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$700,000.00 PRICE REDUCTION - 100% VACANT Mixed use, Bar-Restaurant on the ground floor with a 2 bed 1 bath residential upstairs. Previously the home of LA Draughts and Santino's restaurant. In 2009 the building was virtually demolished due to a fire and it was rebuilt from the ground up to the 2009 building codes, including earthquake retrofitting, 750 Grease trap installed, Fire Sprinkler system, Infiltration pits, Air Conditioning, ADA approved (as of final inspection date). open flame cooking with hood. This property is ready to go for either fine dining or fast food. Seller and previous tenant states that the entire rear patio, including the 3 parking spaces is permitted for a patio. Permitted for 2 outdoor tables at front of property. All tenants previous tenants have had a beer and wine license. Roofing was recently coated. This is a very rare opportunity to own a bar restaurant / residential delivered vacant in Santa Monica, across the street from Whole foods on Lincoln Blvd in the heart of Santa Monica. As of April 13th 2024 the city of Santa Monica issued an "Alcohol Determination zoning conformance review" for a State ABC type 47 Alcohol license. Lincoln Boulevard Development Overview (Venice to Santa Monica, CA)Lincoln Boulevard, stretching from Venice to Santa Monica, has undergone significant transformation over the past five years, with numerous mixed-use developments completed, under construction, or in the planning stages. These projects have revitalized the corridor, making it one of the most dynamic and desirable areas in Los Angeles. Below is a detailed overview of the developments that have contributed to the area's growth and why your property at 3021 Lincoln Blvd, Santa Monica, CA 90405 is poised to appreciate significantly as a result.Completed Developments1. The Lincoln - Located at 1501 Lincoln Blvd, Santa Monica, this mixed-use development features 60 residential units above ground-floor retail spaces. Completed in 2020, it has become a hub for local businesses and residents, setting a precedent for future projects.2. The Shay - Situated at 1541 Lincoln Blvd, this development includes 195 apartments, a Whole Foods Market, and additional retail spaces. Completed in 2019, it has significantly increased foot traffic and economic activity in the area.3. Lincoln & Pico Mixed-Use Project - Located at 2901 Lincoln Blvd, this project added 50 residential units and ground-floor commercial spaces. Completed in 2021, it has contributed to the growing demand for housing and retail in the area.4. Venice V Apartments - At 123 Lincoln Blvd, Venice, this development features 140 residential units and ground-floor retail. Completed in 2022, it has enhanced the northern end of Lincoln Boulevard, attracting young professionals and families. Under Construction1. Lincoln Yards - A large-scale mixed-use development at 2000 Lincoln Blvd, featuring 300 residential units, retail spaces, and public plazas. Expected completion in 2026, this project is already driving interest in the surrounding area.2. Ocean Park Mixed-Use Project - Located at 2801 Lincoln Blvd, this development will include 120 residential units and ground-floor retail. Slated for completion in late 2025, it is expected to further boost property values in the vicinity.3. Venice Gateway - At 100 Lincoln Blvd, Venice, this project will add 80 residential units and commercial spaces. Under construction and expected to be completed by 2026, it is part of the broader effort to modernize the northern stretch of Lincoln Boulevard.Planned Developments1. Lincoln & Rose Mixed-Use Project - A proposed development at 2501 Lincoln Blvd, featuring 90 residential units and ground-floor retail.

Details

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Interior

Market Activity 90405

MLS Number: 25496671

Listing Provided By: Lee Tonks – lee@tonksagency.com

Tonks Agency Inc, – (310) 980-3979