Updated Oct 29, 2026
LEASEDRetail
Maurice Farzam & Nooshin Farzam Lease Retail Space To Flip1stGymnastics At 901 Santa Monica Boulevard
901 Santa Monica Boulevard
$38
$38/SF
Building Size
10,000 SF
Asset Type
Retail
Closing
Oct 19, 2026
About this deal
AI
The leased asset is located at 901 Santa Monica Boulevard, situated in the Santa Monica market. This retail property encompasses 10,000 square feet and operates under a NNN lease, with an asking rent of $35 per square foot over a term of 7 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $35/ft
- Lease Term: 7 years
- Square Footage: 10,000
- Address: 901 Santa Monica Boulevard
- Market: Santa Monica
- Landlord: Maurice Farzam & Nooshin Farzam
- Tenant: Flip1stGymnastics
- Landlord's Representative: Greg Offsay & Brandon Partieli - illi Commercial Real Estate
- Tenant's Representative: Michael Arnold - AHG
- Landlord Attorney: Simond Lavian - Law Offices of Simond Lavian, APC
- Tenant Attorney: Polsinelli PC - Brian Yeretzian & Andrew Peterson
This transaction involved multiple parties, with key representatives directly involved in the negotiations. Greg Offsay and Brandon Partieli represented the landlords, while Michael Arnold acted as the representative for the tenant, Flip1stGymnastics. Legal counsel included Simond Lavian for the landlords and Brian Yeretzian and Andrew Peterson for the tenant.
On the Map
$38
$38/SF
Retail
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Players
Santa Monica Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
417447.37%
Cash-on-Cash
-119307.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93