Santa Monica Property at 1231 4th Street Sells for $3.04 Million

A prime commercial property located in the heart of downtown Santa Monica has been sold for $3,044,250, marking a significant real estate transaction in the area. The property at 1231 4th Street, a two-story building formerly used as a yoga studio, spans approximately 6,270 square feet on a 6,007 square foot lot.

The sale, arranged by WESTMAC Commercial Brokerage Company, involves an owner-user buyer who acquired the property near the popular Third Street Promenade. The building features high ceilings, multiple office spaces, and rear parking, presenting a versatile commercial space with significant potential for redevelopment or continued commercial use.

A team of WESTMAC brokers, including T.C. Macker, Willa McNamarra Fields, Mike Rago, Woody Cook, and Colin Fields, represented the seller in the transaction. The buyer was represented by Grant La Spada and David Toomey from Cushman & Wakefield.

T.C. Macker commented on the transaction, emphasizing the property's unique opportunity to contribute to the neighborhood's vibrancy and potential for reimagining its purpose. The sale reflects the continued dynamism of Santa Monica's commercial real estate market and the ongoing interest in properties located in highly desirable urban centers.

The transaction highlights the strategic value of well-located commercial properties in prime urban environments, particularly those offering flexible spaces that can adapt to changing business needs. For the new owner, the property represents not just a real estate investment, but a potential platform for business growth and community engagement.