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Prime Retail & Office | Local Landlord 1231 3rd Street Promenade 8,500 - 38,500 SF of 4-Star Space Available in Santa Monica, CA 90401
HIGHLIGHTS
- Former Adidas flagship with dramatic façade and modern presence
- Local, well-capitalized landlord
- Prime location on 3rd Street Promenade with over 4.5 million annual visitors
- Multiple Uses Possible
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| Basement | 10,000 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | TBD | ||
| 2nd Floor | 10,000 SF | Negotiable | $47.40 /SF/YR $3.95 /SF/MO $474,000 /YR $39,500 /MO | Modified Gross | ||
| 3rd Floor, Ste Roof | 8,500 SF | Negotiable | $47.40 /SF/YR $3.95 /SF/MO $402,900 /YR $33,575 /MO | Modified Gross |
Basement
Expansive basement space with functionality and access to restrooms.
- Fits 25 - 80 People
- Can be combined with additional space(s) for up to 38,500 SF of adjacent space
2nd Floor
2nd floor space with private ground floor entry. Dramatic ceiling height, front facing balcony, and renovation upside with possible use of rooftop. Currently in use as fitness facility.
- Listed rate may not include certain utilities, building services and property expenses
- Fits 25 - 80 People
- Space is in Excellent Condition
- Can be combined with additional space(s) for up to 38,500 SF of adjacent space
- Possible Use of Exclusive Rooftop
- Possible Use of Exclusive Rooftop
3rd Floor, Ste Roof
Rooftop space with potential for additional activation. Landlord willing to provide TI.
- Listed rate may not include certain utilities, building services and property expenses
- Fits 22 - 68 People
- Can be combined with additional space(s) for up to 38,500 SF of adjacent space
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| Basement | 10,000 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | TBD | ||
| 1st Floor | 10,000 SF | Negotiable | $57.00 /SF/YR $4.75 /SF/MO $570,000 /YR $47,500 /MO | Modified Gross | ||
| 2nd Floor | 10,000 SF | Negotiable | $47.40 /SF/YR $3.95 /SF/MO $474,000 /YR $39,500 /MO | Modified Gross | ||
| 3rd Floor, Ste Roof | 8,500 SF | Negotiable | $47.40 /SF/YR $3.95 /SF/MO $402,900 /YR $33,575 /MO | Modified Gross |
Basement
Expansive basement space with functionality and access to restrooms.
- Fits 25 - 80 People
- Can be combined with additional space(s) for up to 38,500 SF of adjacent space
1st Floor
1231 3rd Street sits in one of L.A.’s highest foot traffic locations with more than 4.5 million annual visitors. Steps to Wilshire Blvd, ideal for retail, fitness, or creative office, with potential for a roof deck. Locally owned visionary landlord. Ground floor space has attractive appeal with high volume foot traffic. Possible to lease complete building for one-of-a-kind HQ property or retail experience.
- Listed rate may not include certain utilities, building services and property expenses
- Can be combined with additional space(s) for up to 38,500 SF of adjacent space
- Excellent Promenade Visibility
- High Ceilings
- Modern + Renovated Space
2nd Floor
2nd floor space with private ground floor entry. Dramatic ceiling height, front facing balcony, and renovation upside with possible use of rooftop. Currently in use as fitness facility.
- Listed rate may not include certain utilities, building services and property expenses
- Fits 25 - 80 People
- Space is in Excellent Condition
- Can be combined with additional space(s) for up to 38,500 SF of adjacent space
- Possible Use of Exclusive Rooftop
- Possible Use of Exclusive Rooftop
3rd Floor, Ste Roof
Rooftop space with potential for additional activation. Landlord willing to provide TI.
- Listed rate may not include certain utilities, building services and property expenses
- Fits 22 - 68 People
- Can be combined with additional space(s) for up to 38,500 SF of adjacent space
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 | 38,500 SF | Gross Leasable Area | 38,500 SF |
| Property Type | Retail | Total Land Area | 0.24 AC |
| Property Subtype | Storefront | Year Built/Renovated | 1962/2000 |
| Total Space Available | 38,500 SF |
| Property Type | Retail |
| Property Subtype | Storefront |
| Gross Leasable Area | 38,500 SF |
| Total Land Area | 0.24 AC |
| Year Built/Renovated | 1962/2000 |
ABOUT THE PROPERTY
Positioned in the heart of one of Los Angeles’ most iconic pedestrian corridors, 1231 3rd Street Promenade offers a rare opportunity to lease a full-building presence in a high-visibility, high-foot-traffic location. With over 4.5 million annual visitors and a Walk Score of 96, this Santa Monica gem is ideal for retail, gym, or creative office users seeking a dynamic, amenity-rich environment. The building spans four levels, including a dramatic ground floor currently configured as a pickleball facility, a second floor and rooftop previously used for gym / fitness, and a basement with flexible potential. Ceiling heights range from 10’8” to over 15’, offering volume and adaptability for a variety of concepts. The rooftop presents a unique opportunity to activate outdoor space in a vibrant urban setting. Located steps from Wilshire Boulevard and surrounded by top-tier co-tenants like Apple, Hillstone, and Sugarfish, the property benefits from unmatched visibility and access to public parking structures. The landlord is local, experienced, and open to negotiable terms and tenant improvements, making this a compelling option for visionary operators.
NEARBY MAJOR RETAILERS
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Prime Retail & Office | Local Landlord | 1231 3rd Street Promenade
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