2850 Ocean Park BlvdSanta Monica, CA 90405

  • Office properties
  • 152,006 SF
For Lease

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
2850 Ocean Park Blvd, Santa Monica, California

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

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
$1,583,734
$64,076,727
$71,086,999
$135,163,726
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FAQs

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