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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    604 Arizona Ave Santa Monica, CA 90401

    • Office buildings
    • 59,340 SF
    • 0.52 lot acres
    For Lease
    View listing
    Last Sale
    Aug 25, 2023
    $32,495,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-6711277
    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

    • Mike's Plumbing & Water Heater Repair Santa Monica / Plumber
    • Certified Translate / Translation Service
    • Longboard Capital Advisors / Financial Consultant
    • Davinci Meeting Rooms / Conference Center / Meeting Planning Service
    • Sterling Financial & Insurance Services, Inc. / Insurance Broker / Health Insurance Agency

    Property Details for 604 Arizona Ave

    Year built
    1950
    Construction
    TILT-UP CONCRETE
    Lot size
    0.52 lot acres
    Property size
    59,340 SF
    Zone code
    SMC3*
    Property type
    Office buildings
    APN
    4291-009-011
    APU
    4291009011

    Description

    This exceptional three-story, Class B creative office building at 604 Arizona Avenue in Santa Monica, California offers 46,707 square feet of space. Built in 1950 and renovated in 2005, the property boasts a rich history, having housed prominent companies. Currently, multiple suites are available, with a minimum divisible space of 2,507 square feet and a maximum contiguous space of 46,707 square feet, providing flexibility for various business needs. The building features a total of five suites and is situated on a 22,462 square foot lot. Ample parking is available with 47 spaces. The property is zoned NV and its Los Angeles County APN is 4291-009-011. Located in the desirable Santa Monica submarket, with the zip code 90401, this property presents a unique opportunity to establish a presence in a thriving business community. The building's blend of historical charm and modern functionality creates an inspiring work environment. This is an excellent opportunity for businesses seeking a prestigious and well-located office space in Santa Monica.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Monica
    County
    Los Angeles
    State
    California
    Longitude
    -118.494
    Latitude
    34.0193
    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
    $346,431
    $20,934,287
    $5,541,425
    $26,475,712
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation
      $475,000
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      1260 Lincoln Blvd

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    • Value Estimation
      $370,000
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      1310 Lincoln Blvd

      OFFICE BUILDING (MULTI-STORY) • 27,887 SF
      1310 Lincoln Blvd, Santa Monica, CA 90401
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    • Value Estimation
      $495,000
      47,171 SF

      1401 Ocean Ave

      OFFICE BUILDING (MULTI-STORY) • 47,171 SF
      1401 Ocean Ave, Santa Monica, CA 90401-2106
      View Details
    • Value Estimation
      $505,000
      4,971 SF

      1333 Ocean Ave

      OFFICE BUILDING • 4,971 SF
      1333 Ocean Ave, Santa Monica, CA 90401-1023
      View Details
    • Value Estimation
      $560,000
      102,157 SF

      1299 Ocean Ave

      OFFICE BUILDING (MULTI-STORY) • 102,157 SF
      1299 Ocean Ave, Santa Monica, CA 90401-1038
      View Details

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    Similar Nearby for Lease

    • $3 SF/Yr
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      Freestanding Office Building in Santa Monica

      Two-story office building with excellent visibility and on-site parking.
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      Santa Monica Executive Suites

      Prestigious Santa Monica office space, multiple sizes.
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    • $3 SF/Yr
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      Prime Santa Monica Mixed-Use Space

      Ground floor space ideal for retail, office, medical, or fitness.
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    • $6 SF/Yr
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      Santa Monica Office Space Available

      Office space available for rent in Santa Monica, CA.
      501 Santa Monica Blvd, Santa Monica, CA 90401
      View Details
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    Santa Monica, CA 90401
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    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
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