Iconic Mixed-Use Coastal
For Sale
$9,500,000
2110 Main Street, Santa Monica, CA 90405
Architecturally significant mixed-use property in a prime Santa Monica location.
Property Size17,684 SF
Days on Market172
Property Features for 2110 Main Street
General Information
Standard status
Active
Size
17,684 SF
Property subtype
Mixed Use
Building Details
Building Size
17,684 SF
Year Built
1987
Listing Agency:
Real Investments
Listed By:
Michael Hernandez · License #00317670
(805) 985-1000
Source:
Archetyperealty
Added: Mar 18
Changed: Sep 4
Last Checked: Sep 2 at 6:04PM
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 Real Investments
Investment Insights
Based on property information with market context.
The NEO-FACTO Building is a mixed-use asset located on Main Street in Santa Monica. Designed by Lomax/Rock, this property combines architectural distinction, historical relevance, and a Main Street location. The building features exposed steel and masonry construction and a design-forward aesthetic. It is located in the heart of the Main Street District, two blocks from the ocean, and is surrounded by retail, galleries, dining, and coastal amenities, including nearby luxury hotels such as Shutters on the Beach, Casa del Mar, and The Viceroy. Immediate access to PCH and I-10 enhances regional connectivity to Malibu, Lost Hills, Calabasas, and LAX. The building supports residential live/work, office, and retail uses. It features modern systems and consistent maintenance, high ceilings, exposed masonry, abundant natural light via operable windows, and expansive outdoor patio areas. There are two levels of private, gated, subterranean parking. The building was formerly occupied by filmmaker Sydney Pollack. The property offers a combination of live/work, office, and retail functionality.
Key Highlights
- Prime Santa Monica Location: Situated in the heart of the vibrant Main Street District, just two blocks from the ocean.
- Triple Mixed‑Use Flexibility: Supports residential live/work, office, and retail uses.
- Architecturally Significant Design: Designed by world‑renowned Lomax/Rock, featuring striking exposed steel and masonry construction.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$358,101
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,162,020
$7.2M
Cap Rate 7%
$5,115,729
$5.1M
Cap Rate 9%
$3,978,900
$4.0M
Market Conditions
NOI Build-Up for 17,684 SF
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.
Gross rent
$636.6K $36.00/SF
− Vacancy
−$63.7K −$3.60/SF
EGI
$573.0K $32.40/SF
− OpEx
−$214.9K −$12.15/SF
NOI
$358.1K $20.25/SF
Area
Los Angeles County, CA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,162,020
Cap Rate 7%
$5,115,729
Cap Rate 9%
$3,978,900
Alternative Uses
Best Use
Mixed Use
$5.12M
$4.48M – $5.97M
NOI $358,101 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.47M
$8.28M – $11.05M
NOI $662,756 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,488
Businesses Nearby
Explore this area
Business Placement
Demographics for 90405, CA
27,966
Population
15,726
Households
1.8
Avg Household Size
43
Median Age
70%
College-Educated
96%
High-School Grad
2.8 sq mi
ZIP Area
9,988
Density / Sq Mi
$114,489
Median Household Income
$84,727
Median Earnings
$2,311
Median Rent
$1,940,700
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Architecturally significant mixed-use property in a prime Santa Monica location.
Where is this mixed-use property located?
The property is located at 2110 Main Street Santa Monica, CA.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: Prime Santa Monica Location: Situated in the heart of the vibrant Main Street District, just two blocks from the ocean.; Triple Mixed‑Use Flexibility: Supports residential live/work, office, and retail uses.; Architecturally Significant Design: Designed by world‑renowned Lomax/Rock, featuring striking exposed steel and masonry construction.
