Creative Space with High-Bay
For Sale
Contact for pricing
903 Colorado Ave, Santa Monica, CA 90401
Fully leased property with flexible interiors, private rooms, open work areas, and a two-story entry.
Property Size16,045 SF
Price / SF$495.48
Days on Market274
Property Features for 903 Colorado Ave
General Information
Standard status
Active
Size
16,045 SF
Elevators
Yes
Property subtype
OFFICE
Occupancy
100%
Listing Agency:
Lee & Associates - West L.A.
(310) 899-2719
Listed By:
Keith Fielding
(310) 899-2719
Source:
Moodyscre
Added: Dec 1, 2025
Changed: Aug 29
Last Checked: Aug 31 at 12:29AM
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 Lee & Associates - West L.A.
Investment Insights
Based on property information with market context.
This 16,045-square-foot creative space is fully leased and offers a distinctive interior with steel-framed windows, skylights, exposed wood ceilings, and polished concrete flooring. The plan combines open work areas with enclosed rooms, providing a varied layout within the building. A high-bay section adds another functional component, while a two-story entry creates a defined arrival experience.
Building systems include package HVAC units serving multiple zones for localized airflow control. The property also has a handicap-accessible elevator, supporting movement between levels. Located at 903 Colorado Ave in Santa Monica, the asset presents a substantial creative office configuration with a mix of open, private, and high-bay areas.
Building systems include package HVAC units serving multiple zones for localized airflow control. The property also has a handicap-accessible elevator, supporting movement between levels. Located at 903 Colorado Ave in Santa Monica, the asset presents a substantial creative office configuration with a mix of open, private, and high-bay areas.
Key Highlights
- 16,045‑square‑foot creative space at 903 Colorado Ave, Santa Monica, CA 90401
- Fully leased building with open work areas and private rooms
- Steel windows, skylights, exposed wood ceilings, and polished concrete floors
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
$350,731
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
4.41%
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%
$7,014,620
$7.0M
Cap Rate 7%
$5,010,443
$5.0M
Cap Rate 9%
$3,897,011
$3.9M
Market Conditions
NOI Build-Up for 16,045 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
$616.1K $38.40/SF
− Vacancy
−$148.5K −$9.25/SF
EGI
$467.6K $29.15/SF
− OpEx
−$116.9K −$7.29/SF
NOI
$350.7K $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 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%
$7,014,620
Cap Rate 7%
$5,010,443
Cap Rate 9%
$3,897,011
Alternative Uses
Best Use
Office B
$5.01M
$4.38M – $5.85M
NOI $350,731 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.59M
$7.52M – $10.02M
NOI $601,330 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
8,268
Businesses Nearby
Explore this area
Business Placement
Demographics for 90401, CA
8,167
Population
5,782
Households
1.4
Avg Household Size
39
Median Age
76%
College-Educated
97%
High-School Grad
0.8 sq mi
ZIP Area
10,209
Density / Sq Mi
$106,704
Median Household Income
$98,906
Median Earnings
$2,549
Median Rent
$1,129,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Fully leased property with flexible interiors, private rooms, open work areas, and a two-story entry.
Where is this creative space located?
The property is located at 903 Colorado Ave Santa Monica, CA.
What is the asking price?
The asking price for this property is $7,950,000.
What are key features of this property?
This property features: 16,045‑square‑foot creative space at 903 Colorado Ave, Santa Monica, CA 90401; Fully leased building with open work areas and private rooms; Steel windows, skylights, exposed wood ceilings, and polished concrete floors
