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Property profile & analytics
OFF-MARKET
Estimated value
$6,930,000
Turn key restaurants
2943 Main St Santa Monica, CA 90405
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-6875153
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1968
Construction
TILT-UP CONCRETE
Total area
3,532 SF
Lot
0.11 ac (4,995 SF)
Zoning code
SMCM2*
APN
4288-004-026
UPID
US09-6875153
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.72M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.93M
Owner & transaction history
Tmec Santa Monica INC · 1 yrs held
Tmec Santa Monica INC
since 2025
Last sale
$7.2M
7 recorded transactions
Zoning & alternative use
SMCM2* · Santa Monica, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.3M
+84.8%
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
$6,600,000
ML approach
$6,715,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,250,000
Change: +85% · Conversion: Moderate
Blend value · Realmo final
$6.93M
Range $6.24M – $7.62M · ±10% · vs last sale $7.20M (Mar 4 2025)
Last sale anchor
$7.20M
Mar 4 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
$1,962 / 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
$63,541
Tax year 2024
Assessed value
$5,361,007
Assessed 2024
Previous assessed
$5,361,007
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$4,154,781
Assessed improvement
$1,206,226
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
1968
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
3,532 SF
Lot
0.11 ac (4,995 SF)
Zoning code
SMCM2*
APN
4288-004-026
UPID
US09-6875153
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
SMCM2* · Santa Monica, CA
Zoning SMCM2* · permitted uses
SMCM2* · 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
Est. value
$4.3M
OFFICE BUILDING
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
1968
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Tmec Santa Monica INC
Entity
Free & Clear · 1 yrs held
Mailing address
3928 VAN BUREN PL, CULVER CITY, CA 90232-2826
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 4, 2025
$7,200,000
Tmec Santa Monica INC
Mollica Property Investments LLC
Grant Deed
—
Aug 9, 2019
$27,272,727
Mollica Prop Invs LLC
American Coml Equities Three
Grant Deed
—
Jul 7, 2006
$4,900,000
American Coml Equities Three
La Bar Land Rental
Grant Deed
—
Sep 3, 2004
$3,000,000
La Bar Land Rental
Ohtd Capital I Trust
Grant Deed
$1,650,000 · East West Bank
Sep 3, 2004
—
Ohtd Capital I Trust
San Diego Land Investments
Grant Deed
related
—
—
—
American Coml Equities Three
—
Deed Of Trust
related
$12,244,000 · Lincoln National Life Ins
—
—
San Diego Land Investments
—
Deed Of Trust
related
$800,000 · First Federal Bank Ca
—
—
San Diego Land Investments
—
Deed Of Trust
related
$500,000 · First Federal Bank Ca
Apr 28, 1964
—
—
—
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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