A prime commercial property located at 1231 4th Street in Santa Monica, California, has been sold for $3,044,250, brokered by WESTMAC Commercial Brokerage Company. The transaction involves a two-story building situated in the heart of downtown, just one block from the popular Third Street Promenade.
The property, previously operating as a yoga studio, encompasses approximately 6,270 square feet of building space on a 6,007 square foot lot. Its features include high ceilings, multiple office spaces, and rear parking, making it an attractive investment for an owner-user seeking a versatile commercial space.
The sale was the result of a collaborative effort by WESTMAC's team, including T.C. Macker, CCIM, Willa McNamarra Fields, Mike Rago, Woody Cook, and Colin Fields, who represented the seller. Grant La Spada and David Toomey of Cushman & Wakefield represented the buyer.
This transaction reflects the ongoing dynamism of Santa Monica's commercial real estate market. The property's location and flexible design suggest potential for various business uses, from professional offices to boutique retail, indicating the continued economic resilience of the area.
T.C. Macker emphasized the transaction's significance, noting the opportunity for the new owner to contribute to the neighborhood's vibrancy and potentially reimagine the property's purpose. The sale underscores the value of strategic commercial real estate investments in prime urban locations.
