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Property profile & analytics
OFF-MARKET
Estimated value
$2,700,000
Turn key restaurants
3117 Ocean Park Blvd Santa Monica, CA 90405-3005
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US10-0299749
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1940
Construction
WOOD
Total area
888 SF
Lot
0.03 ac (1,120 SF)
Zoning code
SMC2*
APN
4270-020-022
UPID
US10-0299749
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
-
Cinnabear Buns Bakery Specialty Food Shop
-
The OP Cafe Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.70M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.70M
Owner & transaction history
Mark Verge · 1 yrs held
Mark Verge
since 2024
Last sale
$2.7M
4 recorded transactions
Zoning & alternative use
SMC2* · 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
$2,700,000
ML approach
$2,700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.70M
Range $2.43M – $2.97M · ±10% · vs last sale $2.70M (Aug 9 2024)
Last sale anchor
$2.70M
Aug 9 2024
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
$3,041 / 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
$10,571
Tax year 2024
Assessed value
$858,330
Assessed 2024
Previous assessed
$858,330
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$738,684
Assessed improvement
$119,646
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
Units
1
Total area
888 SF
Lot
0.03 ac (1,120 SF)
Zoning code
SMC2*
APN
4270-020-022
UPID
US10-0299749
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
SMC2* · Santa Monica, CA
Zoning SMC2* · permitted uses
SMC2* · 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
Units
1
Lot
0.03 ac
Current owner
From public records · entity-resolved
Mark Verge
Individual
Free & Clear · 1 yrs held
Mailing address
1400 CALLE DEL JONELLA AVE, PACIFIC PALISADES, CA 90272-2041
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 9, 2024
$2,700,000
Mark Verge
June Ikegami Lew
Grant Deed
—
Nov 1, 2022
—
June Ikegami Lew
June Ikegami Lew & Farmers & Mercha
Intrafamily Transfer
related
—
Feb 8, 2022
—
June Ikegami Lew
Kay Ikegami
Affidavit Death Of Trustee/successor Trustee
related
—
Aug 16, 2021
—
June Ikegami Lew
Roy Ikegami
Affidavit Death Of Trustee/successor Trustee
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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