Commercial Property for Sale in Long Beach California 90805
2635 E South St, Long Beach, California 90805
$7,300,000
$2,433 / sq ft 6.91% cap rate Listed Dec 30, 2024
3,000 sqft
Building
1976
Built
1
Stories
118
Parking
1
Units
Class B
Class
About this property
Commercial Property for Sale in Long Beach California 90805 is an industrial for sale in Long Beach, California, listed at $7,300,000. Key details: year built 1976, building size 3,000 sqft, stories 1, parking spaces 118. Listed by Max Finn of SRS Real State Partners on LoopingCloud and last updated December 30, 2024.
Description:
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, United Rentals investment property located in Long Beach, California. The tenant, United Rentals, has over 4.5 years remaining on their lease term with 3 (5-year) options to extend. The lease features 2.5% annual rental increases during the initial term and option periods, growing NOI and hedging against inflation. The lease is NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor.
Location:
The subject property is located at the signalized, hard corner intersection of E. South St and Paramount Blvd with a combined 56,400 vehicles passing by daily. The site benefits from nearby direct on/off ramp access to State Hwy 91, a major thoroughfare averaging over 277,000 vehicles per day. The asset is ideally situated in close proximity to Lakewood Center Mall, a 2,070,000 SF regional mall anchored by Target, Costco, Home Depot, Macy’s, Dollar Tree, Albertson’s and many more. Other nearby national/credit tenants include Target, Starbucks, McDonald’s, Walmart Supercenter, PetCo, CVS Pharmacy, Michaels, Wendy’s and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by more than 674,000 residents and 236,000 employees, providing a direct consumer base from which to draw. Residents within a 5-mile radius of the subject property boast an affluent average household income of $105,046.
Key highlights
- Occupied
- Net Lease Investment
- Lot Size (acres) 1.73
- APN 7119-019-008 & 7119-019-009
Lending Opportunities
| Company | Lender type | Contact | Phone | |
|---|---|---|---|---|
| TheLoanProsTeam | Mortgage Broker | Roxanne Chung | (754) 707-5877 | |
| Money Solutions, LLC | Mortgage Broker | Jennifer A. Judice | (813) 431-5000 |
Property details
Key facts
- Year Built
- 1976
- Building Size
- 3,000 sqft
- Stories
- 1
- Parking Spaces
- 118
- Total Units
- 1
- Building Class
- Class B
- Occupied
- Yes
- Occupancy
- 100%
- Property Status
- Normal Sale
- Building Status
- Existing
- Net Lease Investment
- Yes
Pricing details
- Net Operating Income
- $504,300
- Financing
- Third Party Financing
- Investment Property
- Active investment property
Investment snapshot
6.91%
Cap rate
$504,300
Net operating income
$2,433
Price per sq ft
Acquisition options
| Option | Asking price | Cap rate | Commission | Monthly income | Ownership |
|---|---|---|---|---|---|
| Purchase Only | $7,300,000 | 6.91% | - | - | - |
Features and amenities
Property Features
- Lot Size (acres): 1.73
- Rent Bumps: 2.5% Annual Increases Throughout Initial Term & Options Thereafter
- APN: 7119-019-008 & 7119-019-009
- Investment Type: Net Lease - Lease Type: NNN
Location
Address as shown by the lister.
Get directionsAbout this area - Long Beach
- Population
- 91,663
- Housing units
- 27,693
- Land area
- 7.4 sq mi
- County
- Los Angeles
Neighborhood
Places shown on the map come from Google Maps and are near the property. Check details with each place before you rely on them.
Documents, links and contacts
Property documents
1 file to downloadAdditional contacts
1 person to reach- Jack Cornell - jack.cornell@srsre.comVice President - UT #: 9518385-SA00 (570) 762-6075
Frequently asked questions
What is the asking price of Commercial Property for Sale in Long Beach California 90805?
Commercial Property for Sale in Long Beach California 90805 is listed at $7,300,000. That works out to about $2,433 per square foot. The stated cap rate is 6.91%.
Where is Commercial Property for Sale in Long Beach California 90805 located?
The property is in 2635 E South St, Long Beach, California 90805, Los Angeles County.
What type of property is this?
This is an industrial for sale in the commercial category.
How big is the property?
The building is 3,000 sqft.
Is financing available?
The lister indicates: Third Party Financing.
Who do I contact about this listing?
Max Finn of SRS Real State Partners listed this property. Use the Request Info button to send a message or call (570) 762-6075.
When was this listing published?
It was published on December 30, 2024 and last updated on December 30, 2024.
Listing information
- Listing ID
- CL-California-13421
- Published
- Dec 30, 2024
- Last updated
- Dec 30, 2024
- Views
- 513
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