Single-Tenant Net Leased
For Sale
$19,000,000
1251 4th Street Santa, Santa Monica, CA 90401
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$593.75
Days on Market144
Property Features for 1251 4th Street Santa
General Information
Standard status
Active
Size
32,000 SF
Lot size
0.32 Acres
Property subtype
Retail
Building Details
Tenancy
Single
Listing Agency:
Newmark
Listed By:
Bill Bauman · License #CA RE Lic. #00969493
(213) 298-3593
Source:
Nmrk
Added: Jun 1
Changed: Oct 10
Last Checked: Oct 20 at 6:17PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$707,987
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,159,740
$14.2M
Cap Rate 7%
$10,114,100
$10.1M
Cap Rate 9%
$7,866,522
$7.9M
Market Conditions
NOI Build-Up for 32,000 SF
Gross rent
$1.08M $33.84/SF
− Vacancy
−$71.5K −$2.23/SF
EGI
$1.01M $31.61/SF
− OpEx
−$303.4K −$9.48/SF
NOI
$708.0K $22.12/SF
Area
Los Angeles County, CA
Vacancy
6.60%
Lease Rate
$33.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,159,740
Cap Rate 7%
$10,114,100
Cap Rate 9%
$7,866,522
Alternative Uses
Best Use
Retail
$10.11M
$8.85M – $11.80M
NOI $707,987 @ 7.0% cap · market cap 3.73%
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 6.31%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,761
Businesses Nearby
444k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 34%
Apparel 32%
Shops & Services 15%
Superstores 9%
Target
Superstores
38,703 visits/mo
0.4 miles
T.J. Maxx
Apparel
31,827 visits/mo
0.1 miles
Hillstone
Dining
26,824 visits/mo
0.2 miles
Nordstrom
Apparel
25,648 visits/mo
0.5 miles
Trader Joe's
Groceries
23,003 visits/mo
0.5 miles
Demographics for 90401, CA
8,167
Population
5,782
Households
1.4
Avg Household Size
39
Median Age
76%
College-Educated
97%
High-School Grad
0.8 sq mi
ZIP Area
10,209
Density / Sq Mi
$106,704
Median Household Income
$98,906
Median Earnings
$2,549
Median Rent
$1,129,700
Median Home Value
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
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 Santa Monica, CA.
What is the asking price?
The asking price for this property is $19,000,000.
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
