New search
Property profile & analytics
OFF-MARKET
Estimated value
$9,910,000
Parking lots & garages
688 Westminster Ave Venice, CA 90291-3448
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-0492154
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1969
Total area
11,180 SF
Lot
0.26 ac (11,269 SF)
Zoning code
LARD1.5
APN
4239-024-001
UPID
US10-0492154
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.14M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.64M
Blend (final)
Blend
$9.91M
Owner & transaction history
Communtiy Corporation Of Santa Moni · 3 yrs held
Communtiy Corporation Of Santa Moni
since 2023
Last sale
$11.8M
7 recorded transactions
Zoning & alternative use
LARD1.5 · Venice, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$15.0M
+164.5%
Retail stores
$12.6M
+122.6%
Restaurant
$7.3M
+28.2%
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 Venice submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Venice 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
$8,165,000
ML approach
$7,140,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$15,025,000
Change: +165% · Conversion: Difficult
RETAIL STORES
$12,645,000
Change: +123% · Conversion: Difficult
RESTAURANT
$7,280,000
Change: +28% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,805,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$9.91M
Range $8.92M – $10.90M · ±10% · vs last sale $11.80M (Mar 21 2023)
Last sale anchor
$11.80M
Mar 21 2023
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
$886 / 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
$46,436
Tax year 2024
Assessed value
$3,820,348
Assessed 2024
Previous assessed
$3,820,348
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$3,820,348
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1969
Heating
NONE
Total area
11,180 SF
Lot
0.26 ac (11,269 SF)
Zoning code
LARD1.5
APN
4239-024-001
UPID
US10-0492154
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LARD1.5 · Venice, CA
Zoning LARD1.5 · permitted uses
LARD1.5 · Venice, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Venice. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$15.0M
RETAIL STORES
Est. value
$12.6M
RESTAURANT
Est. value
$7.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.8M
COMMERCIAL (GENERAL)
RETAIL STORES
RESTAURANT
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
1969
Heating
NONE
Lot
0.26 ac
Current owner
From public records · entity-resolved
Communtiy Corporation Of Santa Moni
Entity
Mailing address
1423 2ND ST STE B, SANTA MONICA, CA 90401-3453
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2023
$11,800,000
Communtiy Corporation Of Santa Moni
LP Venice Development LLC
Grant Deed
$10,620,000 · Century Housing Corporation
Mar 21, 2023
—
Community Corporation Of Santa Moni
—
Deed
related
$1,500,000 · Century Housing Corporation
Oct 30, 2020
$5,830,000
1036 N Highland Mgmt LLC
688 Westminster Holdings LLC
Grant Deed
—
Feb 16, 2017
$5,500,000
688 Westminster Holdings LLC
First Baptist Church Of Venice
Grant Deed
$4,500,000 · Private Individual
Aug 8, 2016
—
First Baptist Church Of Venice
—
Deed
related
$25,000 · Via Dolce Invs
Feb 28, 2002
—
Coastal Commission St. Calif
Cy,lb
Grant Deed
related
—
Oct 6, 1989
—
Lb
—
Deed Of Trust
related
—
—
—
First Baptist Church Of Venice
—
Deed Of Trust
related
$408,000 · Daniel Beck
—
—
First Baptist Church Of Venice
—
Deed Of Trust
related
$980,000 · Ress Financial Corp
—
—
First Baptist Church Of Venice
—
Deed Of Trust
related
$100,000 · Constine Trust
—
—
First Baptist Church Of Venice
—
Deed Of Trust
related
$2,625,000 · Via Dolce Invs
—
—
First Baptist Church Of Venice
—
Deed Of Trust
related
$25,000 · Via Dolce Invs
—
—
First Baptist Church
—
Deed Of Trust
related
$240,000 · Daniel Beck
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 688 Westminster Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
