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Property profile & analytics
OFF-MARKET
Estimated value
$8,070,000
Office buildings
216 Pico Blvd, Santa Monica, CA 90405-1078
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-7380982
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1962
Construction
WOOD
Total area
5,390 SF
Lot
0.13 ac (5,613 SF)
Zoning code
SMC4*
APN
4289-019-023
UPID
US09-7380982
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
-
Woods Construction Construction Company
-
Aaron S. Ward, DC Alternative Medicine Practice
-
Transition State Interior Design Home Decor Store
-
Ocean Park Chiropractic Alternative Medicine Practice
-
Market Group Realty Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.54M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.07M
Owner & transaction history
Us 216 Pico Owner LLC · 5 yrs held
Us 216 Pico Owner LLC
since 2020
Last sale
$9.0M
7 recorded transactions
Zoning & alternative use
SMC4* · 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
$6,735,000
ML approach
$7,540,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$6,485,000
Current use
INDUSTRIAL (GENERAL)
$6,360,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$8.07M
Range $7.26M – $8.88M · ±10% · vs last sale $9.00M (Dec 30 2020)
Last sale anchor
$9.00M
Dec 30 2020
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
$1,497 / 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
$109,275
Tax year 2024
Assessed value
$9,363,600
Assessed 2024
Previous assessed
$9,363,600
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$9,259,560
Assessed improvement
$104,040
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 (MULTI-STORY)
Status
Off-Market
Year built
1962
Construction
WOOD
Heating
NONE
Stories
2
Total area
5,390 SF
Lot
0.13 ac (5,613 SF)
Zoning code
SMC4*
APN
4289-019-023
UPID
US09-7380982
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
SMC4* · Santa Monica, CA
Zoning SMC4* · permitted uses
SMC4* · 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
$6.5M
INDUSTRIAL (GENERAL)
Est. value
$6.4M
OFFICE BUILDING 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
1962
Construction
WOOD
Heating
NONE
Stories
2
Lot
0.13 ac
Current owner
From public records · entity-resolved
Us 216 Pico Owner LLC
Entity
Mailing address
12121 WILSHIRE BLVD STE #801, LOS ANGELES, CA 90025-1164
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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
Jun 17, 2025
—
Us 216 Pico Owner LLC
—
Deed
related
$77,990,000 · Kennedy Wilson Capital
Dec 30, 2020
$9,000,000
Us 216 Pico Owner LLC
Grt Santa Monica Two LLC
Grant Deed
—
Dec 21, 2016
—
Grt Santa Monica Two LLC
—
Deed
related
$2,840,000 · First Republic Bank
Jun 30, 2016
—
Claire Garabedian
Devian,francis T
Affidavit Of Death
—
Jun 30, 2016
$6,500,000
Grt Santa Monica Two LLC
Garabedian,claire
Grant Deed
—
Aug 27, 2014
—
Claire Garabedian
Devian F T Living Trust
Quit Claim Deed
related
—
Aug 13, 2014
—
Claire Garabedian
Devian,francis T
Affidavit Of Death
—
Aug 29, 2013
—
Devian,francis T Living Trust
Devian,francis T
Quit Claim Deed
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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