-
PACIFIC LONG BEACH, CA 90806
- Commercial / Owner Financing
Property Details for PACIFIC St, LONG BEACH, CA 90806
Features
- Price/sqft : View Details
- Lot Size : View Details
- Stories : View Details
- Construction Type : View Details
Facts
- Year Built : View Details
- Property ID : View Details
- MLS Number : View Details
- Parcel Number : View Details
- Property Type : View Details
- County : View Details
Description
This property is offered for sale with Owner Financing available. With Owner Financing, owners can offer flexible terms which allow buyers to purchase property without a traditional bank loan. This leaves more room for negotiation on loan terms and approvals.
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.
Real Estate Professional In Your Area
Are you a Real Estate Agent?
Get Premium leads by becoming a RealtyStore.com preferred agent for listings in your area
All information provided is deemed reliable, but is not guaranteed and should be independently verified.