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Kraken Kafe 601 Pacific Ave S 3,744 SF 100% Leased Retail Building Long Beach, WA 98631 $999,900 ($267.07/SF) 7.07% Cap Rate
INVESTMENT HIGHLIGHTS
- 80 ft of Pacific Ave. frontage in the heart of downtown Long Beach.
- Turn-key business and property combo with plenty of off street parking.
- Multi-Use Zoning allows STR, Long term rentals, and Commercial use.
EXECUTIVE SUMMARY
LOCATION, LOCATION, LOCATION! This turn-key versatile multi-use property is the investment at the beach that you have been dreaming of! Completely remodeled in 2022 this prime piece of real estate boasts 80 ft of Pacific Ave. frontage perfectly positioned in the heart of downtown Long Beach. Flexible zoning allows for a variety of uses including but not limited to vacation rentals, restaurants and retail. All FOUR rental units are tastefully updated with vinyl plank flooring and fresh paint inside & out. The firepit, fenced yard & plenty of off street parking round out this solid investment. Step into the current owner's success or build on it and make your dreams a reality!
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,744 SF
Building Class
C
Year Built
1988
Price
$999,900
Price Per SF
$267.07
Cap Rate
7.07%
NOI
$70,723
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.31
Lot Size
0.28 AC
Zoning
UGA - OT Old Town District is to provide a compact retail core that will stimulate foot traffic, promote tourism and serve the needs of visitors.
Parking
8 Spaces (1.89 Spaces per 1,000 SF Leased)
Frontage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 10111633020 | Total Assessment | $539,100 (2025) |
| Land Assessment | $178,200 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $360,900 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
10111633020
Land Assessment
$178,200 (2025)
Improvements Assessment
$360,900 (2025)
Total Assessment
$539,100 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Kraken Kafe | 601 Pacific Ave S
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