PRIME NNN Restaurant in Santa Monica, CA 1519 Wilshire Blvd 9,000 SF Retail Building Santa Monica, CA 90403 £6,423,450 (£713.72/SF) 5.91% Net Initial Yield

Matthew Luchs of Zacuto Group is exclusively marketing for sale 1519 Wilshire Blvd, a 9,000 SF, single-tenant restaurant, 100% occupied by Culichitown DBA La Condesa. The property is situated on 4,996 SF of land in the city of Santa Monica. The sale includes all furniture, fixtures,& equipment, with the potential to purchase the Type 47 liquor license & CUP.
1519 Wilshire Blvd is 100% leased to Culichitown, which is currently on a NNN lease paying $41,830 per month ($4.75/SF) with annual rent increases of the greater of 4% or CPI. Culichitown has successfully operated at this location since 2021 & has 1.22 years of term remaining, set to expire on May 31, 2026, with two 5-year options. Culichitown is modern Mexican cuisine brought to life by the culinary genius of chef, Misael Guerrero. With a passion for both tradition & innovation, Culichi Town was born as Chef Misael’s vision to create a dining experience that marries the authentic flavors of Mexico with contemporary culinary artistry. The property benefits from ample metered street parking as well as 21 paid city parking spaces in the lot directly behind the restaurant. A Type-47 ABC License may be purchased separately.
1519 Wilshire is located one parcel south of the SW corner of Wilshire Blvd + 16th St in the heart of Santa Monica, directly across the street from UCLA Santa Monica Medical Center & caddy-corner from Target. The property is situated in a prime location, surrounded by nationally recognized retailers & amenities catering to the affluent local community. The area’s high household income, dense population, & prestigious residential properties contribute to its desirability & vibrancy.
Santa Monica is one of Southern California’s strongest submarkets, attracting high-end retailers, restaurants, and a host of national credit tenants. Wilshire Boulevard is a prominent corridor where you will find a mix of Class-A high-rise office buildings, chef-driven dining spots, mom-and-pop bakeries, old Mexican eateries, and a selection of vintage and designer consignment stores.
National tenants in the immediate submarket include Target, Vons, Rite Aid, US Bank, Bank of America, UCLA Santa Monica Medical Center, ULTA Beauty, Ortho Mattress, Subway, and many others. The immediate submarket attracts celebrities, athletes, and business professionals drawn to the high-end, prestigious homes in the area. This affluent submarket boasts an average household income exceeding $139,000 within one mile of the property. There are over 22,208 households within one mile, 96,000 within three miles, & 199,000 within five miles of the property.