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    2716 Ocean Park Blvd Santa Monica, CA 90405

    Sponsored
    For Lease
    $42 SF/Yr

    Prime Medical & Office Suites in Santa Monica

    Lot size:
    101,440 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional Santa Monica office property, located at 2716 Ocean Park Blvd, 90405, offers a diverse range of flexible spaces ideal for medical practices and traditional office businesses. The building boasts a total of 101,440 square feet, with multiple tenancy options available. Currently, there is 24,067 square feet of vacant space ready for immediate occupancy. Units range in size from a minimum of 870 square feet to a maximum contiguous space of 5,923 square feet, providing ample opportunity for businesses of various scales. The building's prime location in Santa Monica, California offers excellent visibility and accessibility, making it an attractive option for businesses seeking a thriving and convenient location. The property's dual suitability for both medical and traditional office uses provides a unique advantage, catering to a wider range of potential tenants. This presents a rare opportunity to secure high-quality office space in a highly sought-after area. The building's design and layout are conducive to a variety of business needs, ensuring a comfortable and productive work environment. With its strategic location and versatile space options, this property represents a compelling investment opportunity in the heart of Santa Monica. Contact us today to schedule a viewing and explore the possibilities.

    Property Features for 2716 Ocean Park Blvd

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    101,440 SF
    Total Rate
    355040

    Unit(s) available at that property

    Space
    Suite 1020
    Size
    1,526 SF
    Rate per SF
    $42
    Space
    Suite 1064
    Size
    2,273 SF
    Rate per SF
    $42
    Space
    Suite 2006
    Size
    1,160 SF
    Rate per SF
    $42
    Space
    Suite 2009
    Size
    870 SF
    Rate per SF
    $42
    Space
    Suite 2015
    Size
    1,571 SF
    Rate per SF
    $42
    Space
    Suite 2020
    Size
    5,923 SF
    Rate per SF
    $42
    Space
    Suite 3000
    Size
    2,163 SF
    Rate per SF
    $42
    Space
    Suite 1009
    Size
    1,149 SF
    Rate per SF
    $42
    Space
    Suite 3020
    Size
    4,918 SF
    Rate per SF
    $42
    Space
    Suite 1030
    Size
    3,472 SF
    Rate per SF
    $42

    HighLights

    • 101,440 square foot Santa Monica office building at 2716 Ocean Park Blvd, 90405.
    • 24,067 square feet of immediately available space.
    • Suites range from 870 to 5,923 contiguous square feet.
    • On‑site management by Watt Companies.
    • Ample surface parking with EV charging stations.
    • Convenient walkability to restaurants, banks, health clubs, and other amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tracy Ng L.Ac., ... Acupuncture Clinic Mobolize Software Company Assessment & Psychological Psychologist Moving Inward Therapy Psychotherapist Summer Myers, Art ... Psychotherapist

    Suggested Use

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

    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
    -118.4564566
    Latitude
    34.01845854

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    FAQs

    What type of property is this?
    Medical office - Prime Medical & Office Suites in Santa Monica
    Where is this medical office located?
    The property is located at 2716 Ocean Park Blvd Santa Monica, CA.
    What is the lease rate?
    The lease rate is $42 SF/Yr.
    What are key features of this property?
    This property features: 101,440 square foot Santa Monica office building at 2716 Ocean Park Blvd, 90405.; 24,067 square feet of immediately available space.; Suites range from 870 to 5,923 contiguous square feet.
    Request Owner's contact information
    2716 Ocean Park Blvd Santa Monica, CA 90405
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    Santa Monica, CA 90405
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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.

    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
    2716 Ocean Park Blvd Santa Monica, CA 90405
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