1231 3Rd Street Promenade Santa Monica, CA 90401
- Retail space
- 30,660 SF
- 0.24 lot acres
Current Use by Public Records
- Couplet Coffee Pop Up / Coffee Shop
Property Details for 1231 3Rd Street Promenade
- Year built
- 1962
- Construction
- CONCRETE
- Lot size
- 0.24 lot acres
- Property size
- 30,660 SF
- Zone code
- SMBSC1*
- Property type
- Retail space
- APN
- 4291-003-014
- APU
- 4291003014
Description
This exceptional retail property, located at 1231 3rd Street Promenade in the vibrant city of Santa Monica, California, offers a unique opportunity for multiple businesses. The building boasts a total of 40,000 square feet, currently entirely vacant and available for lease. Each of the four suites offers a minimum of 10,000 contiguous square feet, ideal for a variety of uses, including gyms, offices, and restaurants, as indicated by the property's subtype designation. The property's location on the bustling 3rd Street Promenade guarantees high foot traffic and excellent visibility, making it an attractive location for businesses seeking maximum exposure. Situated in Los Angeles County, with a zip code of 90401, this property presents a rare chance to establish a presence in one of Southern California's most desirable retail destinations. The building's size and layout provide flexibility for tenants seeking a large, adaptable space. With its prime location and ample square footage, this property is poised for immediate occupancy and significant return on investment. Interested parties are encouraged to inquire for further details and leasing options. The property is ready for immediate occupancy. This is a multi-tenant property with a total of four suites.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $7,410,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $6,785,000
- 6.5%
- $7,950,000
- 7%
- $6,865,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $7,770,000
- Geo Method
- $8,210,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $6,090,000
- Retail
- $8,295,000
- Mixed-Use
- $7,625,000
- Hospitality
- $6,670,000
- Educational
- $8,530,000
- Residential Income
- $6,080,000
- Energy
- $6,475,000
- Income-Based Land
- $7,245,000
- Food Service
- $7,370,000
Location Insight
- Map
- Local Demand
- City
- Santa Monica
- County
- Los Angeles
- State
- California
- Longitude
- -118.498
- Latitude
- 34.0178
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
