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Property profile & analytics
OFF-MARKET
Estimated value
$6,335,000
Office buildings
1832 Franklin St, Santa Monica, CA 90404-4210
Individually Owned
Absentee Owner
~
Est. High Equity
Property ID
US09-7889764
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1951
Construction
WOOD
Total area
7,674 SF
Lot
0.41 ac (17,921 SF)
Zoning code
SMLMSD*
APN
4268-011-006
UPID
US09-7889764
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
-
Beck Media & Marketing Marketing & Advertising Advertising Agency
-
WonderHowTo Car Dealership Car Wash
-
Beck Media Media Distribution
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.34M
Owner & transaction history
New Roads School
New Roads School
since 2025
Last sale
$5.5M
7 recorded transactions
Zoning & alternative use
SMLMSD* · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,230,000
Current use
INDUSTRIAL (GENERAL)
$9,055,000
Change: -2% · Conversion: Difficult
RETAIL STORES
$8,095,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$6.34M
Range $5.70M – $6.97M · ±10% · vs last sale $5.50M (Jul 24 2025)
Last sale anchor
$5.50M
Jul 24 2025
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
$826 / 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
$154,117
Tax year 2024
Assessed value
$13,158,979
Assessed 2024
Previous assessed
$13,158,979
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$12,734,496
Assessed improvement
$424,483
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1951
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Total area
7,674 SF
Lot
0.41 ac (17,921 SF)
Zoning code
SMLMSD*
APN
4268-011-006
UPID
US09-7889764
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
SMLMSD* · Santa Monica, CA
Zoning SMLMSD* · permitted uses
SMLMSD* · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$9.2M
INDUSTRIAL (GENERAL)
Est. value
$9.1M
RETAIL STORES
Est. value
$8.1M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
RETAIL STORES
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
1951
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
New Roads School
Individual
Mailing address
2341 MICHIGAN AVE, LOS ANGELES, CA 90033-2910
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 24, 2025
$5,500,000
New Roads School
3122 Nebraska Owner LLC
Grant Deed
$22,700,000 · Columbia Bank
Oct 24, 2025
—
Columbia Bank
California Enterprise Dev Authority
Deed
—
Sep 17, 2025
$11,500,000
Civicap 3122 Nebraska LLC
3122 Nebraska Owner LLC
Grant Deed
$25,000,000 · Northeast Bank
Apr 9, 2024
—
3122 Nebraska Owner LLC
—
Deed
related
$13,000,000 · Lone Oak Fund LLC
Dec 15, 2020
$12,900,000
3122 Nebraska Owner LLC
Chao 2000 Trust
Grant Deed
$11,000,000 · First Republic Bk
Mar 19, 2003
—
Stephen Chao
Chao,stephen & Irina A
Quit Claim Deed
related
—
Apr 28, 1995
$700,000
Chao Trust
Santa Monica Bank
Grant Deed
$574,750 · Santa Monica Bank
Dec 30, 1994
—
Santa Monica Bank
—
Deed Of Trust
related
—
Dec 5, 1972
$72,000
—
—
Grant Deed
related
—
—
—
Ron Mcintosh & Assoc INC
—
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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