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Property profile & analytics
OFF-MARKET
Estimated value
$15,440,000
Retail space
1343 3rd St Promenade Santa Monica, CA 90401-1309
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US10-0312234
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1926
Construction
TILT-UP CONCRETE
Total area
19,094 SF
Lot
0.34 ac (14,998 SF)
Zoning code
SMBSC1*
APN
4291-012-012
UPID
US10-0312234
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
-
Dodgers Clubhouse (Bike/Boat/Book/etc) Store
-
innisfree Cosmetic Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$15.44M
Owner & transaction history
Gmre Promenade LLC · 2 yrs held
Gmre Promenade LLC
since 2023
Last sale
$17.2M
7 recorded transactions
Zoning & alternative use
SMBSC1* · Santa Monica, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$22.5M
+11.8%
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
$17,420,000
ML approach
$9,435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$20,140,000
Current use
INDUSTRIAL (GENERAL)
$22,525,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$15.44M
Range $13.90M – $16.98M · ±10% · vs last sale $17.20M (Nov 2 2023)
Last sale anchor
$17.20M
Nov 2 2023
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
$809 / 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
$153,803
Tax year 2024
Assessed value
$11,238,253
Assessed 2024
Previous assessed
$11,238,253
+0.0% YoY
Effective rate
1.37%
On assessed value
Assessed land
$8,334,959
Assessed improvement
$2,903,294
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
1926
Construction
TILT-UP CONCRETE
Heating
NONE
Buildings
3
Stories
1
Total area
19,094 SF
Lot
0.34 ac (14,998 SF)
Zoning code
SMBSC1*
APN
4291-012-012
UPID
US10-0312234
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
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$20.1M
INDUSTRIAL (GENERAL)
Est. value
$22.5M
RETAIL STORES Current
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1926
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Buildings
3
Lot
0.34 ac
Current owner
From public records · entity-resolved
Gmre Promenade LLC
Entity
Free & Clear · 2 yrs held
Mailing address
530 S LK AVEPMB598, PASADENA, CA 91101-3515
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 15, 2025
—
Gmre Promenade LLC
—
Deed
related
$17,000,000 · Morgan Stanley Bank NA
Nov 2, 2023
$17,200,000
Gmre Promenade LLC
Street Retail West I LP
Grant Deed
—
Dec 31, 1996
—
Street Retail West I LP
C I M Group LLC
Grant Deed
related
—
May 4, 1995
$4,200,000
C I M Group LLC
Plaza Promenade LP
Trustees Deed
$2,300,000 · Santa Monica Bank
Feb 2, 1988
$1,500,000
Promenade Plaza
Britt
Trustees Deed
$900,000 · Santa Monica Bank
Feb 2, 1988
—
Emil J Britt
Britt
Quit Claim Deed
related
—
—
—
C I M Group LLC
—
Deed Of Trust
related
$600,000 · Plaza Promenade LP
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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