Retail Building with Basement,
For Sale
Contact for pricing
701 Pine Ave, Long Beach, CA
Retail building featuring extra basement and mezzanine spaces.
Property Size6,684 SF
Lot Size0.17 Acres
Price / SF$426.39
Days on Market888
Property Features for 701 Pine Ave
General Information
Standard status
Active
Size
6,684 SF
Lot size
0.17 Acres
Property subtype
RETAIL
Listing Agency:
CNJ Realty Inc.
(213) 448-0631
Listed By:
Christopher Ahn · License #00972896
Source:
Moodyscre
Added: Apr 10, 2024
Changed: Sep 13
Last Checked: Sep 13 at 10:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CNJ Realty Inc.
Investment Insights
Based on property information with market context.
This retail building offers 6,684 square feet of space, including extra basement and mezzanine areas. The property is suitable for various business uses.
Key Highlights
- Retail building available
- Extra basement space
- Mezzanine space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$110,242
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,204,840
$2.2M
Cap Rate 7%
$1,574,886
$1.6M
Cap Rate 9%
$1,224,911
$1.2M
Market Conditions
NOI Build-Up for 6,684 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$168.4K $25.20/SF
− Vacancy
−$10.9K −$1.64/SF
EGI
$157.5K $23.56/SF
− OpEx
−$47.2K −$7.07/SF
NOI
$110.2K $16.49/SF
Area
Long Beach, CA
Vacancy
6.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,204,840
Cap Rate 7%
$1,574,886
Cap Rate 9%
$1,224,911
Alternative Uses
Best Use
Retail
$1.57M
$1.38M – $1.84M
NOI $110,242 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.58M
$3.13M – $4.18M
NOI $250,501 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,256
Businesses Nearby
269k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Groceries 29%
Shops & Services 20%
Electronics 1%
Superior Grocers
Groceries
38,748 visits/mo
0.3 miles
El Super
Groceries
38,294 visits/mo
0.4 miles
Starbucks
Dining
19,105 visits/mo
0.3 miles
Carl's Jr.
Dining
18,755 visits/mo
0.2 miles
Chase Bank
Shops & Services
18,629 visits/mo
0.3 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail building featuring extra basement and mezzanine spaces.
Where is this retail space located?
The property is located at 701 Pine Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Retail building available; Extra basement space; Mezzanine space
