700-716 Colorado Ave Santa Monica, CA 90401
- Office Properties & Spaces
- 20,139 SF
Current Use by Public Records
- Office Properties & Spaces
Property Details for 700-716 Colorado Ave
- Year built
- 1962
- Property size
- 20,139 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Office space
Description
This exceptional redevelopment opportunity encompasses two buildings totaling approximately 20,348 square feet on a 20,165 square foot lot in the heart of Santa Monica, CA (APN: 4290-001-016). Located on Colorado Avenue, blocks from the Third Street Promenade, this property offers unparalleled walkability and convenient access to public transportation, including the Metro Expo Line, Pacific Coast Highway, and the 10 Freeway. The property is zoned under Santa Monica's Transit Adjacent (TA) district, part of the Downtown Community Plan, allowing for significant development potential. With a 4:1 FAR (for Tier 3 with Housing), a possible 7-story height allowance, and potential for up to 101 units, this site presents a unique chance for a mixed-use development. The existing buildings, featuring a mix of concrete tilt-up and masonry construction, offer approximately 10,836 and 9,512 square feet respectively, and provide a flexible framework for various uses, including creative office space, sound stages, production facilities, or R&D with showroom capabilities. A city-approved renovation plan includes a mezzanine addition at 700 Colorado Avenue, creating a large, two-level creative office suite with 14' and 28' ceilings, street-level retail space, steel-framed operable windows, and a private rooftop deck. The property includes approximately 20-25 parking spaces (buyer to verify). Built in 1962, the buildings feature a ground floor concrete slab, upper floors with wood framing, and wood-framed roofs. Exterior walls are brick masonry and stucco, with built-up cap sheet roofing over the two-story portion. Steel-framed glass entry doors and steel windows with operable sections complete the existing structure. This is a rare opportunity to acquire a property in one of the world's most dynamic office and content creation markets.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Santa Monica
- County
- Los Angeles
- State
- California
- Longitude
- -118.489
- Latitude
- 34.0161
