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117 N. Victory Blvd.B u r b a n k , C A 9 1 5 0 2
THOMAS A. MASTERANIDirector, Commercial Division
(818) [email protected]
CalBRE#00716502
S E C T I O N : | 2
Fully leased investment within close proximity to all of Burbank's majorstudios and media tenants, providing income and future potential to aninvestor. Primary tenant is Centanni, an Italian restaurant that hasestablished a good following since its opening in 2015.Leases for secondary tenants, a chiropractic office and an insurance agency,are significantly under market and expire in late 2019, providing an increasein return the second year of ownership. Both have expressed strong interestin extending their leases.
PROPERTY OVERVIEW
Corner location near intersection of Olive Avenue and Victory Boulevard.LOCATION OVERVIEW
OFFERING SUMMARY
Sale Price: $2,195,000
Price / SF: $450.07
Cap Rate: 4.17%
NOI: $91,610
Lot Size: 0.26 Acres
Year Built: 1949
Building Size: 4,877 SF
Zoning: C-3
Market: Burbank
Submarket: San Fernando
Valley
Executive SummaryB u r b a n k , C A 9 1 5 0 2
S E C T I O N : | 3
PROPERTY ADDRESS: 117 N. Victory Blvd.Burbank, CA 91502
PROPERTY TYPE: Office
APN: 2446-008-012
PRICE / SF: $450.07
LOT SIZE: 0.26 AC
BUILDING CLASS: C
ZONING: C-3
PARKING RATIO: 2.87
CROSS STREETS: W. Clark Avenue (Close to intersection of Olive Avenue and Victory Boulevard)
YEAR BUILT: 1949
NUMBER OF STORIES: 1
NUMBER OF UNITS: 3
Property DetailsB u r b a n k , C A 9 1 5 0 2
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Additional PhotosB u r b a n k , C A 9 1 5 0 2
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117 N. Victory Blvd.
Regional MapB u r b a n k , C A 9 1 5 0 2
S E C T I O N : | 6
Location MapsB u r b a n k , C A 9 1 5 0 2
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Aerial MapB u r b a n k , C A 9 1 5 0 2
S E C T I O N : | 8
INVESTMENT OVERVIEW
Price $2,195,000
Price per SF $450.07
CAP Rate 4.2%
Cash-on-Cash Return (yr 1) 4.17 %
Total Return (yr 1) $91,610
OPERATING DATA
Gross Scheduled Income $108,898
Other Income $10,109
Total Scheduled Income $119,007
Vacancy Cost $0
Gross Income $119,007
Operating Expenses $24,366
Net Operating Income $91,610
Pre-Tax Cash Flow $91,610
FINANCING DATA
Down Payment $2,195,000
Financial SummaryB u r b a n k , C A 9 1 5 0 2
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TENANTNAME
UNITNUMBER
LEASEEND
% OFBUILDING
Centanni Trattoria 117 N. Victory 2/2024 65.61
Ed Kellogg, State Farm Insurance 115 N. Victory 12/2019 12.04
Marco Giuliano, D.C. 111 N. Victory 11/2019 19.19
Rent RollB u r b a n k , C A 9 1 5 0 2
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* Demographic data derived from 2010 US Census
1 MILE 3 MILES 5 MILES
Total households 12,257 64,112 180,246
Total persons per hh 2.4 2.5 2.5
Average hh income $70,000 $78,830 $79,629
Average house value $531,793 $644,252 $672,887
1 MILE 3 MILES 5 MILES
Total population 29,147 162,651 444,615
Median age 37.7 38.8 37.6
Median age (male) 37.4 37.9 37.1
Median age (female) 38.1 39.3 38.0
Demographics ReportB u r b a n k , C A 9 1 5 0 2
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* Demographic data derived from 2010 US Census
POPULATION 1 MILE 3 MILES 5 MILES
TOTAL POPULATION 29,147 162,651 444,615
MEDIAN AGE 37.7 38.8 37.6
MEDIAN AGE (MALE) 37.4 37.9 37.1
MEDIAN AGE (FEMALE) 38.1 39.3 38.0
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
TOTAL HOUSEHOLDS 12,257 64,112 180,246
# OF PERSONS PER HH 2.4 2.5 2.5
AVERAGE HH INCOME $70,000 $78,830 $79,629
AVERAGE HOUSE VALUE $531,793 $644,252 $672,887
Demographics MapB u r b a n k , C A 9 1 5 0 2
