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Oakley 1350 3rd Street Promenade 3,000 SF Retail Building Santa Monica, CA 90401 $6,000,000 ($2,000/SF) 6.23% Cap Rate
Investment Highlights
- Trophy Retail Investment Opportunity – With its Downtown Santa Monica location on Third Street Promenade
- High-Image “Flagship” Building – The property has proven to be viable for Oakley with high-quality design and architecture inside and out
- Dense, Affluent Coastal Demographics – More than 32,500 residents with AHI exceeding $166,500 within a 1-mile radius
- In-Place Publicly Traded Corporate Tenancy – Oakley has operated an extremely high-image flagship store at the property for over 11 years (since 2014)
- Significantly Below Market Rent – Current rent at the property is estimated to be approximately 91% below market levels
Executive Summary
* Trophy Retail Investment Opportunity – With its Downtown Santa Monica location on Third Street Promenade and the building’s extremely high-image interior and exterior architecture and improvements, this is legitimately “trophy” real estate and arguably one of the best buildings on Third Street Promenade
* In-Place Publicly Traded Corporate Tenancy – Oakley has operated an extremely high-image flagship store at the property for over 11 years (since 2014)
* Founded in 1975, Oakley is an American brand specializing in sports performance products including eyewear, apparel, and accessories, known for innovation and DIY mentality
* In 2007, Oakley was sold for approximately $2.1 billion to EssilorLuxottica, a global leader in the eyewear industry and publicly traded on Euronext Paris under the stock ticker symbol EL. For Q3 2025, there was a year-over-year revenue increase of 11.7% with North America up 12.1% compared to Q3 2024
* High-Image “Flagship” Building – The property has proven to be viable for Oakley for over 11 years – with extremely high-quality design and architecture inside and out, significant and open clear height, and Third Street Promenade location, the quality of the property speaks for itself appealing to many high-quality tenants and uses
* Significantly Below Market Rent – Current rent at the property is estimated to be approximately 91% below market levels, presenting an investor with the potential to re-tenant the property at significantly higher rent
* Dense, Affluent Coastal Demographics –
* More than 32,500 residents with AHI exceeding $166,500 within a 1-mile radius.
* More than 152,600 residents with AHI exceeding $196,900 within a 3-mile radius.
* More than 383,400 residents with AHI exceeding $191,900 within a 5-mile radius.
* In-Place Publicly Traded Corporate Tenancy – Oakley has operated an extremely high-image flagship store at the property for over 11 years (since 2014)
* Founded in 1975, Oakley is an American brand specializing in sports performance products including eyewear, apparel, and accessories, known for innovation and DIY mentality
* In 2007, Oakley was sold for approximately $2.1 billion to EssilorLuxottica, a global leader in the eyewear industry and publicly traded on Euronext Paris under the stock ticker symbol EL. For Q3 2025, there was a year-over-year revenue increase of 11.7% with North America up 12.1% compared to Q3 2024
* High-Image “Flagship” Building – The property has proven to be viable for Oakley for over 11 years – with extremely high-quality design and architecture inside and out, significant and open clear height, and Third Street Promenade location, the quality of the property speaks for itself appealing to many high-quality tenants and uses
* Significantly Below Market Rent – Current rent at the property is estimated to be approximately 91% below market levels, presenting an investor with the potential to re-tenant the property at significantly higher rent
* Dense, Affluent Coastal Demographics –
* More than 32,500 residents with AHI exceeding $166,500 within a 1-mile radius.
* More than 152,600 residents with AHI exceeding $196,900 within a 3-mile radius.
* More than 383,400 residents with AHI exceeding $191,900 within a 5-mile radius.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
3,000 SF
Building Class
C
Year Built/Renovated
1960/2014
Price
$6,000,000
Price Per SF
$2,000
Cap Rate
6.23%
NOI
$373,581
Tenancy
Single
Building Height
1 Story
Building FAR
0.98
Lot Size
0.07 AC
Zoning
SMBSC1 - Limited Commercial
Frontage
20’ on 3rd St Promenade
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Within walking distance from this location include restaurants, hotels, parks, beaches, and the world-famous Santa Monica Pier.
| Space | Size | Space Use | Position | Available |
| 1350 | 3,000 SF | Retail | In-Line | 120 Days |
1350
| Size |
| 3,000 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 120 Days |
1350
| Size | 3,000 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | 120 Days |
Within walking distance from this location include restaurants, hotels, parks, beaches, and the world-famous Santa Monica Pier.
Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (77)
Bike Score®
Very Bikeable (84)
Nearby Major Retailers
Property Taxes
| Parcel Number | 4291-013-010 | Improvements Assessment | $2,277,901 |
| Land Assessment | $1,429,755 | Total Assessment | $3,707,656 |
Property Taxes
Parcel Number
4291-013-010
Land Assessment
$1,429,755
Improvements Assessment
$2,277,901
Total Assessment
$3,707,656
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Oakley | 1350 3rd Street Promenade
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