Retail Building on Wilshire
1402 Wilshire Blvd Santa Monica, CA
For Sale
Contact for pricing
Retail building with two tenants on month-to-month leases.
Property Size8,557 SF
Lot Size0.58 Acres
Price / SF$642.75
Days on Market667
Property Features for 1402 Wilshire Blvd
General Information
Standard status
Active
Size
8,557 SF
Lot size
0.58 Acres
Property subtype
RETAIL
Listing Agency:
WESTMAC Commercial Brokerage Company
(310) 966-4352
Listed By:
T.C. Macker · License #CA 01232033
Source:
Moodyscre
Added: Oct 2, 2024
Changed: Jul 6
Last Checked: Jul 21 at 5:44AM
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 WESTMAC Commercial Brokerage Company
Investment Insights
Based on property information with market context.
A retail building is available, currently occupied by a pet supply store and a political office. Both tenants operate on a month-to-month basis, presenting an opportunity for an owner-user to occupy the premises. The property has a size of 8,557 square feet and is located on Wilshire Boulevard in Santa Monica, CA.
Key Highlights
- Retail building available for immediate occupancy.
- Suitable for owner‑user.
- Tenants are on a month‑to‑month basis.
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 | $289.6k | $33.84 |
| − Vacancy | −$19.1k | −$2.23 |
| EGI | $270.5k | $31.61 |
| − OpEx | −$81.1k | −$9.48 |
| NOI | $189.3k | $22.12 |
8,557 SF · lease $33.84/SF/yr · vacancy 6.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.70M
$2.37M – $3.16M
NOI $189,320 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.58M
$4.01M – $5.34M
NOI $320,697 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Retail building with two tenants on month-to-month leases.
Where is this retail space located?
The property is located at 1402 Wilshire Blvd Santa Monica, CA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Retail building available for immediate occupancy.; Suitable for owner‑user.; Tenants are on a month‑to‑month basis.
