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2020 Glenoaks Blvd SOUTHERN CALIFORNIA'S PREMIER SALES TEAM A 2,021 SF VACANT MEDICAL OFFICE BUILDING IDEALLY LOCATED ALONG GLENOAKS BOULEVARD IN THE HIGHLY DESIRABLE SUB-MARKET OF BURBANK, CA INVESTMENT ADVISORS BRANDON MICHAELS MATTHEW LUCHS Senior Managing Director of Investments First Vice President Investments Senior Director, National Retail Group National Retail Group Tel: (818) 212-2794 Tel: (818) 212-2727 TABLE OF CONTENTS Fax: (818) 212-2710 Fax: (818) 212-2710 [email protected] [email protected] License: CA #01434685 License: CA #01948233 www.BrandonMichaelsGroup.com www. BrandonMichaelsGroup .com PROPERTY OVERVIEW CONFIDENTIALITY AND DISCLAIMER 01 The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus FINANCIAL ANALYSIS & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. 02 Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved. NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corpora- tion of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. COMPARABLES ANALYSIS PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. 03 AREA OVERVIEW SOUTHERN CALIFORNIA'S PREMIER SALES TEAM 04 01 PROPERTY OVERVIEW 5 SYLMAR A 2,021 SF VACANT MEDICAL OFFICE BUILDING IDEALLY LOCATED ALONG GLENOAKS BOULEVARD IN THE HIGHLY DESIRABLE SUB-MARKET OF BURBANK, CA The Brandon Michaels Group of Marcus & Millichap is pleased to present for sale a medical office building located at 2020 North Glenoaks Boulevard located in Burbank, California. The subject property is a 2,021 square foot vacant medical office building situated on 2,728 square feet of land strategically situated along Glenoaks Boulevard, a main thoroughfare through the highly desirable Los Angeles County submarket of Burbank, CA. The subject property benefits from an excellent, amenity rich location surrounded by national retailers, restaurants, entertainment, single-family residences, and along a Bus Line. The subject property is within close proximity to the Interstate 5 Golden State Freeway and the Bob Hope Hollywood Burbank Airport (approximately 2.6 miles away). 2020 North Glenoaks is ideal for an Owner-User buyer looking to occupy the existing medical space. N. 5TH STREET 2020 North Glenoaks Boulevard is a fully built out medical office building with two medical rooms, offices, reception, and patient waiting area. The subject property has been a medical office for over 30 years. The property has three surface parking spaces behind the property and plenty of street parking available surrounding N GLENOAKS BLVD the building. The subject property has a 74 Walk Score, making this a very walkable location. SCOTT ROAD Burbank is served by six major freeways and home to the Bob Hope Airport (Hollywood Burbank Airport), which flies 5.2 million passengers annually. Additionally, the subject property benefits from proximity to Downtown Burbank which includes the newly renovated Burbank Town Center. Anchored by Macy’s, Barnes & Noble and two AMC theaters (top five grossing in the country), the center offers over 140 specialty retailers and restaurants. Significant growth is projected in the form of new commercial and residential development and significant job growth, which is anticipated to migrate north and have a significant positive impact on surrounding communities. 6 | 2020 N. GLENOAKS BLVD | BURBANK, CA 91504 $569 PRICE/SF (BUILDING) $422 PRICE/SF(LAND) PROPERTY INFORMATION PRICE: $1,150,000 5.09% BUILDING SF: 2,021 SF PRO FORMA CAP RATE LAND SF: 2,727 SF PRICE/SF (BUILDING): $569 PROPERTY HIGHLIGHTS PROPERTY PRICE/SF (LAND): $422 PRO FORMA CAP RATE: 5.09% PARKING: 3 Free Surface Spaces Available APN NUMBER: 2472-016-002 ZONING: BUC3* 9 8 | 2020 N. GLENOAKS BLVD | BURBANK, CA 91504 STRONG IMMEDIATE TRADE AREA CREATES A EXCELLENT BURBANK, CA LOCATION UNIQUE OWNER-USER OPPORTUNITY SURROUNDED BY A MIX OF OFFICE BUILDINGS BUSINESS FRIENDLY ENVIRONMENT • Close Proximity to Burbank Airport, the Interstate 5 Golden • Elevator Served • Secure Cash Flow With Established Tenant • Excellent Burbank location State Freeway, Downtown Burbank, and the Entertainment 3 surface parking spaces available • Burbank is a well-managed city home to several large • Ideal for Owner/User Medical Buyer District of Burbank • companies 2,021 square feet building • 74/100 Walk Score – Very Walkable Location • • Strong Demographics, amenity rich environment surrounded by • Situated along a Bus Line master planned communities Average household income of $86,768 • Excellent Visibility along Glenoaks Boulevard, a main • thoroughfare through Burbank INVESTMENT HIGHLIGHTS 11 10 | 2020 N. GLENOAKS BLVD | BURBANK, CA 91504 PROPERTY DETAILS PROPERTY SITE SQUARE FOOTAGES PARKING The total building square footage is 3 free surface parking spaces are The subject property is located near the 2,021 SF. The total land square footage available. intersection of Scott Road and Glenoaks is 2,727 SF. Blvd. N GLENOAKS BLVD APN NUMBERS TRAFFIC COUNTS ZONING SCOTT ROAD ROAD SCOTT SCOTT 2472-016-002 The traffic counts along N Glenoaks The property is zoned BUC3*. Blvd and Cambridge Dr are 1,095 vehicles per day. 12 | 2020 N. GLENOAKS BLVD | BURBANK, CA 91504 02 FINANCIAL ANALYSIS RENT ROLL PRICING TENANT SF SF % PRO FORMA RENT PRO FORMA RENT/SF Vacant 2,021 100% $6,568.25 $3.25 PRICE: $1,150,000 TOTAL 2,021 100% $6,568.25 $3.25 BUILDING SF: 2,021 SF LAND SF: 2,727 SF PRICE/SF (BUILDING): $569 OPERATING DATA PRICE/SF (LAND): $422 CURRENT EXPENSES* PER YEAR PER SF PRO FORMA CAP RATE: 5.09% FINANCIAL ANALYSIS Scheduled Lease Income $42,000 Taxes @1.25% $14,375 $7.11 NNN Charges - Insurance $505 $0.25 Effective Gross Income $42,000 Utilities $2,526 $1.25 Expenses $20,256 Trash $323 $0.16 Net Operating Income $21,744 Janitorial $1,516 $0.75 Repairs & Maintenance $1,011 $0.5 TOTAL $20,256 $10.02 /$0.84 *Projected expenses based on industry averages 16 | 2020 N. GLENOAKS BLVD | BURBANK, CA 91504 2020 GLENOAKS BLVD | BURBANK, CA 91504 | 17 03 COMPARABLES ANALYSIS BUILDING PRICE/SF PRICE/SF ADDRESS PRICE LAND SF ZONING SALES DATE SF (BLDG) (LAND) 2020 Glenoaks Blvd 1 3210 W Burbank Blvd 3210 W Burbank Blvd 1 $1,685,000 4,000 $421.25 5,449 $309.21 C3 4/7/2019 Burbank, CA 91505 2 3212-3214 W Burbank Blvd 3 3216 W Burbank Blvd 3212-3214 W Burbank Blvd 2 $1,400,000 2,900 $482.76 5,428 $257.94 C3 4/1/2019 Burbank, CA 91505 4 1901-1903 W Magnolia Blvd 9 5 2000 W Magnolia Blvd 3 3216 W Burbank Blvd 3 $950,000 2,250 $422.22 2,614 $363.48 C3 8/31/2018 2 8 6 1150 W Olive Ave Burbank, CA 91505 4 1 5 7 1411 W Olive Ave 6 1901-1903 W Magnolia Blvd 7 4 $3,000,000 7,634 $392.98 7,035 $426.44 BUC3YY 4/9/2019 8 325 N Victory Blvd Burbank, CA 91506 9 919-923 N Victory Blvd 2000 W Magnolia Blvd 5 $3,175,000 8,664 $366.46 6,900 $460.15 BUC3YY 6/25/2019 SALES COMPARABLES Burbank, CA 91506 SALES COMPARABLES | PRICE/SF 1150 W Olive Ave 6 $2,300,000 5,641 $407.73 12,262 $187.57 BUC2* 7/3/2019 Burbank, CA 91506 1411 W Olive Ave 7 $2,450,000 5,612 $436.56 10,890 $224.98 BUC2YY 12/31/2018 Burbank, CA 91506 $464 AVG PRICE/SF (BUILDING) 325 N Victory Blvd 8 $880,000 1,050 $838.10 3,010 $292.36 C4 12/4/2018 Burbank, CA 91502 919-923 N Victory Blvd 9 $3,265,000 8,000 $408.13 13,504 $241.79 CH* 8/31/2018 Burbank, CA 91502 5,083 AVG SF (BUILDING) AVERAGE $2,122,778 5,083 $464.02 7,455 $307.10 - - 20 | 2020 N. GLENOAKS BLVD | BURBANK, CA 91504 2020 GLENOAKS BLVD | BURBANK, CA 91504 | 21 ADDRESS
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