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$595,000

Est. payment - /mo

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3,560 SqFt

Active Under Contract

2035 Pacific AVE Long Beach, CA 90806

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

10/24/2024 10:57 PM

Key Details

Property Type Commercial

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 3,560 sqft

Price per Sqft $167

MLS Listing ID 24354181

HOA Y/N No

Year Built 1948

Lot Size 4,673 Sqft

Acres 0.1073

Property Description

Live/work and medical/dental conversion allowed per the City of Long Beach. We are please to present this vacant in-fill retail building on the highly trafficked Pacific Avenue retail corridor in Long Beach's famed South Wrigley shopping corridor. The property is located just blocks from the Northgate Market, The Wrigley Tavern, Happy Thai, Wicked Wolf Long Beach, Gaucho Beach Cafe and Gabriel's Burgers. This fully vacant building is also offered for lease at $1.19 per square foot, modified gross, making this a pro forma 9.4% cap rate upon stabilization. The building has been renovated and includes a roof replacement, clean interiors, HVAC systems, four car parking in the rear, a door in the rear, high ceilings, 40' of frontage on Pacific Ave, a 600 AMP electrical panel that is not currently connected, fresh paint, and a clean interior. Flexible LBCNP zoning allows for several uses including live-work lofts, restaurants and professional offices. This is perfect for an owner-user wanting to take advantage of SBA or other commercial financing opportunities, or an investor wanting to collect a 9.4% stabilized cap rate return upon completion of building lease-up.

Location

State CA

County Los Angeles

Area 5 - Wrigley Area

Zoning LBCNP

Interior

Fireplace No

Exterior

Total Parking Spaces 4

Building

Story 1

Others

Tax ID 7209024024

Special Listing Condition Standard

Listed by Oron Maher • Maher Commercial Realty

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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