Kings Head Pub Building Is On Sale for $20 Million in Downtown Santa Monica

If you’ve ever dreamed of paying $20 million to sell $15 pints of beer, now’s your chance. Here’s the listing:

“For the first time in over 30 years, the prime corner property at 116 Santa Monica Blvd., at the intersection of 2nd Street and Santa Monica, is available. Exclusively listed by MEI Real Estate Services, this redevelopment opportunity includes full building plans and provides a developer with over $52K/month in existing income while finalizing entitlements and permits. Ye Olde Kings Head, the sole tenant, has occupied the 6,900 SF property for nearly 25 years. The corner lot measures 7,500 SF. The Offering Memorandum will be available in September. Zoning is SMBSC4*; *Buyer to verify all details. Please DO NOT DISTURB TENANT; contact agents for more information.”

The building spans 6,900 square feet, with a lot size of about 0.17 acres (around 8,000 square feet), ideal for constructing an apartment tower that may not attract tenants at $6,000 a month for a studio.

View of Kings Head from 2nd Street

“Ye Olde Kings Head, 1402 2nd St, 6,900 SF Retail Building, Santa Monica, CA 90401, $20,000,000 ($2,899/SF), 3.15% Cap Rate.”

The pub serves as a hub for the British expatriate community. British pub names often reference everything from agricultural items to historical figures, events, occupations, and sports, with “Kings Head” and “Ye Olde Kings Head” being among the most common.

Over the years, celebrities visiting the Pub have been photographed and place on the walls, Oasis, Rod Stewart, Tom Jones and Pete Townshend to name a few.

The listing may be seen at https://www.loopnet.com/Listing/1402-2nd-St-Santa-Monica-CA/32924368/. It's titled: "Ye Olde Kings Head 1402 2nd St 6,900 SF Retail Building Santa Monica, CA 90401 $20,000,000 ($2,899/SF)3.15% Cap Rate."