Long Beach, CA 90806 2035 Pacific Avenue
$697,000
21 more
Presented By: Oron Maher with Maher Commercial Realty
Home Details
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 $1.80 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 $196 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.
Presented By: Oron Maher with Maher Commercial Realty
Interior Features for 2035 Pacific Avenue
Bathrooms
Total Baths
Other Interior Features
Street SuffixAvenue
Total Stories1
General for 2035 Pacific Avenue
Buyer Agent Compensation2.000
Buyer Agent Compensation Type%
CityLong Beach
CountyLos Angeles
Days on Market75
DirectionsOn Pacific Ave between W. Willard Street and 20th Street
HOA
Lot Size Square Feet4672
MLS Area5 - Wrigley Area
Property TypeCommercial Sale
Standard StatusActive
StatusActive
Street NamePacific
Total Units2
Year Built1948
ZoningLBCNP
Exterior for 2035 Pacific Avenue
Building Area Total3560
Lot Size Acres0.1073
Lot Size Area4672
Lot Size SourceOther
Lot Size UnitsSquare Feet
Number of Buildings1
Total Parking4
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480