Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2116 Pico Blvd Santa Monica, CA 90405-1718

    • Investment properties
    • 897 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Dec 16, 2024
    Value Estimations
    $330,000
    Show details
    Cap Rate Potential
    4.8%
    Investment properties
    Location Intelligence
    Property ID
    US09-6993592
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Iglesia Ni Cristo - Local Congregation of Santa Monica / Place Of Worship
    • Living Room to Ballroom / Dance School / Wedding Service
    • Capoeira Besouro / Dance School / Martial Arts School

    Property Details for 2116 Pico Blvd

    Year built
    1956
    Construction
    TILT-UP CONCRETE
    Lot size
    0.10 lot acres
    Property size
    897 SF
    Zone code
    SMC4*
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    4273-004-004
    APU
    4273004004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $305,000
      6.5%
      $280,000
      7%
      $260,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Monica
    County
    Los Angeles
    State
    California
    Longitude
    -118.468
    Latitude
    34.0201
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $22,061
    $1,591,812
    $238,771
    $1,830,583
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $215,000
      3,961 SF

      2727 Main St

      STORE/OFFICE (MIXED USE) • 3,961 SF
      2727 Main St, Santa Monica, CA 90405-4064
      View Details
    • Value Estimation
      $275,000
      2,920 SF

      3019 Pico Blvd

      STORE/OFFICE (MIXED USE) • 2,920 SF
      3019 Pico Blvd, Santa Monica, CA 90405-2079
      View Details
    • Value Estimation
      $840,000
      120,695 SF

      3420 Ocean Park Blvd

      STORE/OFFICE (MIXED USE) • 120,695 SF
      3420 Ocean Park Blvd, Santa Monica, CA 90405-3304
      View Details
    • Value Estimation
      $8,050,000
      11,475 SF

      2665 Main St

      STORE/OFFICE (MIXED USE) • 11,475 SF
      2665 Main St, Santa Monica, CA 90405-4000
      View Details
    • Value Estimation
      $435,000
      7,410 SF

      2210 Main St

      STORE/OFFICE (MIXED USE) • 7,410 SF
      2210 Main St, Santa Monica, CA 90405-2275
      View Details
    • Value Estimation
      $225,000
      4,600 SF

      3101 Pico Blvd

      STORE/OFFICE (MIXED USE) • 4,600 SF
      3101 Pico Blvd, Santa Monica, CA 90405-2005
      View Details

    Similar Nearby for Sale

    • $10,395,000
      16,188 SF

      Santa Monica Live/Work Masterpiece

      Three-story building with office, residential, and parking spaces.
      2224 Main St, Santa Monica, CA 90405
      View Details
    • $1,999,000
      3,690 SF

      Santa Monica Retail Center

      Prime Pico Blvd location, 3,690 SF, high income potential.
      3307 Pico Blvd, Santa Monica, CA 90405
      View Details
    • $1,250,000
      1,328 SF

      Ocean Park Tri-Level Townhouse

      Beautifully designed tri-level townhouse in coveted Ocean Park neighborhood.
      631 Strand St, Santa Monica, CA 90405
      View Details
    • $1,999,000

      Santa Monica Property for Sale

      Santa Monica property available for sale.
      2248 20Th St, Santa Monica, CA 90405
      View Details
    • $21,950,000

      Landmark Art Deco Building

      Three-story building in the heart of Silicon Beach.
      2525 Main St, Santa Monica, CA 90405
      View Details
    • $1,095,000
      0.07 Acres

      Land in Prime Santa Monica

      Rare 3,000 sqft lot in a vibrant community.
      Dewey Pl, Santa Monica, CA 90405
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,596 SF

      Creative Office Space Available

      Plug-and-play creative office space for rent.
      2218 Main St, Santa Monica, CA 90405
      View Details
    • Contact for pricing
      44,930 SF

      Ocean Park Blvd Office Space

      Third floor office space available for rent in Santa Monica.
      3100 Ocean Park Blvd, Santa Monica, CA 90405
      View Details
    • $3 SF/Yr
      23,736 SF

      Retail Space in Santa Monica

      Retail space in a prominent shopping center near the beach.
      1910 Lincoln Blvd, Santa Monica, CA 90405
      View Details
    • Contact for pricing
      10,090 SF

      Santa Monica Ground Floor Office

      Ground floor office space available for rent in Santa Monica.
      3200 Ocean Park Blvd, Santa Monica, CA 90405
      View Details
    • $5 SF/Yr
      3,782 SF

      Santa Monica Office Space Available

      Office space for rent in Santa Monica with full kitchen.
      3205 Pico Blvd, Santa Monica, CA 90405
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2116 Pico Blvd
    Santa Monica, CA 90405-1718
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.