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    The Largest CRE Database in the US with Over 1 Million Listings

    2450 Colorado Ave Santa Monica, CA 90404

    Sponsored
    For Lease
    $22 SF/Yr

    Modern workspace, flexible options

    Lot size:
    69,208 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This Class A office building in Los Angeles County's Sawtelle district offers 69,208 square feet of versatile workspace. The property, renovated in 2019, features a variety of options including traditional office suites, executive offices, coworking spaces, and creative office layouts. Units range from a minimum of 50 square feet to a maximum contiguous space of 1,300 square feet, with a total of 350 suites. Currently, 5,650 square feet of space is vacant. The building is part of a 17-acre campus with water features and gardens, providing a unique and inspiring work environment. Amenities include elevators, 24-hour access (for select options), high-speed Wi-Fi, and on-site administrative support. The location offers convenient access to public transportation, including the Expo Line Metro, as well as numerous nearby restaurants, cafes, and other services such as childcare, a gym, dry cleaners, and a car wash. The building also provides meeting rooms and virtual office options. This property is ideal for businesses seeking flexible and modern office solutions in a vibrant and convenient location. Note that images shown may not reflect this specific location, and pricing is subject to change based on the selected space and services.

    Property Features for 2450 Colorado Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    69,208 SF
    Class
    A
    Total Rate
    131495.2

    Building Details

    Year Renovated
    2019

    Unit(s) available at that property

    Space
    Open plan office space for + 10 people
    Size
    1,184 SF
    Rate per SF
    $84
    Space
    All-inclusive access to professional off
    Size
    2,885 SF
    Rate per SF
    $536,292
    Space
    Coworking dedicated
    Size
    108 SF
    Rate per SF
    $27
    Space
    Private office for 2 people
    Size
    538 SF
    Rate per SF
    $110
    Space
    Big block
    Size
    770 SF
    Rate per SF
    $211
    Space
    Big block 4
    Size
    866 SF
    Rate per SF
    $232
    Space
    Coworking Non Reserve
    Size
    108 SF
    Rate per SF
    $22
    Space
    Private office for 4 people
    Size
    646 SF
    Rate per SF
    $93
    Space
    Private office for 5 people
    Size
    807 SF
    Rate per SF
    $81
    Space
    Open plan office space for + 15 people
    Size
    1,292 SF
    Rate per SF
    $56
    Space
    Private office for 1 person
    Size
    538 SF
    Rate per SF
    $72
    Space
    Big block 3
    Size
    778 SF
    Rate per SF
    $209
    Space
    Private office for 3 people
    Size
    646 SF
    Rate per SF
    $80
    Space
    Big block 2
    Size
    867 SF
    Rate per SF
    $232

    We can help!

    Listing Contact
    California 3 Spaces US
    California 3 Spaces US

    Learn more

    Property Insight Report

    HighLights

    • Class A office building totaling 69,208 square feet in Los Angeles County.
    • Multiple tenancy options available, with spaces ranging from 50 to 1,300 contiguous square feet.
    • Building features 350 suites, currently offering 5,650 square feet of vacant space.
    • Renovated in 2019 and equipped with elevators.
    • Offers various workspace solutions including private offices, coworking memberships, dedicated desks, meeting rooms, and virtual office services.
    Property Profile Location Intelligence

    Current Use by Public Records

    Strategic Options Real Estate Consultant Citrus Studios Website Designer Orange & Bergamot Website Designer Santa Monica Office Television Station Citaldel Media Marketing Agency

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Monica
    County
    Los Angeles
    State
    California
    Longitude
    -118.4721168
    Latitude
    34.0292694

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    FAQs

    What type of property is this?
    Office space - Modern workspace, flexible options
    Where is this office space located?
    The property is located at 2450 Colorado Ave Santa Monica, CA.
    What is the lease rate?
    The lease rate is $22-$536,292 SF/Yr.
    What are key features of this property?
    This property features: Class A office building totaling 69,208 square feet in Los Angeles County.; Multiple tenancy options available, with spaces ranging from 50 to 1,300 contiguous square feet.; Building features 350 suites, currently offering 5,650 square feet of vacant space.
    Request Owner's contact information
    2450 Colorado Ave Santa Monica, CA 90404
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    Santa Monica, CA 90404
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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.

    More about this property
    2450 Colorado Ave Santa Monica, CA 90404
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    We can help!
    Listing Contact
    California 3 Spaces US
    California 3 Spaces US
    Real Estate License ID: FLBO
    Learn more
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