3002 Pennsylvania AveSanta Monica, CA 90404

  • Office properties
  • 6,155 SF
For Lease
$66/SF/YR View listing

Property Details for 3002 Pennsylvania Ave

Year built
1956
Construction
TILT-UP CONCRETE
Lot size
0.16 AC
Property size (Sq ft)
6,155 SF
Zone code
SMLMSD*
Property type
Office properties
Property subtype
Office buildings
APN
4268-009-001
APU
4268009001

Description

This exceptional 6,000 square foot creative office building, located in the heart of Santa Monica's Media District, presents a unique investment opportunity. Built in 1950, this single-story, Class B property boasts a desirable hard corner location and offers multiple tenancy options. Currently, 3,500 square feet of space is available, with individual suites ranging from 1,400 to 3,500 square feet. The building features high-height exposed wood beam ceilings, polished concrete floors, and operable Torrance steel windows throughout, creating a stylish and functional workspace. Abundant natural light streams in through strategically placed skylights. The property also includes a climate-controlled machine room, ensuring optimal functionality for sensitive equipment. High-speed internet and ample power are readily available. The convenient location provides easy access to numerous restaurants and food trucks within walking distance. The property is zoned M2 and includes four parking spaces. The Los Angeles County Assessor's Parcel Number (APN) is 4268-009-001. This is an ideal space for creative businesses seeking a vibrant and well-equipped location in a thriving Santa Monica submarket. Don't miss this chance to secure a prominent presence in this sought-after area.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,568,913
    6.5%
    $1,448,227
    7%
    $1,344,782
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,167,274
    Geo Method
    $1,170,435
  • Alternative Use

    Use
    Valuation
    Residential
    $1,795,802
    Hospitality
    $1,644,945
    Educational
    $1,368,575
    Medical
    $1,415,642
    Retail
    $2,128,894
3002 Pennsylvania Ave, Santa Monica, California

Location Insight

City
Santa Monica
County
Los Angeles
State
California
Latitude
34.0327
Longitude
-118.465
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
$20,887
$922,182
$756,012
$1,678,194
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