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Property profile & analytics
OFF-MARKET
Turn key restaurants
2909 Pico Blvd Santa Monica, CA 90405-2001
Individually Owned
14-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-0312085
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1940
Construction
WOOD
Total area
3,284 SF
Lot
0.06 ac (2,627 SF)
Zoning code
SMC4*
APN
4274-032-020
UPID
US10-0312085
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
-
2909 Pico Blvd Parking Parking Lot & Garage
-
Lares Restaurant
-
SMC High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Jesse P Lares · 14 yrs held
Jesse P Lares
since 2012
6 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$8,647
Tax year 2024
Assessed value
$665,050
Assessed 2024
Previous assessed
$665,050
+0.0% YoY
Effective rate
1.30%
On assessed value
Assessed land
$513,171
Assessed improvement
$151,879
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1940
Construction
WOOD
Heating
NONE
Stories
1
Total area
3,284 SF
Lot
0.06 ac (2,627 SF)
Zoning code
SMC4*
APN
4274-032-020
UPID
US10-0312085
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.
Building & site characteristics
From public records
Year built
1940
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Jesse P Lares
Individual
Mailing address
3631 SAWTELLE BLVD, LOS ANGELES, CA 90066-3417
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2012
—
Jesse P Lares
Jesse P Lares
Intrafamily Transfer
related
$580,000 · Us Bank NA
Feb 8, 2011
—
Lares Family Trust
Lares,jesse P & Rosa M
Quit Claim Deed
related
—
Nov 20, 2001
—
Jesse P Lares
Lares,a P
Quit Claim Deed
related
—
Nov 10, 1999
—
Jesse P Lares
—
Deed Of Trust
related
—
—
—
Jesse P Lares
—
Deed Of Trust
related
$436,000 · Santa Monica Bank
Dec 30, 1969
—
—
—
Grant 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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