Ye Olde Kings Head 1402 2nd St 6,900 SF Retail Building Santa Monica, CA 90401 £15,075,600 (£2,184.87/SF) 3.15% Net Initial Yield
EXECUTIVE SUMMARY
For sale for the first time in over 30 years is the prime corner property at 116 Santa Monica Blvd., at the intersection of 2nd Street and Santa Monica just one block east of Ocean Avenue. Exclusively listed by MEI Real Estate Services, this redevelopment opportunity comes with full building plans and offers a developer over $52K/month in existing income while finalizing entitlements and permitting. Ye Olde Kings Head is the single tenant at this 6,900 SF property and they have occupied the building for almost 25 years. The corner lot is a 7,500 SF rectangle. THE PROPERTY ONLY IS FOR SALE, THE RESTAURANT IS ON A TERM LEASE AND WILL REMAIN OPEN TO THE PUBLIC FOR THE FORESEEABLE FUTURE. Zoning is SMBSC4*; *Buyer to verify all details. Please DO NOT DISTURB TENANT, please contact agents for details - thank you.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
Development Sale
Property Type
Retail
Property Subtype
Building Size
6,900 SF
Building Class
C
Year Built/Renovated
1925/2000
Price
£15,075,600
Price Per SF
£2,184.87
Net Initial Yield
3.15%
NOI
£474,377
Tenancy
Single
Number of Floors
1
Building FAR
0.91
Lot Size
0.17 AC
Zoning
SMBSC4* - Santa Monica Business Commercial. Zoning is SMBSC4*
Frontage
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Ye Olde King's Head
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Ye Olde King's Head | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (77)
Bike Score®
Very Bikeable (83)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 4291-015-001 | Improvements Assessment | £534,212 |
| Land Assessment | £883,010 | Total Assessment | £1,417,222 |
