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Property profile & analytics
OFF-MARKET
Estimated value
$18,635,000
Retail properties & Spaces
302 Colorado Ave Santa Monica, CA 90401-2318
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US10-0312222
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1947
Construction
TILT-UP CONCRETE
Total area
130,962 SF
Lot
3.12 ac (135,993 SF)
Zoning code
SMC3*
APN
4290-012-003
UPID
US10-0312222
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
-
Sci-Fi World Museum
-
The Mark 302 Parking Lot & Garage
-
Cole National Corporation Ophthalmologist (Bike/Boat/Book/etc) Store
-
Sears Appliance Repair Home Appliance Store
-
WE Drive-Ins Cinema Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.64M
Owner & transaction history
Mark 302 Property Owner LLC · 8 yrs held
Mark 302 Property Owner LLC
since 2018
5 recorded transactions
Zoning & alternative use
SMC3* · 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
$142 / 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
$889,410
Tax year 2024
Assessed value
$64,834,300
Assessed 2024
Previous assessed
$64,834,300
+0.0% YoY
Effective rate
1.37%
On assessed value
Assessed land
$52,922,721
Assessed improvement
$11,911,579
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1947
Construction
TILT-UP CONCRETE
Heating
NONE
Buildings
5
Stories
1
Total area
130,962 SF
Lot
3.12 ac (135,993 SF)
Zoning code
SMC3*
APN
4290-012-003
UPID
US10-0312222
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
SMC3* · Santa Monica, CAZoning SMC3* · permitted uses
SMC3* · Santa Monica, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1947
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Buildings
5
Lot
3.12 ac
Current owner
From public records · entity-resolved
Mark 302 Property Owner LLC
Entity
Free & Clear · 8 yrs held
Mailing address
500 5TH AVE STE #1530, NEW YORK, NY 10110-1502
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2018
—
Mark 302 Property Owner LLC
Seritage Src Finance LLC
Quit Claim Deed
—
Jul 15, 2015
—
Seritage Src Finance LLC
Sears Roebuck & Co
Grant Deed
related
$1,261,195,656 · Jp Morgan Chase Bk
Dec 22, 2006
—
City Of Santa Monica
Sears Roebuck
Grant Deed
related
—
Dec 17, 1992
$12,000,000
Sears Roebuck And Co
—
Grant Deed
related
—
—
—
Sears Roebuck & Co
—
Deed Of Trust
related
$400,000,000 · Jpp II LLC
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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