1701 Long Beach Blvd 4,016 SF 100% Leased Retail Building Long Beach, CA 90813 $3,900,000 ($971.12/SF) 4.30% Cap Rate

This is an excellent development, investment, or owner-use opportunity. 1701 Long Beach Blvd is a prime development parcel situated on the Specific Plan Districts (SP-1-CDR, former PD 29). The Midtown Specific Plan provides a framework for the development and improvement of a 369-acre corridor along Long Beach Boulevard in the City of Long Beach. The Specific Plan is intended to be more flexible than conventional zoning to encourage new investment and development along the corridor.
The Corridor District encompasses properties along Long Beach Boulevard between the Blue Line stations and the 405 Freeway. It is intended to provide housing options and neighborhood-serving uses within walking distance of a transit node. Multifamily residential and mixed-use projects are in two- to four-story buildings. Single-use, neighborhood-serving uses occupy buildings between one and three stories. Heavy traffic volume, minutes to Metro Blue Line stations, close to freeways and beach, excellent exposure for business and easy access from Long Beach Blvd and Palmer Ct.