building
Executive Summary
PRICE REDUCED!
NAI Capital is pleased to present 923 N Hollywood Way, a pride of ownership creative office and recording studio in one of Burbank’s most desirable areas. The property is located near the signalized intersection of N Hollywood Way and Magnolia Blvd, with easy access to a variety of local eateries, creative businesses, and the hub of the entertainment industry. The single-story building is currently improved with creative offices, 2 working sound stages, restrooms, full kitchen, and both private and common areas, allowing for a variety of creative uses. The 4,990 SF building was originally constructed in 1952 and fully renovated in 2018.
Owner users can take advantage of the short term leases in place to occupy all or some of the building. Qualifying owner users occupying 51% or more of the RBA can qualify for SBA financing with as little as 10% down payment. Alternatively, investors can take advantage of the existing tenants in place to purchase at a 5.26% cap rate, with upside in rents.
NAI Capital is pleased to present 923 N Hollywood Way, a pride of ownership creative office and recording studio in one of Burbank’s most desirable areas. The property is located near the signalized intersection of N Hollywood Way and Magnolia Blvd, with easy access to a variety of local eateries, creative businesses, and the hub of the entertainment industry. The single-story building is currently improved with creative offices, 2 working sound stages, restrooms, full kitchen, and both private and common areas, allowing for a variety of creative uses. The 4,990 SF building was originally constructed in 1952 and fully renovated in 2018.
Owner users can take advantage of the short term leases in place to occupy all or some of the building. Qualifying owner users occupying 51% or more of the RBA can qualify for SBA financing with as little as 10% down payment. Alternatively, investors can take advantage of the existing tenants in place to purchase at a 5.26% cap rate, with upside in rents.
Property Facts
Sale Type
Investment
Property Type
Building Size
4,990 SF
Building Class
B
Year Built
1952
Price
$3,445,000
Price Per SF
$690.38
Cap Rate
5.26%
NOI
$181,207
Tenancy
Single
Building Height
1 Story
Building FAR
0.65
Lot Size
0.18 AC
Zoning
BUC3* - Commercial
Parking
10 Spaces (2 Spaces per 1,000 SF Leased)
Frontage
81’ on N Hollywood Way
Amenities
- 24 Hour Access
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Post Production Studios
- Professional, Scientific, and Technical Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Post Production Studios | Professional, Scientific, and Technical Services | - | - | - |
Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 2480-012-016 | Improvements Assessment | $544,543 |
| Land Assessment | $1,894,072 | Total Assessment | $2,438,615 |
Property Taxes
Parcel Number
2480-012-016
Land Assessment
$1,894,072
Improvements Assessment
$544,543
Total Assessment
$2,438,615
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923 N Hollywood Way