2035 Pacific Avenue, Long Beach, CA 90806
Commercial property · 2 recorded sales since 2023
Sold November 2024
Listing Agent: Oron Maher (DRE #01299093) · Listing Office: Maher Commercial Realty · Contact: 310-464-1453 · Bought with: Judy Fike · REMAX Proper · MLS #24354181 · Source: CRMLS
About this commercial property
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.
Listing description from the November 2024 sale, as reported to CRMLS.
Sale history
