Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    51 Market St Venice, CA 90291-3603

    • Investment properties
    • 3,381 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Jan 25, 2022
    Value Estimations
    $1,015,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8797347
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Investment properties

    Property Details for 51 Market St

    Year built
    1981
    Lot size
    0.06 lot acres
    Property size
    3,381 SF
    Zone code
    LACM
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    4226-007-008
    APU
    4226007008

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,140,000
      6.5%
      $1,055,000
      7%
      $980,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Venice
    County
    Los Angeles
    State
    California
    Longitude
    -118.473
    Latitude
    33.9881
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $18,121
    $290,888
    $968,386
    $1,259,274
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,746 SF

      63 Navy St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,746 SF
      63 Navy St, Venice, CA 90291-2486
      View Details
    • Value Estimation by Request
      1,524 SF

      959 Superba Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,524 SF
      959 Superba Ave, Venice, CA 90291-3872
      View Details
    • Value Estimation
      $875,000
      4,080 SF

      300 Westminster Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,080 SF
      300 Westminster Ave, Venice, CA 90291-3308
      View Details
    • Value Estimation
      $1,690,000
      10,080 SF

      431 Ocean Frnt Walk

      OFFICE/RESIDENTIAL (MIXED USE) • 10,080 SF
      431 Ocean Frnt Walk, Venice, CA 90291-2402
      View Details
    • Value Estimation
      $540,000
      2,668 SF

      1422 Abbot Kinney Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,668 SF
      1422 Abbot Kinney Blvd, Venice, CA 90291-3741
      View Details
    • Value Estimation
      $855,000
      3,400 SF

      1009 Abbot Kinney Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,400 SF
      1009 Abbot Kinney Blvd, Venice, CA 90291-3372
      View Details

    Similar Nearby for Sale

    • $1,875,000
      Pending

      Venice Craftsman with Income Potential

      Rare Venice compound with flexible layout and income potential.
      919 Venezia Ave, Venice, CA 90291
      View Details
    • Contact for pricing
      2,614 SF

      2,614 SF Stunning Abbot Kinney Office/Studio

      2,614 SF Stunning Abbot Kinney Office/Studio
      1514 Abbot Kinney Blvd, Venice, CA 90291
      View Details
    • New
      $3,995,000
      5,184 SF

      Oceanfront Mixed-Use Development Opportunity

      Entitled Venice property with commercial space and luxury residence plans.
      811 Ocean Front Walk, Venice, CA 90291
      View Details
    • $6,850,000
      8,192 SF

      Lincoln Blvd Mixed-Use Opportunity

      Prime Venice location, high NOI potential.
      1700 Lincoln Blvd, Los Angeles, CA 90291
      View Details
    • Contact for pricing
      14,011 SF

      Venice Beach Mixed-Use Opportunity

      Iconic location, high foot traffic, ocean views.
      1007 Ocean Front Walk, Los Angeles, CA 90291
      View Details
    • $5,975,000
      4,765 SF

      Historic Venice Live/Work Building

      Prime location, renovated, mixed-use space.
      310 Venice Way, Venice, CA 90291
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      23,994 SF

      Venice Boardwalk Work/Live Space

      Modern work/live space on Venice Boardwalk available for lease.
      305 Ocean Front Walk, Venice, CA 90291
      View Details
    • $8,750 /Mo
      1,634 SF

      Venice Creative Office/Live-Work Space

      Unique live/work space in vibrant Venice Beach near Abbot Kinney.
      215 Windward Ave, Venice, CA 90291
      View Details
    • $6 SF/Yr
      6,000 SF

      Creative Office Space Near Beach

      Furnished creative office space with high ceilings near Venice Beach.
      334 Sunset Ave, Venice, CA 90291
      View Details
    • Contact for pricing
      5,530 SF

      Abbot Kinney Retail Spaces

      Prime Venice Beach Retail Opportunity
      1354 ½ Abbot Kinney Blvd, Los Angeles, CA 90291
      View Details
    • $126,000
      1,500 SF

      Prime Oceanfront Retail Space in LA

      Beachfront Retail: Two Spaces Available
      511 Ocean Front Walk, Los Angeles, CA 90291
      View Details
    • $10,000 /Mo
      1,930 SF

      Venice Townhouse Near Abbot Kinney

      Chic, William Adams-designed townhouse near Abbot Kinney and the beach.
      1132 5Th Ave, Venice, CA 90291
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    51 Market St
    Venice, CA 90291-3603
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.