West Elm — Sale in Santa Monica, CA

  • Price: $28.2M
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Santa Monica, CA 90401
  • Size: 24,705 SF

Photos

West Elm — Sale in Santa Monica, CA, photo 1 of 3
West Elm — Sale in Santa Monica, CA, photo 2 of 3
West Elm — Sale in Santa Monica, CA, photo 3 of 3

Investment Figures

Price per square foot
$1,140

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Newmark Pacific Capital Markets is pleased to present to qualified investors with the rare opportunity to acquire a core single tenant West Elm ("Property") in the exclusive Southern California coastal community of Santa Monica. The Property is comprised of 24,705 square feet of improvements on a 0.38-acre parcel fronting 4th Street between Santa Monica Boulevard and Broadway. This core location is within the heart of Santa Monica’s commercial and pedestrian friendly district that includes the famous 3rd Street Promenade and Santa Monica Place, the primary shopping destination in the area. West Elm committed to a 12-year lease expiring in 2031 with 3% annual increases, providing a strong hedge against inflation. West Elm is a wholly owned subsidiary of Williams-Sonoma, Inc (NYSE:WSM), a $18.3 billion dollar market cap company with TTM revenues exceeding $8.7 billion. The West Elm lease is fully guaranteed by Williams-Sonoma, Inc, providing investors with ultimate security and stability. Santa Monica is the most recognized and visited coastal communities in Southern California. It is home to a dense and diverse consumer base and daytime population. The outstanding demographic profile of this submarket includes 168,946 people with AHHI exceeding $184,000 within 3-miles and over 407,200 people with an AHHI exceeding $180,500 within 5-miles. This is a very rare opportunity to acquire a core and credit single tenant asset in arguably one of the highest barriers to entry submarkets in Los Angeles.

Market Context

This retail in Santa Monica, CA is listed for sale at $28,175,000 across 24,705 SF. Compare it against other retail listings for sale in Santa Monica, CA — view the full market.

As of Q2 2026, the Greater Los Angeles retail market showed a 5.6% vacancy rate, and average asking rents near $34.14/SF/yr. Source: multiple brokerage reports, Q2 2026.

Tight vacancy keeps competition for quality space elevated.

Retail market FAQ

Is the Greater Los Angeles retail market tightening or softening?
Vacancy is around 5.6% (Q2 2026).

Estimated Price per SF

$237.99/SF – $1,731/SF

Mid: $721.17/SF

Estimated price for 24,705 SF: $17,816,505 (range $5,879,543 – $42,759,661)

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.

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