Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1016 Montana Ave Santa Monica, CA 90403-1604

    • Office buildings
    • 1,104 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Feb 12, 2024
    $925,000
    Value Estimations
    $925,000
    Show details
    Cap Rate Potential
    2.8%
    Office buildings
    Location Intelligence
    Property ID
    US09-9678393
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Farrow & Ball Santa Monica Showroom / Paint Store / Wallpaper Store

    Property Details for 1016 Montana Ave

    Year built
    1948
    Construction
    TILT-UP CONCRETE
    Lot size
    0.05 lot acres
    Property size
    1,104 SF
    Zone code
    SMC2*
    Property type
    Office buildings
    APN
    4281-024-026
    APU
    4281024026

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $925,000
      ML approach
      $925,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,330,000
      Current use
      RETAIL STORES
      $1,165,000
      Change: -12% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Monica
    County
    Los Angeles
    State
    California
    Longitude
    -118.498
    Latitude
    34.0292
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $15,937
    $709,959
    $603,463
    $1,313,422
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,490,000
      5,673 SF

      901 Montana Ave

      OFFICE BUILDING • 5,673 SF
      901 Montana Ave, Santa Monica, CA 90403-1544
      View Details
    • Value Estimation
      $1,285,000
      7,757 SF

      1200 Wilshire Blvd

      OFFICE BUILDING • 7,757 SF
      1200 Wilshire Blvd, Santa Monica, CA 90403-5407
      View Details
    • Value Estimation by Request
      3,837 SF

      2515 Wilshire Blvd

      PROFESSIONAL BUILDING • 3,837 SF
      2515 Wilshire Blvd, Santa Monica, CA 90403-4615
      View Details
    • Value Estimation
      $5,685,000
      22,156 SF

      1137 2nd St

      PROFESSIONAL BUILDING • 22,156 SF
      1137 2nd St, Santa Monica, CA 90403-5011
      View Details
    • Value Estimation
      $26,275,000
      103,143 SF

      2811 Wilshire Blvd

      OFFICE BUILDING • 103,143 SF
      2811 Wilshire Blvd, Santa Monica, CA 90403-4803
      View Details
    • Value Estimation
      $795,000
      3,762 SF

      2421 Wilshire Blvd

      PROFESSIONAL BUILDING (MULTI-STORY) • 3,762 SF
      2421 Wilshire Blvd, Santa Monica, CA 90403-5805
      View Details

    Similar Nearby for Sale

    • $3,500,000
      4,878 SF

      Santa Monica Storefront - $3.5M

      Prime Santa Monica retail, owner-user opportunity.
      1415 Wilshire Blvd, Santa Monica, CA 90403
      View Details
    • $3,500,000

      Santa Monica Property For Sale

      Santa Monica property available for sale.
      1118 9Th St, Santa Monica, CA 90403
      View Details
    • $3,800,000

      Santa Monica Multifamily Investment Opportunity

      10-unit apartment building in prime Santa Monica location.
      1050 12Th St, Santa Monica, CA 90403
      View Details
    • $3,178,880

      Santa Monica Specialty Property

      Specialty property available for sale in Santa Monica.
      833 15Th St, Santa Monica, CA 90403
      View Details
    • $1,189,000
      1,317 SF

      Santa Monica Townhouse Near Montana

      Two-story townhouse in prime Santa Monica location near Montana Avenue.
      925 14Th St, Santa Monica, CA 90403
      View Details
    • $3,750,000
      4,878 SF

      Retail Property on Wilshire Boulevard

      Retail property available for sale on Wilshire Boulevard.
      1415 Wilshire Blvd, Santa Monica, CA 90403
      View Details

    Similar Nearby for Lease

    • $10,395 /Mo

      Prime Santa Monica Retail/Office Space

      Class A building with parking in prestigious Santa Monica location.
      2401-2415 Wilshire Blvd, Santa Monica, CA 90403
      View Details
    • $4 SF/Yr
      2,192 SF

      Santa Monica Office Space Available

      Office space featuring a conference room, kitchen, and open bullpen.
      3130 Wilshire Blvd, Santa Monica, CA 90403
      View Details
    • $78 SF/Yr
      18,206 SF

      Prime Santa Monica Office Space

      18,206 SF Medical/Creative Office
      1314 Wilshire Blvd, Santa Monica, CA 90403
      View Details
    • Contact for pricing
      32,450 SF

      Wilshire Blvd Therapy Office Suites

      Therapy office suites available in Santa Monica with ample parking.
      3201 Wilshire Blvd, Santa Monica, CA 90403
      View Details
    • Contact for pricing

      High Visibility Wilshire Boulevard Location

      Landmark location with high ceilings and strong retail presence.
      1314 Wilshire Blvd, Santa Monica, CA 90403
      View Details
    • Contact for pricing
      36,944 SF

      Prime Santa Monica Medical Office Space

      Exceptional medical office suites, various sizes available.
      1801 Wilshire Blvd, Santa Monica, CA 90403
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1016 Montana Ave
    Santa Monica, CA 90403-1604
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.