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632 Redondo Ave
Long Beach, CA 90814
Retail Property For Sale
Investment Highlights
- $344 Per Square Foot
- Below Market Rents
- Smart & Final Anchor Bolstered by Subway and a Mix of Service and Restaurant Tenants
- Established Grocery Anchor with Strong Sales
- 34,899 SF Neighborhood Shopping Center in Prime Long Beach
- Shadow-Anchored by Petco Unleashed
Executive Summary
Net Lease Investment Opportunity in Prime Long Beach. Situated on a multi-acre lot, this 34,899 SF neighborhood center is anchored by Smart & Final, joined by Subway and a mix of service and restaurant tenants, adjacent to Unleashed by Petco. The high-visibility property resides along Redondo Avenue, an active north-south thoroughfare, serving the surrounding densely populated residential neighborhoods of southeast Long Beach.
The high-volume sales grocery anchor attracts consistent daily consumer traffic, further complemented by a necessity-based tenant mix proven to generate repeat visits. Easily accessible with ample parking in the sprawling on-site lot, the property is a convenient retail destination, popular among area residents.
An outstanding opportunity for commercial property investors looking to add a stable, needs-based asset in an established trade area with a nationally recognized anchor, strong local demographics, and long-term upside to their CRE portfolio.
The high-volume sales grocery anchor attracts consistent daily consumer traffic, further complemented by a necessity-based tenant mix proven to generate repeat visits. Easily accessible with ample parking in the sprawling on-site lot, the property is a convenient retail destination, popular among area residents.
An outstanding opportunity for commercial property investors looking to add a stable, needs-based asset in an established trade area with a nationally recognized anchor, strong local demographics, and long-term upside to their CRE portfolio.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
34,899 SF
Building Class
C
Year Built
1964
Price
$12,000,000
Price Per SF
$343.85
Cap Rate
6.13%
NOI
$735,516
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.35
Lot Size
2.27 AC
Zoning
CCA, Long Beach
Parking
134 Spaces (3.84 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Restaurant
- Signage
Property Taxes
| Parcel Number | 7258-026-028 | Improvements Assessment | $1,269,585 |
| Land Assessment | $1,448,585 | Total Assessment | $2,718,170 |
Property Taxes
Parcel Number
7258-026-028
Land Assessment
$1,448,585
Improvements Assessment
$1,269,585
Total Assessment
$2,718,170
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