Office/Warehouse Flex Space in Prime Burbank | 1016 W Magnolia Blvd
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Office/Warehouse Flex Space in Prime Burbank 1016 W Magnolia Blvd
8,424 SF Office Building Burbank, CA 91506 $4,000,000 ($475/SF)
Investment Highlights
- Current Owner-Users have Outgrown this Location - Property to be Delivered Vacant or with Short Term Lease Back
- Prime Burbank on Main Thoroughfare Close to Shopping, Entertainment, Airport, Transportation, Studios, and Downtown Los Angeles
- Central HVAC in Both Buildings
- Fantastic Creative Office With Many Potential Uses: Office, Warehouse, Flex, etc.
- Corner Property with Easy Alley Access & Parking
- 2 Ground Level Roll Up Doors in Main Building.
Executive Summary
The Coronado Real Estate Group at Compass Commercial is pleased to present for sale a very unique opportunity to purchase 3 contiguous parcels being sold together. Zoned BUC3, the property consists of two structures and one open parking lot. The property is on the corner of Magnolia Blvd and Lomita St, between Victory and Buena Vista Street. The larger structure is appx 7,000 SF and is currently used as creative office. The corner building is just over 1,500 SF and while zoned as a warehouse, it is also used as creative office. There are 13 parking spaces and the property was completely remodeled in 2011. An owner-user could easily occupy the larger structure and lease out the smaller building, while still qualifying for an owner-user SBA Loan with as little as 10% down payment. There is also flexibility in terms of how the structures are configured, with room to customize the set up to suit many needs. A must see, especially when it’s cheaper to own than rent!
Property Facts Under Contract
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
8,424 SF
Building Class
B
Year Built/Renovated
1946/2011
Price
$4,000,000
Price Per SF
$475
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
6,000 SF
Slab To Slab
14’
Building FAR
0.69
Lot Size
0.28 AC
Zoning
BUC3*
Parking
13 Spaces (1.54 Spaces per 1,000 SF Leased)
Amenities
- Fenced Lot
- Security System
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Balcony
- Smoke Detector
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Walk Score®
Very Walkable (80)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $615,449 | |
| Land Assessment | $1,444,449 | Total Assessment | $2,059,898 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,444,449
Improvements Assessment
$615,449
Total Assessment
$2,059,898
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Office/Warehouse Flex Space in Prime Burbank | 1016 W Magnolia Blvd
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