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Property profile & analytics
OFF-MARKET
Estimated value
$3,865,000
Investment properties
1351 3rd St Promenade 53 Santa Monica, CA 90401-1385
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6998485
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1914
Construction
TILT-UP CONCRETE
Total area
18,113 SF
Lot
0.18 ac (7,660 SF)
Zoning code
SMBSC1*
APN
4291-012-011
UPID
US09-6998485
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
-
Steven R Landaal, Attorney at Law Law Firm
-
Board Up Services INC Construction Company General Contractor
-
2Heads Advertising Agency Marketing & Advertising
-
Catalyst Life Sciences Employment Agency
-
Elite Whirlpool Repair Santa Monica Home Appliance Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.87M
Owner & transaction history
The 1351 Building LP · 19 yrs held
The 1351 Building LP
since 2006
4 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
$213 / 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
$46,327
Tax year 2024
Assessed value
$2,210,675
Assessed 2024
Previous assessed
$2,210,675
+0.0% YoY
Effective rate
2.10%
On assessed value
Assessed land
$941,677
Assessed improvement
$1,268,998
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1914
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Units
8
Total area
18,113 SF
Lot
0.18 ac (7,660 SF)
Zoning code
SMBSC1*
APN
4291-012-011
UPID
US09-6998485
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
SMBSC1* · Santa Monica, CA
Zoning 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
Santa Monica. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1914
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Units
8
Lot
0.18 ac
Current owner
From public records · entity-resolved
The 1351 Building LP
Entity
Mailing address
1428 2ND ST STE #100, SANTA MONICA, CA 90401-2367
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2006
—
The 1351 Building LP
The 1351 Building LP
Grant Deed
related
$1,146,000 · Pacific Western Bank
—
—
1351 Building LP
—
Deed Of Trust
related
$1,530,000 · Bank Of California
—
—
1351 Santa Monica Mall
—
Deed Of Trust
related
$107,500 · Us Small Business Admn
—
—
1351 Building LP
—
Loan Modification
related
$1,800,000 · Pacific Wstrn Bk
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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