1427 4th St Santa Monica, CA 90401-2308
- Retail space
- 25,838 SF
- 0.34 lot acres
Current Use by Public Records
- west elm / Furniture Store / Bedroom Furniture Store
- National Air Duct Cleaning Service / Air Duct Cleaning Service
- west elm Bedding / Water Damage Restoration Service / Building Restoration Service
Property Details for 1427 4th St
- Year built
- 1924
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.34 lot acres
- Property size
- 25,838 SF
- Zone code
- SMBSC3*
- Property type
- Retail space
- APN
- 4291-018-018
- APU
- 4291018018
Description
This exceptional investment opportunity presents a fee-simple ownership of a 24,705 square foot, two-story Class A storefront in Santa Monica, California. The property boasts a 100% occupancy rate with a 12-year lease (expiring in 2031) to West Elm, a subsidiary of Williams-Sonoma, Inc. (NYSE: WSM), a financially strong, publicly traded company with significant revenue and market capitalization. The lease is a single-tenant, net lease (NNN) with 3% annual rent increases, providing a strong hedge against inflation. Located on 0.38 acres at 1427 4th Street, the property benefits from high visibility and significant frontage in a densely populated, affluent area of Downtown Santa Monica, surrounded by other high-end retailers. The property's strong location within a core retail district, combined with the high creditworthiness of the tenant and the favorable lease terms, makes this a compelling investment opportunity with a current Net Operating Income (NOI) of $1,709,886 and a 5.75% cap rate. The area draws millions of visitors annually, and the property is situated near other prominent businesses, including Pottery Barn, Design Within Reach, and Nordstrom. The average household income within a 3-mile radius exceeds $184,000, reflecting the affluent nature of the surrounding community. This is a rare chance to acquire a core, credit-worthy single-tenant asset in a highly desirable and sought-after Los Angeles submarket. The asking price is $29,737,130.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $725,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,094,000
Market price range: $1.09M - $4.64M
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Location Insight
- Map
- Local Demand
- City
- Santa Monica
- County
- Los Angeles
- State
- California
- Longitude
- -118.494
- Latitude
- 34.0161
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
