Commercial Real Estate in Burbank: Recent Sales & Market Insights in 2024
Burbank is attracting considerable investor interest across Southern California related to its energetic economy, favorable location, and expanding retail and industrial sectors. In this post, we will look at a handful of recent sold transactions in Burbank to demonstrate broader trends for Commercial Real Estate in Burbank and how those trends may inform potential buyers, sellers, and developers.
Recent Transactions
Here are a few commercial properties that recently sold in Burbank, demonstrating a range of property types and sizes:
| Property | Sale Price | Building Size | Lot Size | Date Sold | Key Notes |
|---|---|---|---|---|---|
| 3108 W Magnolia Blvd | US$1,650,000 | ~1,925 sq ft | ~2,672 sq ft | August 2, 2024 | A relatively small building—often indicates opportunity for niche retail, restaurant, or office users. |
| 3400-3404-3408 W Victory Blvd | US$3,315,200 | ~5,328 sq ft | ~10,488 sq ft | July 24, 2024 | Mid-sized multi-tenant or single-tenant possibilities; lot size large enough for expansion or parking. |
| 4301 W Riverside Drive | US$3,900,000 | ~13,152 sq ft | ~19,019 sq ft | February 20, 2024 | Includes restaurant use and a significant parking component; shows the premium Burbank places on mixed use with high visibility. |
These recent sales demonstrate the wide range of Commercial Real Estate in Burbank: from small retail/office buildings to larger mixed-use properties with good parking and ancillary buildings.
What These Sales Tell Us About the Market
Strong Demand for Mixed Use & Restaurant-Friendly Locations
The Riverside Drive property—restaurant and parking lots—points out that businesses will pay top dollar for visibility and accessibility (especially for the dining or service industries) in Burbank; and if the business has usable space inside, coupled with plenty of parking area, the property appreciation often is dramatic.
Lot Size Matters
Across example after example, if lots are larger, they will have a better price not only due to parking but for potential expansion possibilities. Investors looking at the area of Burbank for a piece of Commercial Real Estate need to pay special attention to lot dimensions; in some cases, the land value can be equal to the value of the existing structure.
Price Per Square Foot Is Up
Smaller buildings may yield higher relative value per square foot if positioned well. While larger buildings tend to have greater total returns because of scale, the unit cost may be compressed. In Burbank, prime locations tend to blur those lines.
Turnover and Liquidity
These properties have all changed hands recently, which suggests liquidity remains healthy in the Burbank commercial market. Active sales indicate that investors believe there is still upward potential, whether from redevelopment, lease income, or repositioning.
Why Burbank Remains Attractive for Commercial Real Estate
Strategic Location — Situated between Los Angeles and the San Fernando Valley, with excellent transportation access. This makes Burbank an appealing hub for businesses that need to serve a great area.
Diverse Industries — From media and entertainment to tech, retail, and hospitality, the city supports a range of commercial tenants. That diversity helps stabilize rental demand.
Zoning & Local Policy Incentives: Burbank’s local government has frequently backed adaptive reuse or redevelopment, particularly in mixed-use areas. Improvements to transit and infrastructure also play a role.
Appeal to Tenants: Burbank attracts retail and office tenants due to its thriving retail corridors, increasing residential density, and quality of life amenities, which set it apart from less accessible or less-amenitized markets.
What Buyers & Investors Should Watch
Due Diligence on Parking & Access: Despite having other excellent features, properties with poor parking or ingress/egress frequently perform poorly in terms of value.
Tenant Mix: The risk profile will be impacted by the proportion of single-tenant versus multi-tenant properties. Particularly valuable are long-term, steady tenants.
Building Condition & Improvement Costs: Although older buildings may be valuable, the expenses associated with retrofitting, code compliance, or upgrades may reduce returns.
Future Land Use or Zoning Changes: Be informed about any upcoming master plans or zoning changes in your area that might present chances for redevelopment. Long-term value may be greatly impacted by these.
Interest rates and financing: Like in many markets, yield and investment returns are significantly impacted by financing conditions, such as interest rates and loan-to-value ratios.
What Might Be Coming Next
Looking ahead, there are a few developments and trends that may shape Commercial Real Estate in Burbank going forward:
Adaptive Reuse & Mixed-Use Conversions: If permitted by zoning, abandoned industrial or underutilized buildings may be converted into mixed-use spaces that combine office, retail, and residential use.
Focused Retail Revitalization: To increase foot traffic, important commercial corridors could be reinvested in by improving storefronts, public areas, and pedestrian access.
Sustainability & ESG Factors: Energy efficiency, EV charging stations, and green building certifications are becoming more and more important to buyers. Both cost savings and premium valuations may be provided by these features.
Burbank’s close proximity to the media and entertainment industries may increase demand for creative office space, such as studios, production offices, and design firms. This is assuming that buildings can accommodate specialized infrastructure, such as soundproofing and high ceilings.
Final Thoughts
The data from recent property sales confirms that the Burbank commercial real estate market is still vibrant and desirable for those who are interested in it. Value is largely determined by factors like location, lot size, parking, and tenant mix. Burbank offers attractive prospects for investors seeking cash flow, developers considering redevelopment, and businesses seeking space, but only if the finer points are carefully considered.
The staff at DMC Real Estate & Investments is available to assist you with evaluating particular properties, contrasting neighborhoods, or estimating cash flow for commercial assets in Burbank. We’re dedicated to assisting you in making the best possible investment choices by providing you with access to off-market opportunities and knowledge of regional market trends.