Entity Owned 
For Lease
1 / 39
$3,320,000
1020 Pico Blvd, Santa Monica, CA 90405
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Property summary
AI-generated overview
This exceptional 6,317-square-foot creative office space at 1020 Pico Boulevard in Santa Monica, California, presents a unique opportunity. Located in Los Angeles County, this single-tenant building boasts a prime location, just minutes from the beach, the vibrant Third Street Promenade, and Santa Monica's Media District. The property, with APN 4284-016-004, is zoned C4 and features a Class B designation. Originally constructed in 1948, it underwent a complete renovation in 2019, resulting in a modern and stylish workspace. The single-story building offers ample natural light and exposed ceilings, hallmarks of a creative office environment. Security is ensured with a gated entry. Parking is convenient with six spaces available on-site. The building's proximity to major transportation arteries, including the Santa Monica (10) Freeway and Pacific Coast Highway (1), as well as the Downtown Santa Monica Expo Station, provides easy access for employees and clients. This freestanding building offers 6,317 square feet of completely vacant space, ready for immediate occupancy. The property's combination of location, modern amenities, and ample space makes it an ideal choice for a discerning business seeking a prestigious Santa Monica address. The zip code is 90405.
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1948
Construction
WOOD
Total area
4,558 SF
Lot
0.14 ac (5,963 SF)
Zoning code
SMC4*
APN
4284-016-004
UPID
US09-6368526
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Social Service Agency Medical Clinic
-
Foster Care Service Social Service Agency
-
Foster Care Service Social Service Agency
-
Grocery & Convenience Store Food Market
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.48M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.32M
Owner & transaction history
since 2021
Last sale
$3.3M
7 recorded transactions
Zoning & alternative use
SMC4* · Santa Monica, CA
Top alternative use upside
Office building
$5.5M
+58.1%
Retail stores
$3.8M
+9.8%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 15 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.32M
Value range
$2.99M – $3.65M
±10% around blend
Estimated value / SF
$728 / SF
Confidence
High
15 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
100
Income certainty
100
$2.99M
blend $3.32M
$3.65M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,558 SF
Lot area
0.14 ac
Year built
1948
APN
4284-016-004
Zoning
SMC4*
Assessed value
$4,350,952
Annual tax
$51,485
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$51,485
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$3.37M
Weighted, 15 comps · high confidence
Evidence
15 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.8 mi away · 3,293 SF
3.3 mi away · 3,960 SF
3.4 mi away · 3,881 SF
4.0 mi away · 4,225 SF
4.5 mi away · 5,682 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.32M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 32 sales
$761
-4%
County 2504 sales
$309
+136%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $728/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+58%
vs current-use indication
Retail Stores
Commercial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 15 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
Selected market yield
2.80%
Selected cap rate for this investment properties
Derived from the Santa Monica market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$140k *
Last sale · May 2021
$3.28M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.99M
Move the market yield to see immediate price impact.
Value / SF
$1,095
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.30%2.80%3.30%
$126k
$5.47M
$4.49M
$3.81M
$140k
$6.08M
$4.99M
$4.24M
$154k
$6.68M
$5.49M
$4.66M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
15 found
High confidence · county-verified
Closest comparable
$5.00M
0.3 mi · Mar 2026 · $995/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$51,485
Tax year 2024
Assessed value
$4,350,952
Assessed 2024
Previous assessed
$4,350,952
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$4,032,590
Assessed improvement
$318,362
Applied tax rate
8.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
For Lease
Year built
1948
Construction
WOOD
Heating
NONE
Bathrooms
1
Total area
4,558 SF
Lot
0.14 ac (5,963 SF)
Zoning code
SMC4*
APN
4284-016-004
UPID
US09-6368526
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
SMC4* · Santa Monica, CAZoning SMC4* · permitted uses
SMC4* · Santa Monica, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1948
Construction
WOOD
Heating
NONE
Bathrooms
1
Lot
0.14 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
SMC4*
Jurisdiction
Santa Monica, CA
Recorded code
SMC4*
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for SMC4* in Santa Monica, CA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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