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    Santa Monica Vacant Building Opportunity Title is generated by Realmo AI

    1804 Lincoln Blvd, Santa Monica, CA 90404

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    Vacant 5,012 SF building on 6,982 SF land for sale.

    Type:Office, Retail
    Property size:
    5,012 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $623/SF
    Added:
    Nov 5, 2024
    Days on Market:
    578
    Last Refresh:
    May 12 at 11:34 pm

    Property Features for 1804 Lincoln Blvd

    General Information

    Standard status
    Active
    Size
    5,012 SF
    Lot size
    0.16 Acres
    Property subtype
    Office, Retail

    Building Details

    Year Built
    1945

    We can help!

    Listing Contact
    T.C. Macker

    Listing agent T.C. Macker License #CA 01232033

    Listing office WESTMAC

    Listing date Nov 5, 2024

    Source Crexi

    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 WESTMAC

    HighLights

    • Prime Santa Monica location on Lincoln Boulevard corner, near Downtown and Ocean Park.
    • Excellent accessibility: one block from the 10 freeway and a half mile from the E Line Station.
    • High Walk Score (94) and Bike Score (92).
    • Vacant ±5,012 sq ft building in shell condition, ideal for customization.
    • Gated parking lot with space for approximately eight vehicles.
    • Close proximity to beach, Santa Monica College, and Venice.

    Overview

    The property at 1804 Lincoln Boulevard is a vacant single-story building with approximately 5,012 square feet of space on a lot of approximately 6,982 square feet. The building is in shell condition, offering an owner-user the opportunity to customize the space. A gated parking lot at the rear of the building provides space for approximately eight vehicles, supplemented by ample metered street parking. Situated on the signalized corner of Lincoln Boulevard and Michigan Avenue, the property is one block north of Pico Boulevard and one block from the 10 freeway, providing excellent accessibility. The E Line Station in Downtown Santa Monica is about a half mile away. The location boasts a Walk Score of 94 and a Bike Score of 92. It is less than a five-minute drive from both the beach and Santa Monica College. The property is located in the heart of Santa Monica, with Downtown to the north and Ocean Park to the south. Venice is approximately 10 minutes south, and Los Angeles International Airport is less than 30 minutes away.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

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

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

    Similar Places Nearby

    • BloomNation — 1316 3rd St Suite 301, Santa Monica, CA 90401
    • Anuheas Florist & Flower Delivery Santa Monica CA — 1305 2nd St, Santa Monica, CA 90401, United States
    • Bloom Boom — 500 Broadway #223, Santa Monica, CA 90401
    • Martha's Flowers — 1725 Ocean Ave, Santa Monica, CA 90401
    • Water Studio — Santa Monica, CA 90401

    Location Insight

    • Map
    • Local Demand
    City
    Santa Monica
    County
    Los Angeles
    State
    California
    Longitude
    -118.4848726
    Latitude
    34.0134576

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    FAQs

    What type of property is this?
    Storefront property - Vacant 5,012 SF building on 6,982 SF land for sale.
    Where is this storefront property located?
    The property is located at 1804 Lincoln Blvd Santa Monica, CA.
    What is the asking price?
    The asking price for this property is $3,125,000.
    What are key features of this property?
    This property features: Prime Santa Monica location on Lincoln Boulevard corner, near Downtown and Ocean Park.; Excellent accessibility: one block from the 10 freeway and a half mile from the E Line Station.; High Walk Score (94) and Bike Score (92).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    T.C. Macker
    Real Estate License ID: CA 01232033
    Request Owner's contact information
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    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.

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