Santa Monica Retail
For Sale
Contact for pricing
1415 Wilshire Blvd, Santa Monica, CA 90403
Retail property in high-traffic area, ideal for owner-user.
Property Size4,878 SF
Lot Size0.11 Acres
Price / SF$768.76
Days on Market1165
Property Features for 1415 Wilshire Blvd
General Information
Standard status
Active
Size
4,878 SF
Lot size
0.11 Acres
Property subtype
Retail
Zoning
MUB (Mixed-Use Boulevard)
Investment Type
Owner/User
Building Details
Year Built
1930
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
WESTMAC
Listed By:
Woody Cook · License #02072494
(310) 966-4383
Source:
Crexi
Added: Jun 26, 2023
Changed: Aug 16
Last Checked: Sep 1 at 1:38AM
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
Investment Insights
Based on property information with market context.
Located on Wilshire Boulevard in Santa Monica, California, this retail property offers an opportunity for acquisition or lease. The property is situated along a highly trafficked section of Wilshire Boulevard, just east of 14th Street, approximately one mile from Downtown Santa Monica and twenty minutes from Los Angeles International Airport. Constructed in 1930, the building encompasses approximately 4,878 square feet on a lot of approximately 5,000 square feet. The property is zoned MUB (Mixed Use Boulevard) within the Wilshire-Montana neighborhood, an affluent and densely populated area with an estimated median household income of $113,000 within a one-mile radius and average home values exceeding $1 million. The location is within walking distance of retailers such as Vons, Rite Aid, and Bank of America, as well as Santa Monica UCLA Hospital. It is also a 14-minute walk (0.6 mi.) from the Metro E Line (Expo) at the 17th Street / SMC Station stop and features a Walk Score of 92, indicating a Walker’s Paradise. The property will be delivered vacant, presenting an opportunity for an owner-user or operator to establish a presence in Santa Monica.
Key Highlights
- Delivered vacant, offering an excellent opportunity for an owner‑user or operator.
- Located in the highly affluent Wilshire‑Montana neighborhood with high median household income.
- Prime location on highly trafficked Wilshire Boulevard.
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
$107,924
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
2.88%
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%
$2,158,480
$2.2M
Cap Rate 7%
$1,541,771
$1.5M
Cap Rate 9%
$1,199,156
$1.2M
Market Conditions
NOI Build-Up for 4,878 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
$165.1K $33.84/SF
− Vacancy
−$10.9K −$2.23/SF
EGI
$154.2K $31.61/SF
− OpEx
−$46.3K −$9.48/SF
NOI
$107.9K $22.12/SF
Area
Los Angeles County, CA
Vacancy
6.60%
Lease Rate
$33.84 /SF/Yr
Expense Ratio
30.00%
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%
$2,158,480
Cap Rate 7%
$1,541,771
Cap Rate 9%
$1,199,156
Alternative Uses
Best Use
Retail
$1.54M
$1.35M – $1.80M
NOI $107,924 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.61M
$2.29M – $3.05M
NOI $182,816 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,924
Businesses Nearby
206k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 29%
Dining 27%
Groceries 20%
Superstores 18%
Target
Superstores
36,047 visits/mo
0.2 miles
VONS
Groceries
34,674 visits/mo
0.1 miles
Wendy's
Dining
14,275 visits/mo
0.5 miles
Chevron
Shops & Services
11,759 visits/mo
0.3 miles
Taco Bell
Dining
10,578 visits/mo
0.3 miles
Demographics for 90403, CA
25,278
Population
14,853
Households
1.7
Avg Household Size
42
Median Age
72%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
18,056
Density / Sq Mi
$121,512
Median Household Income
$82,557
Median Earnings
$2,443
Median Rent
$1,553,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail property in high-traffic area, ideal for owner-user.
Where is this storefront property located?
The property is located at 1415 Wilshire Blvd Santa Monica, CA.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Delivered vacant, offering an excellent opportunity for an owner‑user or operator.; Located in the highly affluent Wilshire‑Montana neighborhood with high median household income.; Prime location on highly trafficked Wilshire Boulevard.
