2850 Ocean Park BlvdSanta Monica, CA 90405
- Office properties
- 152,006 SF
Property Details for 2850 Ocean Park Blvd
- Year built
- 1980
- Construction
- STEEL FRAME
- Lot size
- 4.34 AC
- Property size (Sq ft)
- 152,006 SF
- Zone code
- SMC5*
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- 4272-029-008
- APU
- 4272029008
Description
This exceptional retail opportunity presents 17,207 square feet of vacant space in the vibrant Ocean Park neighborhood of Santa Monica, California. Located at 2850 Ocean Park Boulevard, zip code 90405, this freestanding property boasts a rich history, having successfully operated as a restaurant for over four decades. The space is currently available in its entirety, offering significant flexibility for a variety of retail uses. Units can be divided, with a minimum divisible space of 1,709 square feet and a maximum contiguous space of 10,090 square feet. The building's features include ample potential for outdoor patio space on multiple levels, abundant natural light from skylights, and a substantial kitchen area. Previous approvals for a full liquor license are in place, presenting a significant advantage for qualified operators. The landlord is offering attractive concessions to incentivize the right tenant. This property presents a unique chance to establish a thriving business in a high-traffic, desirable location within Los Angeles County. The property is categorized as retail, with multiple tenancy options. This is a truly remarkable opportunity in the heart of Santa Monica's bustling Ocean Park.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $37,056,708
- 6.5%
- $34,206,192
- 7%
- $31,762,892
-
Comparable approach
- Method
- Valuation
- Relative Method
- $28,863,622
- Geo Method
- $28,905,460
-
Alternative Use
- Use
- Valuation
- Residential
- $42,415,680
- Hospitality
- $38,852,532
- Educational
- $32,324,852
- Medical
- $33,436,554
- Retail
- $50,283,104
Location Insight
- City
- Santa Monica
- County
- Los Angeles
- State
- California
- Latitude
- 34.0186
- Longitude
- -118.455
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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