Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Venice Beach Creative Opportunity Title is generated by Realmo AI

    215 Avenue, Venice, CA 90291

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Creative office or live/work space in vibrant Venice Beach.

    Type:Office
    Property size:
    1,634 SF
    Price / SF:
    $5/SF
    Added:
    Jun 30, 2024
    Days on Market:
    694
    Last Refresh:
    Apr 1 at 9:19 pm

    Property Features for 215 Avenue

    General Information

    Standard status
    Active
    Size
    1,634 SF
    Property subtype
    Office

    Building Details

    Year Built
    1905

    We can help!

    Listing Contact
    Mark Ehlers

    Listing agent Mark Ehlers

    Listing office DRE #01955008

    Listing date Jun 30, 2024

    Source Xome

    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 DRE #01955008

    HighLights

    • Prime Venice Beach location near Windward Circle and the Venice sign, offering high visibility and access.
    • Versatile C2 zoning allows for commercial, live/work, or creative office uses.
    • Located near Abbott Kinney, Rose Corridor, and Main Street, with easy access to beaches.
    • Standalone single‑story building with skylit ceilings and abundant natural light.
    • 1,634 sq ft with 3 bedrooms, remodeled kitchen, and 2 bathrooms.
    • Alley access parking for ±4 cars and storage room with separate entry.

    Overview

    Located in Venice Beach near the Venice sign, this property offers a creative office or live/work opportunity on a C2 street-to-alley lot. The property is situated near Abbott Kinney, Rose Corridor, and Main Street, and is within walking and biking distance to the beach. The standalone single-story boutique building features skylit ceilings and natural lighting, with an open floor plan. The building spans 1,634 square feet and includes three bedrooms, a remodeled kitchen, and two bathrooms. A storage room with a separate entry and a crawlspace provide storage or data room options. Alley access allows parking for approximately four cars. The property is less than a mile from Marina del Rey and two miles from Santa Monica, with access to Highway 1, 10, and 405 freeways, and LAX Airport.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Venice
    County
    Los Angeles
    State
    California
    Longitude
    -118.463
    Latitude
    33.9944

    Nearby Similar for Sale

    • $4,995,000
      9,532 SF

      Venice Multifamily Asset with Upside

      Turnkey 14-unit multifamily property in a desirable Venice location.
      2001 Penmar Ave, Venice, CA 90291
      View Details
    • $3,888,000
      3,288 SF

      Venice Multifamily Investment Opportunity

      Eight-unit multifamily property in coveted Venice, California.
      250 3rd Ave, Venice, CA 90291
      View Details
    • $2,695,000
      3,408 SF

      Venice Triplex Near the Beach

      Multifamily property near dining, shopping, and entertainment.
      241 Horizon Avenue, Venice, CA 90291
      View Details
    • $5,698,000
      7,068 SF

      Venice Canals Luxury Multi-Unit Property

      Premier 5-unit trophy asset on the Venice Canals.
      3000 Grand Canal, Venice, CA 90291
      View Details
    • $2,750,000
      4,528 SF

      Venice Multifamily Investment Opportunity

      Six-unit property near Abbot Kinney with income potential.
      656 Indiana Ave, Venice, CA 90291
      View Details
    • $4,295,000
      3,600 SF

      Venice Canals Duplex with Views

      Duplex in Venice Canals with rooftop deck and water views.
      224 Linnie Canal, Venice, CA 90291
      View Details
    • $3,495,000
      2,550 SF

      Venice Corner Lot Multifamily Property

      Rare corner lot with canal frontage and redevelopment potential.
      2300 Grand Canal, Venice, CA 90291
      View Details
    • $4,950,000
      5,486 SF

      Venice Multi-Unit Compound with Views

      Architectural four-unit property in the heart of Venice.
      2452 Penmar Ave, Venice, CA 90291
      View Details
    • $7,700,000
      7,000 SF

      Iconic Venice Vanguard Lofts Compound

      Unique 7,000+ sq ft compound in the heart of Venice.
      120 Mildred Ave, Venice, CA 90291
      View Details
    • $3,395,000
      4,008 SF

      Venice Multifamily Investment Opportunity

      Seven-unit multifamily property in the desirable Venice Canals neighborhood.
      2008 Strongs Dr, Venice, CA 90291
      View Details
    • $1,995,000
      3,289 SF

      Venice Triplex with Income Potential

      Venice triplex with architectural design, income potential, and long-term flexibility.
      558 San Juan Ave, Venice, CA 90291
      View Details
    • $1,695,000
      2,042 SF

      Venice Fourplex with Vacant Units

      Venice fourplex with owner-user potential near Abbott Kinney.
      134 Park Pl, Venice, CA 90291
      View Details

    FAQs

    What type of property is this?
    Live-work space - Creative office or live/work space in vibrant Venice Beach.
    Where is this live-work space located?
    The property is located at 215 Avenue Venice, CA.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Prime Venice Beach location near Windward Circle and the Venice sign, offering high visibility and access.; Versatile C2 zoning allows for commercial, live/work, or creative office uses.; Located near Abbott Kinney, Rose Corridor, and Main Street, with easy access to beaches.
    (310) 667-1469
    We can help!
    Listing Contact
    Mark Ehlers
    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

    Thank You for Inquiry
    215 Avenue, Venice, CA 90291
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!