3122 Santa Monica Blvd
Rare Mixed-Use User Opportunity w/ Stable Income | Santa Monica, CA
Marketing description
Neighborhood Office Continues to Shine in Santa Monica
►Thriving neighborhood office market in Santa Monica has continued to perform well since the COVID-19 pandemic, with a current vacancy rate of just 13.9% for office buildings under 30,000 SF and positive absorption of over 60,000 SF in 2024.
►Santa Monica has been one of the best performing office markets throughout the last decade. With over 16M square feet of office product, Santa Monica is home to high-profile corporate headquarters and a booming tech, media, and entertainment sector.
►Innovative Ecosystem | Serving as Southern California’s tech hub, Santa Monica’s “Silicon Beach” has attracted major tech companies such as Google, Microsoft, Meta, Snap, Hulu, and YouTube. The influx of tech talent has helped to create a dynamic and innovative business ecosystem.
“Live-Work-Play” Destination with World-Class Amenities
►World-Class Destination | Santa Monica welcomes over 8 million visitors annually attracted to its proximity to LA attractions and beach front location with more than 300 days of sunshine each year. Its world-class sunsets and breathtaking landscapes make the city one of the most desirable destinations to live and work within all Southern California.
►Strong Retail Location | Traffic counts exceed 29,000 cars per day along Santa Monica Blvd, creating reliable retail demand and future rent growth for the ground floor suites.
►“Live-Work-Play” | The property sits amongst the most affluent and exclusive residential communities on the West Coast, including Malibu, Pacific Palisades, Santa Monica, Brentwood, and Venice Beach. The median household income in the area is over $105,000/year within a 3-mile radius.
Investment highlights
Rare Mixed-Use User Opportunity with Stable Income
►High Image mixed-use office/retail opportunity along the most desirable thoroughfare in West Los Angeles. Ideally located with immediate access to a world-class amenity base in Los Angeles via the 405 freeway to the east and Downtown Santa Monica to the west.
►Currently ±25.9% leased (Based on SAA's 2021 Measurement Report) with diverse office & retail tenants allowing a user to benefit from in-place revenue while taking advantage of SBA financing by occupying at least 51% of the building.
►Rare separately metered suites allow new owner to charge for individual utility usage and flexibility for tenants to control their own electricity/HVAC 24/7.
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