Standalone Flex
For Sale
Contact for pricing
2939 Nebraska Avenue, Santa Monica, CA 90404
Corner asset combines office and warehouse functionality within a creative workspace.
Property Size26,749 SF
Lot Size0.76 Acres
Price / SF$477.59
Days on Market1295
Property Features for 2939 Nebraska Avenue
General Information
Standard status
Active
Size
26,749 SF
Lot size
0.76 Acres
Property subtype
Office
Site & Location
Neighborhood
Pico
Building Details
Buildings
1
Building Size
26,749 SF
Listing Agency:
CBRE - West LA
Listed By:
Michelle Esquivel-Hall · License #CA 01290582
(310) 550-2525
Source:
Crexi
Added: Apr 11, 2023
Changed: Oct 25
Last Checked: Oct 24 at 6:05PM
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 CBRE - West LA
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This standalone corner property contains a 26,749-square-foot creative office building on 32,923 square feet of land. The existing configuration combines office and warehouse functions, offering a flexible commercial layout for an owner-user or investor. The building is positioned within a 0.755-acre parcel and is identified as a flex space asset.
Located at 2939 Nebraska Avenue in Santa Monica, the property is near technology and media employers, as well as restaurants, nightlife, and other amenities. Its Southern California setting places the building within the area identified as Silicon Beach. The site’s corner position and combination of building and land provide the core physical characteristics for evaluating its current office-and-warehouse configuration.
Located at 2939 Nebraska Avenue in Santa Monica, the property is near technology and media employers, as well as restaurants, nightlife, and other amenities. Its Southern California setting places the building within the area identified as Silicon Beach. The site’s corner position and combination of building and land provide the core physical characteristics for evaluating its current office-and-warehouse configuration.
Key Highlights
- 26,749 SF creative office building
- 32,923 SF of land on a 0.755‑acre parcel
- Corner, stand‑alone building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$584,712
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,694,240
$11.7M
Cap Rate 7%
$8,353,029
$8.4M
Cap Rate 9%
$6,496,800
$6.5M
Market Conditions
NOI Build-Up for 26,749 SF
Gross rent
$1.03M $38.40/SF
− Vacancy
−$247.5K −$9.25/SF
EGI
$779.6K $29.15/SF
− OpEx
−$194.9K −$7.29/SF
NOI
$584.7K $21.86/SF
Area
Los Angeles County, CA
Vacancy
24.10%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,694,240
Cap Rate 7%
$8,353,029
Cap Rate 9%
$6,496,800
Alternative Uses
Best Use
Office B
$8.35M
$7.31M – $9.75M
NOI $584,712 @ 7.0% cap · market cap 4.58%
Second Best
Warehouse
$4.97M
$4.35M – $5.80M
NOI $348,056 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$14.32M
$12.53M – $16.71M
NOI $1,002,492 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,299
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90404, CA
21,995
Population
11,499
Households
1.9
Avg Household Size
39
Median Age
59%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
10,998
Density / Sq Mi
$85,081
Median Household Income
$66,349
Median Earnings
$2,095
Median Rent
$1,159,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- TransConcept LLC — 3101 Ocean Park Blvd, Santa Monica, CA 90405
- Wantacos — 2500 Broadway, Santa Monica, CA 90404
- An Catering — 2700 Colorado Ave #190, Santa Monica, CA 90404
- Creative Cookery — 1424 Harvard St C, Santa Monica, CA 90404
- Food Truck Association Los Angeles — 12210 1/2 Nebraska Ave, Los Angeles, CA 90025
Frequently Asked Questions
What type of property is this?
Flex space - Corner asset combines office and warehouse functionality within a creative workspace.
Where is this flex space located?
The property is located at 2939 Nebraska Avenue Santa Monica, CA.
What is the asking price?
The asking price for this property is $12,775,000.
What are key features of this property?
This property features: 26,749 SF creative office building; 32,923 SF of land on a 0.755‑acre parcel; Corner, stand‑alone building
