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Property profile & analytics
OFF-MARKET
Estimated value
$1,605,000
Retail space
1242 3rd St Promenade Santa Monica, CA 90401-1319
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US09-6994303
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1948
Construction
STEEL FRAME
Total area
6,750 SF
Lot
0.17 ac (7,505 SF)
Zoning code
SMBSC1*
APN
4291-002-008
UPID
US09-6994303
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
-
Dr. Sherry Martyn, Ph.D. Physician Medical Clinic
-
Dr. Teresa L. Chung Physician Medical Clinic
-
Andrew T Karlin Law Offices Law Firm
-
Dr. Michelle Logvinsky, Psy.D. Physician Medical Clinic
-
DDG Home Improvement General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.61M
Owner & transaction history
Khedr Holdings Group LLC · 1 yrs held
Khedr Holdings Group LLC
since 2024
7 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$238 / 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
$27,465
Tax year 2024
Assessed value
$1,073,805
Assessed 2024
Previous assessed
$1,073,805
+0.0% YoY
Effective rate
2.56%
On assessed value
Assessed land
$780,957
Assessed improvement
$292,848
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 space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1948
Construction
STEEL FRAME
Heating
NONE
Stories
1
Total area
6,750 SF
Lot
0.17 ac (7,505 SF)
Zoning code
SMBSC1*
APN
4291-002-008
UPID
US09-6994303
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
1948
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Khedr Holdings Group LLC
Entity
Mailing address
1242 3RD ST PROMENADE ST STE #206, SANTA MONICA, CA 90401-1329
Mailing matches property
Yes
Owner-occupied
Yes
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 26, 2024
—
Khedr Holdings Group LLC
David Khedr
Deed
related
—
Sep 4, 2020
—
David Khedr
David Khedr
Intrafamily Transfer
related
$14,200,000 · Unify Financial FCU
Jul 29, 2015
—
Khedr Family Trust
David Khedr
Intrafamily Transfer
related
$15,000,000 · Wells Fargo Bank NA
Nov 17, 1999
—
Khedr,david & Odette Co-trustees
Khedr,d & O
Quit Claim Deed
related
—
—
—
David Khedr
—
Deed Of Trust
related
$1,200,000 · Prime Bank
—
—
Khedr Family Trust
—
Deed Of Trust
related
$10,100,000 · Reliastar Life Insurance Co
—
—
David Khedr
—
Deed Of Trust
related
$38,400 · Savers Thrift & Loan
—
—
Khedr Family Trust
—
Deed Of Trust
related
$7,400,000 · East West Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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