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Village Square 1600-1614 Santa Monica Blvd
10,059 SF 100% Leased Retail Building Santa Monica, CA 90404 $9,675,000 ($962/SF) 4.50% Cap Rate
Investment Highlights
- Village Square presents an excellent opportunity to purchase a 10,059-square-foot 7-Eleven-anchored retail center.
- Own an exceptional retail destination with ample parking, long-term existing tenants, and highly visible pylon signage.
- With easy ingress and egress on Santa Monica Boulevard, capturing consumers traveling to the downtown area and the Pier.
- Blocks away from neighboring retailers, including Target, Gap, Chipotle, Walgreens, Whole Foods, and Trader Joe's.
Executive Summary
This well-maintained retail destination is home to an array of tenants, including 7-Eleven (occupying over 41% of the center), DK's Donuts and Bakery, and Lee's Chinese Fast Food. Located off Santa Monica Boulevard, traveled by over 49,367 vehicles per day, this strip center has highly visible pylon signage.
The property rests within beautiful Santa Monica, California, where many upscale accommodations, world-class restaurants, and unmatched shopping are found close to the shores of Santa Monica Bay. Village Square is close to Interstate 10, 405, and California State Route 1. Downtown Santa Monica and the famous Santa Monica Pier lie a quick five-minute drive from this stunning retail spot. Potential tenants can tap into a strong demographic within a 3-mile radius of the property, boasting an average household income of $141,175 with an annual consumer spending of $3.9 billion.
Sale Flyer
Data Room Click Here to Access
Property Facts Under Contract
Amenities
- Pylon Sign
About Santa Monica Retail for Sale
Santa Monica is a legendary coastal city in Greater Los Angeles. With a stunning coastline, some of the best sunsets in Southern California, and a dynamic downtown, it is a very attractive location to live, shop, work and relax. Santa Monica is known as a walkable and bike-friendly town, with 22 miles of bike paths. It is home to a myriad of retail options, from boutiques to major national retailers, and is one of the premier restaurant hubs in Greater Los Angeles.
As a result of these attributes, it is also a major tourist magnet, with more than 7 million tourists visiting each year to see such destinations as the Third Street Promenade in Downtown Santa Monica, the Santa Monica Pier, and much more. Numerous luxury hotels attract affluent visitors.
The city has an enviable economy. The city is the center of Silicon Beach, having high concentration of technology firms and startups in the area. Videogame maker Activision, streaming service Hulu, social media app developer Snap Inc., and the renowned RAND Corporation all call Santa Monica Home. Media firms are well represented, as well as some of the leading business and professional services firms. Locating in Santa Monica is seen by many employers as a recruiting tool to attract top-tier talent. Incomes in the city are exceptional, and Santa Monica has some of the most expensive housing in the nation.
DEMOGRAPHICS
Demographics
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Taco Bell | Fast Food | - | 2 min walk |
| Sunshines Cafe & Grill | Sandwiches | $ | 8 min walk |
| La Condesa | Latin American | $$$ | 7 min walk |
| Bagel Nosh Deli | Bagels | $ | 7 min walk |
| Café Lovi | Sandwiches | $ | 8 min walk |
| Izzy's Deli | Deli | $$ | 8 min walk |
| Cold Stone Creamery | - | - | 9 min walk |
| Sushi King | Sushi | $$ | 9 min walk |
| Boba Tea & Me | Tea | $ | 9 min walk |
| Starbucks | Cafe | $ | 11 min walk |
Retail |
||
|---|---|---|
| CrossFit | Fitness | 6 min walk |
| Target | Dept Store | 6 min walk |
| Bank of America | Bank | 7 min walk |
| Unleashed by Petco | Animal Care/Groom | 9 min walk |
| Supercuts | Salon/Barber/Spa | 9 min walk |
| ULTA Beauty | Health & Beauty Aids | 10 min walk |
| Vons | Supermarket | 11 min walk |
| The UPS Store | Business/Copy/Postal Services | 12 min walk |
| FedEx Office | Business/Copy/Postal Services | 14 min walk |
| Trader Joe's | Supermarket | 16 min walk |
Hotels |
|
|---|---|
| Courtyard |
136 rooms
4 min drive
|
| Hampton by Hilton |
143 rooms
4 min drive
|
| Hyatt Centric |
315 rooms
5 min drive
|
PROPERTY TAXES
| Parcel Number | 4282-019-027 | Improvements Assessment | $1,207,278 |
| Land Assessment | $4,889,494 | Total Assessment | $6,096,772 |
PROPERTY TAXES
Sale Advisor
Sale Advisor
David Garcia, Head of Asset Management
Mr. Garcia previously worked at Kilroy Realty Corporation as Director of Asset Management, overseeing the management and leasing of approximately 2.8 million square feet office and industrial properties located in the Los Angeles region. Prior to Kilroy, Mr. Garcia worked for The Voit Companies as General Manager of the 2.3 million square foot Warner Center project, located in Woodland Hills, California.
Joining Sandstone Properties in 2003, Mr. Garcia currently oversees the day-to-day corporate operations of managing and leasing 47 commercial buildings totaling over 3 million square feet. Additionally, Mr. Garcia contributes to the evaluation of acquisition opportunities and subsequent due diligence review.
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Village Square | 1600-1614 Santa Monica Blvd
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