1941 Atlantic Avenue

    Long Beach, CA 90806
    • $670,000
    • STATUS: Active
    • ON SITE: 128 days
    • ID#: CV18190052
    UPDATED: 78 min ago
    $670,000
    • 0
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,620
      SQFT
    • $256
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1953
    County:

    School Ratings & Info

    Description

    CIVAR Realty Advisors is proud to announce the exclusive offering of 1941 Atlantic Ave located in Long Beach, CA. The site offers a positive and secured return to investors looking for a great retail free standing building offering a 5.5% cap rate. El Ranchito Market has been leasing the site for more then 10 years. They have been the community market sense then .With a positive out come on the rental return, the location offers tremendous value as it is adjacent to the Aquarium of the Pacific, The Queen Mary, California State University Long Beach, Marina Pacifica, Seal Beach, and many more local entertainment. Per Zoning ordinance the site could be used as a Cannabis Facility, Dispensary, Cultivation Facility, Distribution Facility, Manufacturing Facility, and Testing Laboratory Facility. Current use is a Deli meat market with no alcohol or lottery licenses.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-13T09:28:56.21. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.sonyathebroker.com/homes/86311129

    1941 Atlantic Avenue Long Beach, CA 90806

    • Price: $670,000
    • Status: Active
    • Updated: 78 min ago
    • ID#: CV18190052
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    2,620
    SQFT
    $256
    $/SQFT
    1953
    Built
    Neighborhood:
    9 - Poly High
    County:
    Los Angeles
    Area:
    9 - Poly High
    Property Description
    CIVAR Realty Advisors is proud to announce the exclusive offering of 1941 Atlantic Ave located in Long Beach, CA. The site offers a positive and secured return to investors looking for a great retail free standing building offering a 5.5% cap rate. El Ranchito Market has been leasing the site for more then 10 years. They have been the community market sense then .With a positive out come on the rental return, the location offers tremendous value as it is adjacent to the Aquarium of the Pacific, The Queen Mary, California State University Long Beach, Marina Pacifica, Seal Beach, and many more local entertainment. Per Zoning ordinance the site could be used as a Cannabis Facility, Dispensary, Cultivation Facility, Distribution Facility, Manufacturing Facility, and Testing Laboratory Facility. Current use is a Deli meat market with no alcohol or lottery licenses.
    Exterior Features

    Entry Level 1 Lot Features Corner LotNear Public TransitPark Nearby Lot Size Dimensions 2700 Lot Size Source Assessor Lot Size Units Square Feet Roof Flat

    Interior Features

    Condo Area Units Square Feet Laundry Features None Office Class C Office Square Footage 0

    Property Features

    Accounting Type Actual Additional Parcels YN No Anchors Co Tenants 1 Asset Class RetailSpecialty Building Area Units Square Feet Building Name El Ranchito Market Building Status Existing Business Type CommercialConvenience StoreGroceryRentalRetailSingle-TenantSpecial Use Cap Rate 5.50 Country Us Current Use Comments Market-Retail Gross Scheduled Income 41734.00 Insurance Expense 1240.00 Investment Property YN Yes Land Lease YN No Land Use OtherRetail Laundry YN No Leasable Area Units Square Feet Lease Considered YN No Lot Dimensions Source Assessor Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 37975.84 Number Of Units Leased 1 Occupancy Occupied Operating Expense 3758.00 Property Sub Type Retail Real Estate Tax Expense 5036.00 Retail Center Type Unanchored Retail Square Footage 2620 Special Listing Conditions Standard Tax Annual Amount 5036.00 Tax Rate 1.30 Tax Year 2017 Total Monthly Rent 3477 Utilities NoneOther Water Source Public Year Built Source Assessor Zoning Lbpd25

    Listing provided courtesy of Carlos Valenzuela Rivas of Civar Realty Advisors.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-13T09:28:56.21. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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