for sale | rare small leased pico boulevard...pico boulevard for sale | rare small leased investment...

P I C O B O U L E VA R D3221 for sale | rare small leased

investment in santa monica, ca

WESTMAC COMMERCIAL BROKERAGE COMPANY1515 S. Sepulveda Boulevard, CA 90025Phone: 310.778.7700DRE# 01096973www.westmac.com

T.C. MACKER, [email protected]# 01232033

©2020 WESTMAC Commercial Brokerage Company. All Rights Reserved. WESTMAC Commercial Brokerage fully supports the principles of the Equal Opportunity Act. WESTMAC Commercial Brokerage Company and the WESTMAC Commercial Brokerage Company logo are registered service marks owned by WESTMAC Commercial Brokerage Company and may not be reproduced by any means or in any form whatsoever without written permission.

L I S T I N G B Y

©2020 WESTMAC Commercial Brokerage Company. All Rights Reserved. WESTMAC Commercial Brokerage fully supports the principles of the Equal Opportunity Act. WESTMAC Commercial Brokerage Company and the WESTMAC Commercial Brokerage Company logo are registered service marks owned by WESTMAC Commercial Brokerage Company and may not be reproduced by any means or in any form whatsoever without written permission.

P I C O B O U L E VA R D3221

43221 PICO BOULEVARD

WESTMAC Commercial Brokerage Company is proud to present the sale of 3221 Pico Boulevard, a highly visible single-story commercial retail space located in one of Los Angeles’s most exciting neighborhoods for food, culture and entertainment – Santa Monica. In a market with very high demand and very few opportunities, this is a rare opportunity to own in prime Santa Monica.

The subject property is nestled along the heavily-traveled Pico Boulevard, surrounded by an amenity rich area walking distance from its doors, and encircled by a dense affluent residential population. It is currently leased to a restaurant tenant The property is near the 10 and 405 Freeways, giving travelers easy access to all parts of the City, including Santa Monica’s most famous attractions: the beach, pier, and world-class shopping & entertainment.

Property is strategically located in an excellent Santa Monica location bordering West Los Angeles. Westwood, Brentwood, Mar Vista, Venice and Pacific Palisades are adjoining neighbors, while walkable amenities include Trader Joe’s, Whole Foods Market 365, UnUrban Coffee House, Chase Bank, Rejuice, Crossfit Reflex, The Upper West, Valentino, and many more!

E X E C U T I V E S U M M A R Y

5OFFERING MEMORANDUM


P R O P E R T Y S U M M A R Yaddress

apn

bldg size

lot size

built

zoning

stories

frontage

parking

tenancy

noi

cap rate

asking price

3221 Pico Boulevard, Santa Monica, CA 90405

4274-034-013

± 2,250-square feet

± 2,500-square feet

1952

SMC2*

One (1)

25’ along Pico Blvd.

Street

Single Tenant (Viet Noodle Bar)

$93,932 (±NNN annual: $12,120)

4.58%

$2,050,000


parcel map


PICO PLACE

PICO BOULEVARD

URBAN AVENUE

aerial view

N


tenant

size

term

commencement

expiration

current rent

cam

annual increases

option to extend

security deposit

prop 13 protection

personal guaranty

lease form

VNB on Pico, Inc. DBA Viet Noodle Bar

2,250-square feet (storage room in back not included in square footage)

5 years

February 1, 2015

January 31, 2025 (original expiration was January 31, 2020)

$7,827.70 per month, NNN, as of 2/1/20

$1,010 per month (subject to year-end reconciliation)

CPI; minimum 2% each February 1

None (on one and only option)

$12,600

No

Yes

A.I.R. Standard Industrial/ Commercial Single-Tenant Lease - Net

A B S T R A C TL E A S E


pico boulevard


H I G H L I G H T SP R O P E R T Y• Signalized Busy Santa Monica Location on Heavily-Traveled

Pico Boulevard (daily traffic count of +44,000 cars).

• Highly Desirable Community – an affluent residential population surrounds the immediate vicinity.

• Dense Retail Population – many popular restaurants and retailers within walking distance.

• Just east of the 10 Freeway, near the 405 interchange and across from Trader Joe’s.

• Close to Santa Monica airport, LAX, and plentiful public transportation stops along the Metro expo line.

• Near Tourist hot spot including Downtown Santa Monica’s Third Street Promenade, Santa Monica Pier, Santa Monica Beach, and Palisades Park.

metro expo line

palisades parkpico boulevard

pico boulevard


BRENTWOOD

B O U L E VA R DP I C O3221

getty center

SAWTELLE

pico boulevard


ucla

WESTWOOD CENTURY CITY

N

B O U L E VA R D

expo - bundy station


S U M M A R YA R E AThe subject property is nestled along the heavily-traveled Pico Boulevard, surrounded by an amenity rich area walking distance from its doors, and encircled by a dense affluent residential population. The property is near the 10 and 405 Freeways, giving travelers easy access to all parts of the City, including Santa Monica’s most famous attractions: the beach, pier, and world-class shopping & entertainment.

Santa Monica is one of Southern California’s premier coastal location for business, entertainment, shopping and upscale housing. Consisting of 8.5 square miles, Santa Monica is bordered by Pacific Ocean to the west, the Pacific Palisades to the north, Brentwood and West Los Angeles to the east and by Venice on the South. Santa Monica is one of the oldest cities in Los Angeles County featuring three miles of scenic coastline along Santa Monica Bay. Thanks in part to its year-round agreeable weather, Santa Monica has become a popular resort town with a booming restaurant and entertainment district.

±1.7


8484WALK SCORE

VERY WALKABLE

(across the street)

(coming soon)

IMMEDIATE AREA AMENITIES

Property is strategically located in an excellent Santa Monica location bordering West Los Angeles. Westwood, Brentwood, Mar Vista, Venice and Pacific Palisades are adjoining neighbors, while walkable amenities include Trader Joe’s, Whole Foods Market 365, Caprice Fine French Pastries, UnUrban Coffee House, Chase Bank, Rejuice, Crossfit Reflex, The Upper West, Bay Screen & Shades, Valentino, and many more!

residents

SANTA MONICA VITAL SIGNS

households businesses

±1.7 median home

mm

price

±138 median hh

k

income

±1.93 consumer

b

spending

±9.5 k±46.9 k±92.3 k


population 1-mile 3-mile 5-mile

2019 estimated 27,806 344,592 576,391

2024 projected 28,040 351,453 586,846

households 1-mile 3-mile 5-mile

2019 estimated total 12,606 166,404 263,477

average HH income $110,961 $114,719 $122,41

median HH income $81,031 $84,565 $90,104

business 1-mile 3-mile 5-mile

total businesses 2,628 26,570 46,925

# of employees 37,720 280,048 520,671

total consumer spending $362,340 $4,778,695 $7,973,749

DISTANCE FROM

3221 PICO BOULEVARD

D E M O G R A P H I C SA R E A


B O U L E VA R DP I C O

MIRACLE MILE

SANTA MONICA

LAX

DTLA

BEVERLY HILLS

VENICE

BEL AIR

CULVER CITY

STUDIO CITY

GLENDALE

INGLEWOOD

LOS FELIZ

KOREATOWN

USCJEFFERSON

VERNON

WATTS

PLAYA VISTAN

WESTWOOD

HOLLYWOOD

3221


This offering has been prepared solely for informational purposes. While the information contained herein is from sources deemed reliable, it has not been independently verified by WESTMAC Commercial Brokerage Company or by the Seller.

This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.

DISCLAIMER

FOR MORE SALE INFORMATION CONTACT LISTING BROKER:

T.C. MACKER, [email protected]# 01232033

P I C O B O U L E VA R D3221

WESTMAC COMMERCIAL BROKERAGE COMPANY1515 S. Sepulveda Boulevard, CA 90025Phone: 310.778.7700DRE# 01096973www.westmac.com

for sale | rare small leased pico boulevard...pico boulevard for sale | rare small leased investment...

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