Add Listing
    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

    1451 3rd Street Promenade Santa Monica, CA 90401

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime retail space available on the Third Street Promenade.

    Type:Retail
    Property size:
    3,250 SF
    Added:
    Nov 22, 2025
    Days on Market:
    133
    Last Refresh:
    Apr 1 at 8:16 pm

    Property Features for 1451 3rd Street Promenade

    General Information

    Standard status
    Active
    Size
    3,250 SF
    Property subtype
    Retail

    Spaces For Lease

    at 1451 3rd Street Promenade Contact us

    We can help!

    Listing Contact
    Greg Briest

    Listing agent Greg Briest License #01949565

    Listing office

    Listing date Nov 22, 2025

    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 Greg Briest

    Overview

    Retail Space on 3rd Street

    This retail space is available for rent and comprises 3,250 square feet. The property is located on 3rd Street Promenade in Santa Monica, California.
    Location Intelligence

    Current Use by Public Records

    Rip Curl - Santa ... Clothing Store BELLA+CANVAS Retail Store Clothing Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

    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
    -118.495
    Latitude
    34.0149

    Nearby Similar for Lease

    • Contact for pricing

      CA, Santa Monica - Arizona Ave

      301 Arizona Ave, Santa Monica, CA 90401
      View Details
    • Contact for pricing

      Spaces Water Garden

      2450 Colorado Ave, Santa Monica, CA 90404
      View Details
    • Sponsored
      Contact for pricing

      Spaces Santa Monica

      730 Arizona Ave, Unit 2ND, Santa Monica, CA 90401
      View Details
    • $5/mo

      Creative Office Space Available

      State-of-the-art post-production space with soundproof rooms and natural light.
      1907 Olympic Boulevard, Santa Monica, CA 90404
      View Details
    • $3/mo

      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
    • $3/mo

      Freestanding Creative Building For Lease

      Recently renovated creative building with secured entry, near Santa Monica.
      1020 Pico Boulevard, Santa Monica, CA 90405
      View Details
    • $4/mo

      Santa Monica Creative Space

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

      Santa Monica Office Space Available

      Well-maintained office building in Ocean Park business district.
      3205 Ocean Park Blvd, Santa Monica, CA 90405
      View Details
    • $3/mo

      Santa Monica Retail and Office

      Office and retail suites in vibrant Santa Monica location.
      518-522 Wilshire Boulevard, Santa Monica, CA 90401
      View Details
    • $2/mo

      Prime Santa Monica Retail Storefront

      Retail storefront with high visibility in prime Santa Monica location.
      1322 Wilshire Boulevard, Santa Monica, CA 90403
      View Details
    • $4/mo

      Creative Office Building with Natural Light

      Standalone creative office with ample natural light in West Side.
      3003 Pennsylvania Ave, Santa Monica, CA 90404
      View Details
    • Contact for pricing

      Creative Office Space For Rent

      Creative office space in Santa Monica Media District.
      1725 Berkeley Street, Santa Monica, CA 90404
      View Details

    FAQs

    What type of property is this?
    Retail space - Prime retail space available on the Third Street Promenade.
    Where is this retail space located?
    The property is located at 1451 3rd Street Promenade Santa Monica, CA.
    What are key features of this property?
    This property features: Prime retail space; Located on Third Street Promenade
    (818) 800-4492
    We can help!
    Listing Contact
    Greg Briest
    Real Estate License ID: 01949565
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!