Updated Jul 13, 2026
Daniel Lee And Erwin Bucy Acquire Retail Asset In Santa Monica For $12.6M
3202-3250 Pico Blvd, Santa Monica, Ca 90405
$12,600,000
$741/SF
Building Size
17,000 SF
Asset Type
Retail
Closing
Jun 12, 2026
About this deal
AI
The asset involved in this transaction is a retail property located at 3202-3250 Pico Boulevard in the market of Santa Monica. The property spans a total square footage of 17,000 and was sold for a transaction amount of $12,600,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $12,600,000
- Address: 3202-3250 Pico Boulevard
- Market: Santa Monica
- Square Footage: 17,000
- Buyer: Daniel Lee & Erwin Bucy
- Seller: James Spear
- Brokers: Christine Baker, Kevin Bettinger & Erik Vogelzang - Matthews
The deal was facilitated by brokers Christine Baker, Kevin Bettinger, and Erik Vogelzang, who represented the respective parties in this transaction. The involvement of these brokers illustrates the collaborative efforts required to complete such property transactions.
On the Map
$12,600,000
$741/SF
Retail
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Players
Santa Monica Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.26%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93