2850 Ocean Park BlvdSanta Monica, CA 90405

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 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.

• 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

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