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Property profile & analytics
FOR SALE
Turn key restaurants
3221 Pico Blvd Santa Monica, CA 90404
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6277902
For Sale
1 / 7
$1,995,000
3221 Pico Blvd, Santa Monica, CA 90404
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1952
Construction
TILT-UP CONCRETE
Total area
2,250 SF
Lot
0.06 ac (2,508 SF)
Zoning code
SMC2*
APN
4274-034-013
UPID
US09-6277902
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
-
Viet Noodle Bar (Pico Blvd) Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.63M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.26M
Blend (final)
Blend
$1.66M
Owner & transaction history
Brandben LLC · 4 yrs held
Brandben LLC
since 2021
Last sale
$1.7M
4 recorded transactions
Zoning & alternative use
SMC2* · Santa Monica, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.7M
+84.8%
Retail stores
$1.9M
+28.4%
Commercial (general)
$1.7M
+16.9%
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
$1,590,000
ML approach
$1,630,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,465,000
Current use
OFFICE BUILDING
$2,705,000
Change: +85% · Conversion: Moderate
RETAIL STORES
$1,880,000
Change: +28% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,710,000
Change: +17% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,370,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.66M
Range $1.49M – $1.82M · ±10% · vs last sale $1.70M (Aug 20 2021)
Last sale anchor
$1.70M
Aug 20 2021
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
$736 / 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
$21,280
Tax year 2024
Assessed value
$1,768,680
Assessed 2024
Previous assessed
$1,768,680
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$1,456,560
Assessed improvement
$312,120
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
For Sale
Year built
1952
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
2,250 SF
Lot
0.06 ac (2,508 SF)
Zoning code
SMC2*
APN
4274-034-013
UPID
US09-6277902
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.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.5M
OFFICE BUILDING
Est. value
$2.7M
RETAIL STORES
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
RESTAURANT Current
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1952
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Brandben LLC
Entity
Mailing address
2615 28TH ST, SAN DIEGO, CA 92104-4901
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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 20, 2021
$1,700,000
Brandben LLC
John C Barthell
Grant Deed
—
Oct 2, 2017
—
Alpert Howard
Smpv LLC
Quit Claim Deed
related
$900,000 · Kinecta FCU
Nov 6, 2003
$480,000
Smpv LLC
Saenz,ismael
Grant Deed
—
—
—
Smpv LLC
—
Deed Of Trust
related
$580,000 · California Republic Bank
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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