3570 Atlantic Ave 11,806 SF Retail Building Long Beach, CA 90807 $10,000,000 ($847.03/SF) 5.66% Cap Rate

Located on a dense and busy corridor within the city of Long Beach, the property is within close proximity to many national retail chains. The Long Beach Airport is slightly over one mile from the subject property. Cal Sate University Long Beach is less than five miles away. The average household income is $112,000 within one mile and the dense population within five miles is well over 600,000. The property’s signalized hard corner of Atlantic Avenue and 36th Street boasts an impressive 30,000 vehicles per day. This Walgreens is one of the first few locations with an electrical vehicle charging station installed.
The property has been leased to Walgreens for 75 years from December 27, 2003 to December 31, 2078 at a net annual rent of $566,000. Walgreens has the option to terminate the lease at the end of the 25th year and every five years thereafter. The lease is absolute triple-net in nature offering a true passive long-term investment with a credited tenant for the owner.