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Property profile & analytics
FOR LEASE
Retail space

1231 3Rd Street Promenade Santa Monica, CA 90401

30,660 SF 0.24 ac lot Built 1962
Entity Owned 2-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US10-0312429
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1962
Construction CONCRETE
Total area 30,660 SF
Lot 0.24 ac (10,519 SF)
Zoning code SMBSC1*
APN 4291-003-014
UPID US10-0312429
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
  • Couplet Coffee Pop Up Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$8.21M
CAP Approach CAP
$10.44M
Comparable Approach Comparable
$5.37M
Blend (final) Blend
$7.57M
Owner & transaction history
United El Segundo INC · 2 yrs held
United El Segundo INC
since 2023
Last sale
$7.3M
7 recorded transactions
2023
$7.3M
2020
Price N/A
2017
$30.3M
2001
Price N/A
1997
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
SMBSC1* · Santa Monica, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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