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Third Street Promenade 1241-1245 3rd St 7,500 SF of Retail Space Available in Santa Monica, CA 90401
HIGHLIGHTS
- Major Retail Destination; Heavy Foot Traffic; Tourism Area; Visible to Arizona Ave; Elevated Blade Sign; High Ceilings
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- CEILING
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Ceiling | Term | Rental Rate | Rent Type | |
| Ground | 7,500 SF | 18’ | 3-10 Years | $99.68 CAD/SF/YR $8.31 CAD/SF/MO $747,630 CAD/YR $62,303 CAD/MO | Triple Net (NNN) |
1254 3rd Street Promenade - Ground
Ground Floor: ~7,500 SF (~50 ft wide x ~ 150 ft deep) Mezzanine: ~1,819 SF Rent & NNN based on Ground Floor space of 7,500 SF only; no additional charge for Mezzanine
- Lease rate does not include utilities, property expenses or building services
- Partially Built-Out as Standard Retail Space
- Located in-line with other retail
- Central Air and Heating
- Private Restrooms
- High Ceilings
- Finished Ceilings: 18’
- Great location with heavy foot traffic.
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS
| Total Space Available | 7,500 SF | Frontage | Third Street Promenade |
| Center Type | Neighborhood Center | Gross Leasable Area | 655,877 SF |
| Parking | 143 Spaces | Total Land Area | 11.99 AC |
| Center Properties | 52 | Year Built | 1990 |
| Total Space Available | 7,500 SF |
| Center Type | Neighborhood Center |
| Parking | 143 Spaces |
| Center Properties | 52 |
| Frontage | Third Street Promenade |
| Gross Leasable Area | 655,877 SF |
| Total Land Area | 11.99 AC |
| Year Built | 1990 |
ABOUT THE PROPERTY
Prime Third Street Promenade retail storefront with approx. 7,500 SF (50' wide x 150' deep) on Ground Level (single level throughout) and approx. 1,819 SF on Mezzanine(single level throughout). All glass storefront, double door entry, front motorized roll-up security gate. Small rear roll-up door, exterior trash area. 2 handicap restrooms downstairs in rear, 1 handicap restroom upstairs. Located on desirable west (shaded) side of Third Street Promenade just north of corner with Arizona Ave.
- Bus Line
NEARBY MAJOR RETAILERS
Presented by
Hillcrest Realty Advisors
Third Street Promenade | 1241-1245 3rd St
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