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    Santa Monica Live-Work Space Title is generated by Realmo AI

    2450 Colorado Avenue, Santa Monica, CA 90404

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    Live-work space near Santa Monica Pier and Pacific Ocean.

    Type:Office
    Lot size:
    17.00 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    49
    Last Refresh:
    Mar 18 at 9:34 am

    Property Features for 2450 Colorado Avenue

    General Information

    Standard status
    Active
    Lot size
    17.00 Acres
    Property subtype
    Office

    We can help!

    Listing Contact
    Patrick McRoskey

    Listing agent Patrick McRoskey License #00891029

    Listing office

    Listing date Mar 25, 2026

    Source Cbre

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

    All listing content including descriptions, pricing, images are the copyrighted material of Patrick McRoskey

    HighLights

    • Prime location moments from Santa Monica Pier and the Pacific Ocean.
    • Extensive amenities including 5 on‑site restaurants, a state‑of‑the‑art fitness club, day care, valet services, and an on‑site green car wash.
    • Four acres of mixed‑use green space with redesigned rooftop decks, tenant‑only patios, sensory gardens, and meditative fountains.
    • Modern, thoughtfully designed office spaces adaptable for company growth.
    • Vibrant day‑to‑night campus with communal seating, fire pits, bicycle paths, and spaces for events like concerts and movie screenings.
    • Ample parking with EV charging stations and comprehensive safety and security measures.

    Overview

    The Water Garden offers a transformative live-work experience moments away from The Santa Monica Pier and Pacific Ocean. This 17-acre property features a curated collective of offices, amenities, and restaurants integrated with green spaces. Tenants can design their ideal work-life balance within open spaces, fostering creativity, innovation, and collaboration. The property includes redesigned rooftop decks, tenant-only patios, sensory gardens, meditative fountains, and natural material touches. Communal seating areas, fire pits, bicycle paths, and spaces suitable for morning yoga or team meetings transition into evenings with concerts and movie screenings. Office spaces are designed to accommodate company growth, incorporating modern details. Amenities include five on-site restaurants, a state-of-the-art fitness club, day care, valet services, an on-site green car wash, and parking garages with EV charging stations. Safety and security are prioritized. The Water Garden is located on the westside of Los Angeles and is becoming a destination for entertainment, technology, and finance companies.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Strategic Options Real Estate Agency Citrus Studios Marketing & Advertising Orange & Bergamot Marketing & Advertising Santa Monica Office Television Studio Citaldel Media Advertising Agency

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    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
    -118.4721641
    Latitude
    34.0291815

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    FAQs

    What type of property is this?
    Office building - Live-work space near Santa Monica Pier and Pacific Ocean.
    Where is this office building located?
    The property is located at 2450 Colorado Avenue Santa Monica, CA.
    What are key features of this property?
    This property features: Prime location moments from Santa Monica Pier and the Pacific Ocean.; Extensive amenities including 5 on‑site restaurants, a state‑of‑the‑art fitness club, day care, valet services, and an on‑site green car wash.; Four acres of mixed‑use green space with redesigned rooftop decks, tenant‑only patios, sensory gardens, and meditative fountains.
    (310) 226-7403
    We can help!
    Listing Contact
    Patrick McRoskey
    Real Estate License ID: 00891029
    Learn More
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    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
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