1303 MAIN STREET
PRICE
BUILDING SIZE
VENICE, CA 90291
$1,800,000
1,675 SF
LOT SIZE
3,674 SF
CAP RATE
PARKING
ZONING
6.82%
10 SPACES
C4-1
The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 1303 Main Street, Venice, California: a single-story creative headquarters at the southwest corner of Main Street and Westminster Avenue, two blocks from the Pacific. The 1,675 SF building sits on 3,674 SF of land with 10 parking spaces reached from Westminster Avenue, zoned C4-1 in the Venice Coastal Zone, and is offered without a lease the buyer must inherit.
The occupant, an affiliate of ownership, pays $12,500 a month on a modified gross basis and will sign a longer-term lease on the buyer’s terms, remain month to month, or deliver the building vacant at the close of escrow. An owner-user can acquire it as its own headquarters with 10% down under SBA 504, subject to lender approval.
Westminster Avenue runs 997 feet from the corner to the sand at Ocean Front Walk. Big Blue Bus Line 1 stops at the corner, and the Venice Boardwalk, Muscle Beach and Abbot Kinney Boulevard are a walk away. Walk Score 92 at Main and Westminster, and a $142,217 average household income within one mile (2021 estimate).
Offered at $1,800,000: $1,075 per SF of building and $490 per SF of land. At today’s rent the Property returns a 6.82% cap rate, a $122,789 NOI after the property tax and insurance ownership pays. C4-1 allows up to 1.5:1 FAR with residential, against 0.46:1 built today, subject to the Venice Coastal Zone Specific Plan.