1902 Wilshire Blvd
Santa Monica, CA 90403

** Visit www.wilshireand19th.com to execute an NDA and receive access to the offering memorandum and due diligence materials ** Great Visibility & Access: Located in the Wilshire Boulevard neighborhood of Santa Monica on Wilshire Boulevard between 19th Street and 19th Court (alley), the property has 150 feet of Wilshire frontage. The rear parking area, with approximately 74 spaces, is easily accessible from either side street, which allows for easy circulation into and out of the Property. Santa Monica’s Wilshire Boulevard Neighborhood: The Property is surrounded by popular shopping and dining along the Wilshire Boulevard retail corridor. Notable amenities within a 10-minute walk include Whole Foods, Vons, La Monarca Bakery, Unleashed by Petco, Gap/Baby Gap, Earth Wind & Flour, Bru’s Wiffle, Santa Monica UCLA Medical Center, and several national brand drugstores and financial institutions. Excellent Submarket Fundamentals: Santa Monica’s retail and multifamily markets exhibit strong fundamentals with high barriers to entry and strong demand for both product types. CoStar reports retail vacancy in the submarket at 5.0% with rents on Wilshire Boulevard between the ocean and Centinela Avenue in the last 18 months averaging $6.19 per square foot, per month plus triple net expenses. Multifamily vacancy is 4.2%, and while development in Santa Monica tends to be limited, more new units are expected to deliver here in 2019-20 than did from 2010-2018. Retail Income Upside Potential: Current in-place commercial rental rates are as much as 75% below market for similar space along the Wilshire corridor. If a buyer wishes to purchase and continue operating the Property as retail, near-term expirations will allow new ownership to capture market rents. Development Opportunity in MUB Zone: Approximately 22,500 square feet of the Property are in a Mixed-Use Boulevard (MUB) zone; the remaining 7,500 square feet are zoned R2. This combination allows for the development of a residential mixed-use property, and further details can be found on page 11. Short-term leases offer a covered land play, allowing a developer to generate income while solidifying project design and securing permits. Incredible Santa Monica Location: Located less than mile and half from the Pacific Ocean, the Property is located in the heart of Santa Monica with easy access to the I-10 Freeway and the Metro Expo Line with service to Downtown L.A. in under 40 minutes. Ideal Parcel Configuration: With 150 feet of frontage along Wilshire Blvd. and 200 feet of frontage each on 19th Street and 19th Court (alley), the Property allows for an efficient mixed-use design with multiple access points.