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389-395 Redondo Ave 3,675 SF 100% Leased Retail Building Long Beach, CA 90814 $2,150,000 ($585.03/SF) 4.98% Cap Rate
Investment Highlights
- 100% Occupied Multi-Tenant Retail Asset | Three (3) Tenants | NNN Leases
- Strong, Stable Cash Flow with 3% Annual Rental Increases
- Prime Belmont Heights Location with Potential Future Development Upside
- First Time on the Market in Over 40 Years – Generational Ownership
- Established Tenant Base with Long-Term Occupancy and Proven Performance
- Signalized Hard Corner Intersection at Redondo Ave & 4th Street
Executive Summary
Pabst, Kinney & Associates, Inc. is pleased to present the offering of 389 Redondo Avenue in Long Beach, California—available for sale for the first time in over 40 years. This well-maintained, multi-tenant retail property is anchored by Domino’s Pizza and consists of approximately 3,675 square feet of improvements situated on a 13,129 square foot lot.
The property features a strong and established tenant mix, including Domino’s Pizza (since 2001), Granny’s Donuts (since 1995), and a long-standing dental office. Over the past 15 years, the property has experienced zero vacancy, underscoring the stability and long-term success of its tenancy.
The site offers 21 surface parking spaces and benefits from approximately 122 feet of frontage along Redondo Avenue. Strategically located in the highly desirable Belmont Heights neighborhood, the property sits at a signalized, high-traffic intersection at Redondo Avenue and 4th Street, providing excellent visibility and consistent consumer traffic.
This is a rare opportunity to acquire a true pride-of-ownership retail asset in one of Long Beach’s most sought-after coastal submarkets
The property features a strong and established tenant mix, including Domino’s Pizza (since 2001), Granny’s Donuts (since 1995), and a long-standing dental office. Over the past 15 years, the property has experienced zero vacancy, underscoring the stability and long-term success of its tenancy.
The site offers 21 surface parking spaces and benefits from approximately 122 feet of frontage along Redondo Avenue. Strategically located in the highly desirable Belmont Heights neighborhood, the property sits at a signalized, high-traffic intersection at Redondo Avenue and 4th Street, providing excellent visibility and consistent consumer traffic.
This is a rare opportunity to acquire a true pride-of-ownership retail asset in one of Long Beach’s most sought-after coastal submarkets
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,675 SF
Building Class
C
Year Built
1986
Price
$2,150,000
Price Per SF
$585.03
Cap Rate
4.98%
NOI
$107,070
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.28
Lot Size
0.30 AC
Zoning
LBCNR
Parking
21 Spaces (5.71 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signalized Intersection
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 7257-014-028 | Improvements Assessment | $0 |
| Land Assessment | $388,886 | Total Assessment | $388,886 |
Property Taxes
Parcel Number
7257-014-028
Land Assessment
$388,886
Improvements Assessment
$0
Total Assessment
$388,886
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389-395 Redondo Ave