A 25,346-square-foot two-story retail and office building at 10401–10419 Venice Boulevard in Santa Monica has been brought to market. The property is being offered for $10.97 million, which equates to roughly $433 per square foot. Muselli Commercial Realtors, which is representing the seller, has announced that the site is listed on a fee-simple basis with a reported in-place cap rate of 4.54 percent. The building consists of 10,346 square feet of ground-floor retail across nine units, and 15,000 square feet of office space on the second level.
Current leasing records show nearly 28 percent vacancy rate on the office floor, suggesting the potential for near-term revenue growth through lease-up or owner-user occupancy. According to listing details, the office portion can be made fully available to an incoming owner. Built in 1987/88, the building features glass-lined exteriors and private patios. Onsite parking includes 28 surface spaces allocated to retail tenants, with an additional 45 parking spaces in a subterranean garage, subject to verification. The total lot size is approximately 23,880 square feet, with the structure offering 140 linear feet of frontage along Venice Boulevard, with alley access at the rear and west sides of the site.
The broker notes that the property is zoned MU(EC) under the City of Los Angeles’ Exposition Corridor zoning plan, which permits mixed-use development. Marketing materials state that the site carries a development potential of up to 86,098 square feet, though further entitlements and design approvals would be required. Positioned at the intersection of Venice Boulevard and Motor Avenue, the building lies within walking distance of Downtown Culver City and nearby transit options. Brokers also point out the location’s proximity to established commercial corridors and its accessibility via public transportation, potentially supporting a range of future use scenarios including creative office, residential conversion, or redevelopment.
Muselli Commercial Realtors’ Evan Pozarny and Vince Muselli are handling the listing.
Earlier this year, a 28,000-square-foot mixed-use office and retail building at 3122 Santa Monica Boulevard was listed for $12.5 million, or roughly $446 per square foot. Situated on a 0.32-acre site, the three-story property is currently 42 percent leased, offering both immediate cash flow and occupancy potential. Marketing materials highlight the ability for a buyer to occupy over 51 percent of the space, making the asset eligible for SBA financing. The building includes 48 parking spaces distributed across ground-level, rear, and second-floor areas, supporting tenant accessibility in a well-trafficked West Los Angeles corridor.
