Investment Highlights
Single Tenant Restaurant - An 8,800 square foot, single tenant restaurant in Santa Monica, CA
100% Occupied on a NNN Lease ? Fully leased to La Conde, an upscale sit-down Mexican restaurant with locations in Los Angeles and San Diego
Ample Public Parking ? plenty of metered street parking as well as 21 paid city parking spaces in the lot directly behind the restaurant
100% Occupied on a NNN Lease ? Fully leased to La Conde, an upscale sit-down Mexican restaurant with locations in Los Angeles and San Diego
Highly Trafficked Intersection ? Daily traffic counts in excess of 44,946 VPD
Excellent Visibility and Frontage ? Approximately 50? of frontage along Wilshire Boulevard directly across the street from Santa Monica UCLA Medical
Executive Summary
The Brandon Michaels Group of Marcus & Millichap has been selected exclusively to market for sale 1519 Wilshire Boulevard, an 8,800 square foot beautifully appointed single tenant restaurant, 100% occupied by La Conde. The property is situated on 4,996 square feet of land in the city of Santa Monica, CA. The sale includes all furniture, fixtures, & equipment with the potential to purchase the Type 47 liquor license & CUP. 1519 Wilshire Boulevard is fully leased to La Conde. La Conde is currently on a NNN lease paying $40,182 per month ($4.57/SF) with annual rent increases the greater of 4% or CPI. La Conde has successfully operated at this location since 2021 and has 2.19 years of term remaining, set to expire on 5/31/2026, with two 5-year options. La Conde is a Latin American cuisine with a fusion of eclectic plates and amazing mixology. The property benefits from plenty of metered street parking as well as 21 paid city parking spaces in the lot directly behind the restaurant. A Type-47 ABC License may be purchased separately. 1519 Wilshire Boulevard is located just one parcel South of the SW corner of Wilshire Boulevard and 16th Street in the heart of Santa Monica directly across the street from UCLA Santa Monica Medical Center, and caddy corner from Target. 1519 Wilshire Blvd is situated in a prime location in Santa Monica, surrounded by a mix of nationally recognized retailers and amenities catering to the affluent local community. The area?s high household income, dense population, and prestigious residential properties contribute to its desirability and vibrancy. Santa Monica is one of Southern California?s strongest sub-markets, attracting high-end retailers and restaurants and a host of national credit tenants. Wilshire Boulevard is a prominent Boulevard in Santa Monica where you will find a mix of Class-A high rise office buildings, many chef-driven dining spots, mom and pop bakeries, old Mexican eateries, and a smattering of vintage and designer consignment stores. National tenants in the immediate submarket include Target, Vons, Rite Aid, US Bank, Bank of America, UCLA Santa Monica Medical Center, ULTA Beauty, Ortho Mattress, Subway, and many others. The immediate sub-market draws the like of celebrities, athletes, and business professionals attracted to the high-end, prestigious homes in the immediate area. This highly affluent submarket boasts an average household income north of $139,000 within one mile of the property. There are over 22,208 households located within one mile of the property, 96,000 within three miles of the property, and 199,000 within five miles of the property. Over 42,000 people are located within one mile of the property, 194,000 people within three miles, and 427,000 within five miles.
