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Bungalow Building 727-743 Pine Ave 13,600 SF 100% Leased Retail Building Long Beach, CA 90813 $3,495,000 ($256.99/SF) 7.20% Cap Rate
Investment Highlights
- Immediate Lease Up Opportunity: 2 vacant retail suites are move-in ready, providing immediate leasing potential without tenant relocation or downtime
- Turnkey Repositioning Opportunity: Month-to-month tenancy provides flexibility to curate an optimal tenant mix and establish a long-term NNN retail
- Located in Downtown Long Beach's $10B+ redevelopment corridor, benefiting from thousands of new residential units & 2028 Olympic-related investment
- Below Market Rent: Existing rents are substantially below market levels, allowing new owner to capture significant rental growth through new leasing
- Pro forma rental rates are positioned at the lower end of comparable Pine Avenue lease transactions, supporting an achievable leasing strategy
- 106' of highly visible frontage along Downtown Long Beach's primary retail corridor, offering exceptional exposure and pedestrian traffic
Executive Summary
The Bungalow Building is a rare value-add retail investment located along the premier Pine Avenue corridor in Downtown Long Beach. The property consists of a 13,600 SF multi-tenant retail building situated on a 15,817 SF PD-30 zoned lot, offering investors immediate cash flow upside through lease-up and long-term redevelopment potential. It is currently offered at $257/SF with a projected 7.20% stabilized cap rate.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
13,600 SF
Building Class
C
Year Built
1922
Price
$3,495,000
Price Per SF
$256.99
Cap Rate
7.20%
NOI
$251,514
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.86
Lot Size
0.36 AC
Opportunity Zone
Yes
Zoning
PD30 - PD-30 (Downtown); eligible for EDB & Inclusionary Housing - Opportunity Zone
Frontage
106’ on Pine Ave
Exceptionally walkable
90/100
Moderately drivable
70/100
Strong public transit
80/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 7273-023-007 | Improvements Assessment | $1,443,242 |
| Land Assessment | $3,332,193 | Total Assessment | $4,775,435 |
Property Taxes
Parcel Number
7273-023-007
Land Assessment
$3,332,193
Improvements Assessment
$1,443,242
Total Assessment
$4,775,435
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