Single-Tenant Net Leased
1251 4th Street Santa Monica, CA 90401
For Sale
Contact for pricing
Coastal TJ Maxx on a signalized corner in Santa Monica’s retail core, anchored by a long-standing single-tenant lease.
Property Size32,000 SF
Lot Size0.32 Acres
Price / SF$631.81
Days on Market58
Property Features for 1251 4th Street
General Information
- Standard status
- Active
- Size
- 32,000 SF
- Lot size
- 0.32 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1956
Listing Agency:
Newmark | Los Angeles - Downtown
Listed By:
Kyle Miller · License #CA 01716644
Source:
Crexi
Added: May 28
Changed: Jul 10
Last Checked: Jul 23 at 7:10AM
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 Newmark | Los Angeles - Downtown
Investment Insights
Based on property information with market context.
This property is a single-tenant net leased retail asset occupied by TJ Maxx. The offering includes a TJ Maxx store operating on 0.32 acres with a stated building size of 32,000 square feet. The store has operated at this location since 2009, and the tenant has recently executed the first option, with that option period expiring in 2032. Two additional five-year options remain.
The property is located at 1251 4th Street on the signalized hard corner of Arizona Avenue and 4th Street, in the heart of Santa Monica’s commercial district. The site is described as coastal and high-profile, benefitting from heavy pedestrian and tourism activity associated with the area.
For investors and credit-focused buyers, the tenant is TJ Maxx, whose parent company TJX (NYSE) is identified in the materials as a stable, credit-worthy retailer. The information provided also states TJX’s scale, including a market cap exceeding $175 billion and 12-month revenues of over $61 billion, along with a positive net cash position. The lease structure includes a term through 2032 and two remaining five-year options, supporting a straightforward long-term hold profile consistent with the single-tenant configuration.
The property is located at 1251 4th Street on the signalized hard corner of Arizona Avenue and 4th Street, in the heart of Santa Monica’s commercial district. The site is described as coastal and high-profile, benefitting from heavy pedestrian and tourism activity associated with the area.
For investors and credit-focused buyers, the tenant is TJ Maxx, whose parent company TJX (NYSE) is identified in the materials as a stable, credit-worthy retailer. The information provided also states TJX’s scale, including a market cap exceeding $175 billion and 12-month revenues of over $61 billion, along with a positive net cash position. The lease structure includes a term through 2032 and two remaining five-year options, supporting a straightforward long-term hold profile consistent with the single-tenant configuration.
Key Highlights
- Single‑tenant net leased TJ Maxx in Santa Monica, located at 1251 4th Street
- 32,000 SF TJ Maxx on 0.32 acres, operating at the property since 2009
- Lease recently executed 1st option; expires in 2032 with two (2) additional 5‑year options remaining
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.08M | $33.84 |
| − Vacancy | −$71.5k | −$2.23 |
| EGI | $1.01M | $31.61 |
| − OpEx | −$303.4k | −$9.48 |
| NOI | $708.0k | $22.12 |
32,000 SF · lease $33.84/SF/yr · vacancy 6.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$10.11M
$8.85M – $11.80M
NOI $707,987 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.13M
$14.99M – $19.99M
NOI $1,199,287 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
T.J. Maxx
Department Store
FAQs
What type of property is this?
Retail space - Coastal TJ Maxx on a signalized corner in Santa Monica’s retail core, anchored by a long-standing single-tenant lease.
Where is this retail space located?
The property is located at 1251 4th Street Santa Monica, CA.
What is the asking price?
The asking price for this property is $20,218,000.
What are key features of this property?
This property features: Single‑tenant net leased TJ Maxx in Santa Monica, located at 1251 4th Street; 32,000 SF TJ Maxx on 0.32 acres, operating at the property since 2009; Lease recently executed 1st option; expires in 2032 with two (2) additional 5‑year options remaining
