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Socal Retail Strip Center | 100% Occupied 3401 Cherry Ave 5,250 SF 100% Leased Retail Building Long Beach, CA 90807 $3,505,000 ($667.62/SF) 5.20% Cap Rate
Investment Highlights
- 100% Occupied Multi-Tenant Strip | NNN Leases | 4 Tenants | 4.2-Year WALT | Stable In-Place Cash Flow
- Surrounded by Major Retailers | Dense Long Beach Retail Corridor | Right Next to Long Beach Airport (1 Mile From Terminal)
- Signalized, Hard Corner Intersection | Cherry Ave (38,300 VPD) & E Wardlow Rd (20,600 VPD) | Proximity to I-405 (252,000 VPD)
- Affluent, Dense Long Beach Trade Area | Strong Infill Demographics & Workforce Base
Executive Summary
SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 100% occupied, multi-tenant retail strip located at 3401 Cherry Avenue in Long Beach, California. The property is NNN-leased to a complementary mix of neighborhood-serving tenants including Donut Island, Pita Pitaki, Aki Sushi, and Junior Mex, providing stable in-place cash flow and a diversified rent roll. The property has a 4.2-year weighted average lease term (WALT), reducing the risk of near-term rollover. The Leases are structured as NNN in nature, reducing the risk of expense leakage for a future investor.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,250 SF
Building Class
B
Year Built
2003
Price
$3,505,000
Price Per SF
$667.62
Cap Rate
5.20%
NOI
$182,214
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.26
Lot Size
0.46 AC
Zoning
CAN
Parking
26 Spaces (4.95 Spaces per 1,000 SF Leased)
Frontage
188’ on Cherry Ave
Amenities
- Corner Lot
- Dedicated Turn Lane
- Freeway Visibility
- Restaurant
- Signage
- Signalized Intersection
- Monument Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 7147-026-019 | Improvements Assessment | $2,639,380 |
| Land Assessment | $1,915,893 | Total Assessment | $4,555,273 |
Property Taxes
Parcel Number
7147-026-019
Land Assessment
$1,915,893
Improvements Assessment
$2,639,380
Total Assessment
$4,555,273
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Socal Retail Strip Center | 100% Occupied | 3401 Cherry Ave
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