Highly Visible Retail Offering in Ocean Park | 2300 Lincoln Blvd
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Highly Visible Retail Offering in Ocean Park 2300 Lincoln Blvd
7,032 SF 100% Leased Retail Building Online Auction Sale Santa Monica, CA 90405
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Investment Highlights
- Take advantage of a fully leased, multi-tenant retail center along a busy thoroughfare in the heart of Santa Monica, California.
- 2300 Lincoln Boulevard introduces a strategic opportunity for investors to acquire a profitable asset in a prime location with upside potential.
- Situated just off the 10 freeway, tenants at 2300 Lincoln Boulevard benefit from exceptional visibility to over 50,000 vehicles passing daily.
- Well-established in Ocean Park, a trendy and quaint beachfront community, tenants benefit from a dense residential population and year-round tourism.
- New ownership has the ability to capitalize on immediate cash flow while strategizing future revenue enhancements for long-term stabilization.
Executive Summary
2300 Lincoln Boulevard is a 7,032-square-foot retail building in the Ocean Park neighborhood of Santa Monica. Positioned on the main north-south artery and just five blocks from Interstate 10, the building offers excellent access and exposure to vehicle and pedestrian traffic. The property offers highly visible signage options for tenants as well as private, gated parking in the rear of the building.
With the potential to acquire well below replacement cost, 2300 Lincoln Boulevard offers an incoming investor the opportunity to benefit from a revenue-generating retail asset in a superior location. Currently 100% occupied by two tenants on short-term leases, this investment presents significant upside potential through lease renewals and rent escalations.
Ocean Park is one of Santa Monica’s most sought-after locations, offering a laidback beachfront atmosphere with big city amenities. Located just south of the Santa Monica Pier, visitors flock to the coastal community to experience local eateries, quaint cafes, and boutique shops, all just steps from the beach. Santa Monica boasts an affluent residential population surrounding 2300 Lincoln Boulevard. There are approximately 113,000 residents earning an average household income of $136,000 within a 2-mile radius. Consumers in the area spend an astounding $1.9 billion annually, with over $1 billion spent on retail-related goods and services specifically.
Property tours are available by appointment only. Please contact the listing broker to schedule.
With the potential to acquire well below replacement cost, 2300 Lincoln Boulevard offers an incoming investor the opportunity to benefit from a revenue-generating retail asset in a superior location. Currently 100% occupied by two tenants on short-term leases, this investment presents significant upside potential through lease renewals and rent escalations.
Ocean Park is one of Santa Monica’s most sought-after locations, offering a laidback beachfront atmosphere with big city amenities. Located just south of the Santa Monica Pier, visitors flock to the coastal community to experience local eateries, quaint cafes, and boutique shops, all just steps from the beach. Santa Monica boasts an affluent residential population surrounding 2300 Lincoln Boulevard. There are approximately 113,000 residents earning an average household income of $136,000 within a 2-mile radius. Consumers in the area spend an astounding $1.9 billion annually, with over $1 billion spent on retail-related goods and services specifically.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Miscellaneous
Market Analytics Click Here to Access
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Market Sale Price per SF
Los Angeles - CA USA
Market Cap Rate
Los Angeles - CA USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Building Size
7,032 SF
Building Class
B
Year Built
1924
NOI
$130,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.77
Land Acres
0.21 AC
Zoning
C4, Santa Monica - Commercial District
Parking
5 Spaces (0.71 Spaces per 1,000 SF Leased)
Frontage
131 FT on Lincoln
Amenities
- Air Conditioning
Walk Score ®
Walker's Paradise (91)
Bike Score ®
Biker's Paradise (92)
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
1 Mile
3 Mile
5 Mile
2024 Population
36,429
222,082
484,552
2020 Population
35,130
216,612
471,545
2029 Population
35,801
217,774
475,364
2024-2029 Projected Population Growth
-1.7%
-1.9%
-1.9%
Daytime Employees
33,110
164,206
382,130
Total Businesses
4,174
23,297
47,746
Average Household Income
$123,039
$141,384
$139,816
Median Household Income
$89,789
$109,695
$108,462
Total Consumer Spending
$619.7M
$4B
$8.3B
Median Age
41.8
40.9
39.2
2024 Households
19,243
110,921
226,597
Percent College Degree or Above
37%
39%
36%
Average Home Value
$1,046,034
$1,056,389
$1,045,050
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 4289-001-006 | Improvements Assessment | $799,209 |
| Land Assessment | $3,605,478 | Total Assessment | $4,404,687 |
PROPERTY TAXES
Parcel Number
4289-001-006
Land Assessment
$3,605,478
Improvements Assessment
$799,209
Total Assessment
$4,404,687
Sale Advisor
Sale Advisor
Jeff Gray
(310) 275-3213
Contact
Jeff focuses on the commercial corridors where he grew up on the Westside including Venice, Santa Monica, Palms and Culver City. He has sold and leased numerous properties on Abbot Kinney including a 2017 sale for more than $4,200 a square foot. He especially enjoys helping clients increase their cash flow through 1031 exchanges. Commonly, this involves selling a management-intensive local property and buying a single-tenant, long-term lease property out of state with little or no management.
Prior to Conroy Commercial, Jeff started his real estate career at Marcus & Millichap. Born and raised in Brentwood, he attended Loyola High school and is a graduate of University of Colorado. In his free time, he enjoys spending time with his family, biking, surfing and skiing.
Prior to Conroy Commercial, Jeff started his real estate career at Marcus & Millichap. Born and raised in Brentwood, he attended Loyola High school and is a graduate of University of Colorado. In his free time, he enjoys spending time with his family, biking, surfing and skiing.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Sophy Cardenas
Contact
Auctioneer License:
Ten-X Jessica Figueroa RE Brkr 01937601. Ten-X Auction Surety Bond 106465786
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Jeff Gray -
Conroy Commercial
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PHOTOS
STREET VIEW
STREET
MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Highly Visible Retail Offering in Ocean Park | 2300 Lincoln Blvd
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