Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3003 Pennsylvania Ave Santa Monica, CA 90404

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $4 SF/Yr ($2,100 /Mo)

    Standalone creative office with ample natural light in West Side.

    Property size:
    5,600 SF
    Lot size:
    5,600 SF

    Property Features for 3003 Pennsylvania Ave

    General Information

    Size
    5,600 SF

    We can help!

    Listing Contact
    Aleks Trifunovic, SIOR
    Source: Lee-associates

    Listing Agent: Aleks Trifunovic, SIOR

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Creative Office Building with Natural Light

    This standalone creative office building features 4 offices, a conference room, an open area, and a kitchen. The space benefits from glass roll-up doors and polished concrete throughout, providing ample natural light. It is located on the West Side, approximately a 10-minute walk from the Expo Line (Bergamot Station), with easy access to the 10 and 405 Freeways. The property offers a total size of 5600 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Peri Software Company Rule 14 Consultant HGM Business Management Consultant Zuma Financial Institution PLEXUS Business Management Consultant

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Monica
    County
    Los Angeles
    State
    California
    Longitude
    -118.4654186
    Latitude
    34.0328951

    Nearby Similar for Lease

    • Contact for pricing
      14,856 SF

      Santa Monica Office Space Available

      Well-maintained office building in Ocean Park business district.
      3205 Ocean Park Blvd, Santa Monica, CA 90405
      View Details
    • Contact for pricing

      Santa Monica's Water Garden Office Space

      Mixed-use property near Santa Monica Pier with office, dining, amenities.
      2450 Colorado Ave, Santa Monica, CA 90404
      View Details
    • Contact for pricing

      Santa Monica Sublease with Balconies

      High-end office sublease in vibrant Santa Monica with ocean views.
      201 Santa Monica Blvd, Santa Monica, CA 90401
      View Details
    • $4 SF/Yr
      7,598 SF

      Santa Monica Retail and Office

      Office and retail suites in vibrant Santa Monica location.
      518-522 Wilshire Blvd, Santa Monica, CA 90401
      View Details
    • $4,995 /Mo

      Updated Unit Near Santa Monica College

      Updated 3-bedroom unit in prime Santa Monica location.
      2004 19Th St, Santa Monica, CA 90404
      View Details
    • $3 SF/Yr
      2,968 SF

      Freestanding Office Building in Santa Monica

      Two-story office building with excellent visibility and on-site parking.
      632 Arizona Ave, Santa Monica, CA 90401
      View Details
    • $2,550 /Mo
      579 SF

      Remodeled Condo Near UCLA, SMC

      Remodeled one-bedroom condo near UCLA and Santa Monica College.
      1524 Franklin St, Santa Monica, CA 90404
      View Details
    • $4 SF/Yr
      3,650 SF

      Santa Monica Creative Space

      Creative space in Santa Monica Media District for lease.
      1920 Olympic Blvd, Santa Monica, CA 90404
      View Details
    • Contact for pricing
      32,450 SF

      Wilshire Blvd Therapy Office Suites

      Therapy office suites available in Santa Monica with ample parking.
      3201 Wilshire Blvd, Santa Monica, CA 90403
      View Details
    • $3,195 /Mo

      Modern Apartment Near Ocean Park

      New one-bedroom apartment near the beach and local amenities.
      644 Pier Ave, Santa Monica, CA 90405
      View Details
    • $3 SF/Yr
      55,690 SF

      Prime Santa Monica Mixed-Use Space

      Ground floor space ideal for retail, office, medical, or fitness.
      1450 5Th St, Santa Monica, CA 90401
      View Details
    • Contact for pricing

      High Visibility Wilshire Boulevard Location

      Landmark location with high ceilings and strong retail presence.
      1314 Wilshire Blvd, Santa Monica, CA 90403
      View Details

    FAQs

    What type of property is this?
    Creative space - Standalone creative office with ample natural light in West Side.
    Where is this creative space located?
    The property is located at 3003 Pennsylvania Ave Santa Monica, CA.
    What is the lease rate?
    The lease rate is $4 SF/Yr.
    What are key features of this property?
    This property features: - Standalone Creative Office Building; - Fantastic West Side Location; - Ample Natural Light fills this creative space
    (310) 753-0653
    Request Owner's contact information
    3003 Pennsylvania Ave Santa Monica, CA 90404
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3003 Pennsylvania Ave
    Santa Monica, CA 90404
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3003 Pennsylvania Ave Santa Monica, CA 90404
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Aleks Trifunovic, SIOR
    (310) 753-0653
    Learn more
    Google sign-in failed. Please try again or use another login method.