S ANTA B OULEVARD M ONICA FOR SALE PRICE REDUCTION PRIME MIXED-USE ALONG SANTA MONICA BOULEVARD SANTA MONICA, CA 90404

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1 S ANTA M ONICA B OULEVARD SANTA MONICA, CA FOR SALE PRICE REDUCTION OWNER USER REDEVELOPMENT OPPORTUNITY PRIME MIXED-USE ALONG SANTA MONICA BOULEVARD

2 S ANTA M ONICA B OULEVARD 04 EXECUTIVE SUMMARY PROPERTY INFORMATION PROPERTY HIGHLIGHTS 10 AREA MAP 12 AREA AMENITIES 13 AREA OVERVIEW 2018 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. 2

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4 EXECUTIVE SUMMARY Coldwell Banker Commercial WESTMAC, as the exclusive agent, is pleased to present the opportunity to acquire Santa Monica Boulevard. Located at the signalized Northeast corner of Santa Monica Boulevard and Berkeley Street, Santa Monica Boulevard is a two-story ±5,494-square feet mixed-use commercial building situated on ±7,498-square feet of land. The Property has housed one of the ski industry s most iconic retail destinations since Doc s Ski & Sports occupies the ±4,500-square foot ground floor space, while the second floor is made up of two (2) ±500-square feet apartment units. The entire property will be vacant upon close of escrow. The back of the building has a dedicated parking lot with room to accommodate six (6) cars; however, temporary structures in the rear can be removed to increase on-site parking Santa Monica Boulevard s location puts it in the midst of Silicon Beach, an area that reaps the benefits the booming tech industry has brought to commerce in recent years. The Property also offers high visibility thanks to its strategic placement along Santa Monica Boulevard and close proximity to tourist hot spots like Downtown Santa Monica, Santa Monica Pier, and beach. The immediate area along Santa Monica Boulevard is home to various retailers and restaurants with access to plenty of street parking, public transportation, and 405 Freeway. The Property is positioned amongst the city s most affluent neighborhoods with excellent local demographics, including Brentwood, Santa Monica, Westwood, and West LA Santa Monica Boulevard is a great redevelopment opportunity or for a full to partial owner-user looking to purchase highly visibly commercial property in one of the most desirable real estate markets in the world. 4

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6 PROPERTY INFORMATION ADDRESS Santa Monica Blvd, Santa Monica, CA CROSS STREETS BUILDING SIZE LAND SIZE Santa Monica Boulevard and Berkeley Street ± 5,494-square feet ± 7,497-square feet APN PARKING BUILT 1955; renovated in 1980 Six (6) spaces; temporary structures can be removed for more parking spaces ZONING USES OWNERSHIP SMC4 Mixed-Use (property will be delivered vacant upon close of escrow) Fee Simple ASKING PRICE $4,400,000 $4,150,000 6

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9 PROPERTY HIGHLIGHTS Prime location along Santa Monica Boulevard with a superb traffic count of over 28,000 cars traveling past on a daily basis High visible building on signalized corner Amenity rich area and pedestrian friendly sidewalks Dedicated rear parking lot with alley access and ample street parking Close proximity to Downtown Santa Monica, Santa Monica Pier, and beach Surrounded by dense residential in highly affluent demographic Easy access to 405 FWY, 10 & 405 FWY Interchange, and PCH Approximately one (1) mile SW from the 26th Street/Bergamont Metro Expo Line station 9

10 AREA MAP PACIFIC PALISADES SANTA MONICA SANTA MONICA BOULEVARD PACIFIC COAST HIGHWAY THIRD STREET PROMENADE SANTA MONICA PIER 10

11 WESTWOOD BRENTWOOD CENTURY CITY SAN DIEGO (I-405) FREEWAY SANTA MONICA BLVD WEST L.A. SANTA MONICA (I-10) FREEWAY 11

12 AREA AMENITIES SANTA MONICA BLVD a sanctuary for healing *Select immediate area amenities 12

13 AREA OVERVIEW Santa Monica is Southern California s premier coastal destination for business, entertainment, shopping, and upscale housing. Consisting of 8.5 square miles, Santa Monica is bordered by the Pacific Ocean on the west and features 3-miles of scenic coastline along Santa Monica Bay. Bordering cities include the Pacific Palisades to the north, Brentwood and West Los Angeles to the east, and Venice to the south. Santa Monica is one of the oldest cities in Los Angeles County and has become a major business center and high-end residential locale, as well as a popular restaurant and entertainment district. The city of Santa Monica has experienced tremendous growth as a dining and entertainment center serving the Los Angeles area. The city has been actively redeveloping its core, transforming historic and functionally outdated buildings into trendy retail and entertainment venues, including a $50 million restoration of the iconic City Hall building, a $55 million, seven acre redesign of Palisades Park, and the $265 million renovation of the Santa Monica Place mall, which is adjacent Third Street Promenade, the city s premier retail and entertainment hub and tourist attraction. Santa Monica has experienced a boom since the late 1980s through the revitalization of its downtown core, significant job growth and increased tourism, facets that have all exploded thanks to the emergence of the booming tech industry which has engulfed the area in what is known today as Silicon Beach. Silicon Beach is home to over 500 tech startups, major technology & media corporate giants like, Facebook, Google, Snapchat, and HBO. Silicon Beach s growth has fed an influx of residents, businesses and tourists alike looking for that combination of activity, the beach vibe and artsiness that s long been associated with the area. The effect has led to a rise in housing and rental prices, a spike in employment rates, and revitalized interest in development projects, which experts forecast will continue to thrive with no signs of slowing in the near future. 13

14 SANTA MONICA, CA S ANTA M ONICA B OULEVARD FOR MORE INFORMATION CONTACT: FOR SALE 1515 Sepulveda Blvd. Los Angeles, CA P Company BRE# T.C. Macker, CCIM President & Managing Director D tcmacker@westmac.com BRE# Christian C. Holland Executive Vice President D holland@westmac.com BRE#