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Property profile & analytics
OFF-MARKET
Estimated value
$20,000,000
Retail properties & Spaces
1202 3rd St Promenade Santa Monica, CA 90401-1308
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6998477
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1949
Construction
TILT-UP CONCRETE
Total area
44,936 SF
Lot
0.34 ac (15,023 SF)
Zoning code
SMBSC1*
APN
4291-002-001
UPID
US09-6998477
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
iCiBody Gym & Fitness Center
-
JOHN REED Fitness Gym & Fitness Center
-
1202 THIRD STREET PROMENADE Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$20.00M
CAP Approach
CAP
$15.30M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$20.00M
Owner & transaction history
United Xyz LLC · 2 yrs held
United Xyz LLC
since 2024
Last sale
$20.0M
5 recorded transactions
Zoning & alternative use
SMBSC1* · Santa Monica, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Santa Monica submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Monica submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$20,000,000
ML approach
$20,000,000
CAP Approach
CAP Return
Estimation
6%
$16,570,000
6.5%
$15,295,000
7%
$14,205,000
Blend value · Realmo final
$20.00M
Range $18.00M – $22.00M · ±10% · vs last sale $20.00M (Jun 6 2024)
Last sale anchor
$20.00M
Jun 6 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$445 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$242,617
Tax year 2024
Assessed value
$16,734,261
Assessed 2024
Previous assessed
$16,734,261
+0.0% YoY
Effective rate
1.45%
On assessed value
Assessed land
$4,311,299
Assessed improvement
$12,422,962
Applied tax rate
8.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1949
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
44,936 SF
Lot
0.34 ac (15,023 SF)
Zoning code
SMBSC1*
APN
4291-002-001
UPID
US09-6998477
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
SMBSC1* · Santa Monica, CAZoning SMBSC1* · permitted uses
SMBSC1* · Santa Monica, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1949
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
United Xyz LLC
Entity
Mailing address
2800 OLYMPIC BLVD, SANTA MONICA, CA 90404-4101
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2024
$20,000,000
United Xyz LLC
Street Retail West II LP
Grant Deed
$17,437,500 · Royal Bank Of Canada
Jun 16, 1993
—
Buffum,betty U Tr Et Al
—
Deed Of Trust
related
—
Nov 13, 1992
—
Josephine C Et Al Billings
—
Deed Of Trust
related
—
Jul 21, 1992
—
Upham Tr Et Al
—
Deed Of Trust
related
—
Aug 27, 1991
—
Upham David W
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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