$182.30 Per Sq Foot $3,484 est/mo Sourced by Back At You

2035 Pacific Avenue,Long Beach, CA 90806

Long Beach CA, 90806

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Description

Live/work and medical/dental conversion allowed per the City of Long Beach. Owner Would Consider Carry-Bank Financing to Qualified Buyers. We are please to present this renovated and vacant in-fill retail building on the highly trafficked Pacific Avenue retail corridor in Long Beach's famed South Wrigley shopping corridor. The property is located just blocks from the Northgate Market, The Wrigley Tavern, Happy Thai, Wicked Wolf Long Beach, Gaucho Beach Cafe and Gabriel's Burgers. This fully vacant building is also offered for lease at $1.38 per square foot, modified gross, making this a pro forma 9.4% cap rate upon stabilization. The building has been renovated and includes a roof replacement with a 5 year warranty, clean interiors, new HVAC systems in each retail unit and common area, four car parking in the rear, a roll-up door in the rear, high ceilings, 40' of frontage on Pacific Ave, a 600 AMP electrical panel that is not currently connected, fresh paint, and a clean interior. Flexible LBCNP zoning allows for several uses including live-work lofts, restaurants and professional offices. This is perfect for an owner-user wanting to take advantage of SBA or other commercial financing opportunities, or an investor wanting to collect a 9.4% stabilized cap rate return upon completion of building lease-up. At $182 per square foot, the building falls in line with the average price per square foot for other retail buildings along the Pacific corridor, but is better located than the average building on the corridor. Owner is a licensed California Real Estate Broker.

Details

MLS#24354181
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1948
Days On Site170
Listing Provided ByMaher Commercial Realty 310-464-1453 | Oron Maher
Buying Commision$0

Features

SQ Feet3,560
Story(s)1
Units2
Building(s)1
ZoningLBCNP
Acreage0.11

Market Activity 90806

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.

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Listings Checked: 1 minute ago
StateCA
CountyLos Angeles
CityLong Beach
Zip Code90806
Area5 Wrigley Area
Listing VS Median (in 90806)
Price:
$649,000
low | high
Med:
$850,000
19.029275808937% of Average
SqFt:
3,560
low | high
Med:
3,750
44.662921348315% of Average
$ / SqFt:
$182
low | high
Med:
$227
25.665125834617% of Average
On Site:
170
low | high
Med:
62.000000
100% of Average
Sourced by Back At You
Listing Updated: June 24, 2024 at 1:26:16 PM PDT