Building Details

Building Size 1,472 SF

Listing Agency: Safeguard Equities Inc

Listed By: Daniel Sheppard · License #00358197 Show Phone

Source: Elliman

Added: Mar 11 Changed: Aug 15 Last Checked: Aug 15 at 10:57AM

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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 Safeguard Equities Inc

Investment Insights

Based on property information with market context.

This property, currently operating as an automotive repair shop, is available for sale. The building includes an office, restroom, and three bays. The property consists of two parcels, with the rear 25 feet located in Signal Hill, providing alley access. The current lease is scheduled to terminate in December 2016.

Key Highlights

• Automotive repair shop with yard
• Building includes an office, restroom, and 3 bays
• Lease terminating in December 2016

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,251

Cap Rate

5.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$425,020 $425.0K

Cap Rate 7%

$303,586 $303.6K

Cap Rate 9%

$236,122 $236.1K

Market Conditions

NOI Build-Up for 1,472 SF

Gross rent

$32.7K $22.20/SF

− Vacancy

−$2.3K −$1.58/SF

EGI

$30.4K $20.62/SF

− OpEx

−$9.1K −$6.19/SF

NOI

$21.3K $14.44/SF

Area

ZIP 90806

Vacancy

7.10%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$425,020

Cap Rate 7%

$303,586

Cap Rate 9%

$236,122

Alternative Uses

Best Use

Retail

$303.6K

$265.6K – $354.2K (±1% cap)

NOI $21,251 @ 7.0% cap · market cap 5.33%

Second Best

Industrial

$257.3K

$225.1K – $300.2K (±1% cap)

NOI $18,010 @ 7.0% cap · market cap 4.51%

Theoretical Best

Office A

$788.1K

$689.6K – $919.5K (±1% cap)

NOI $55,167 @ 7.0% cap · market cap 13.83%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Excellent Carwash & Auto ... Car Wash

Suggested Use

Top Pick Law Firm Real Estate Agency (Bike/Boat/Book/etc) Store Acupuncture Fish Market Tattoo & Piercing Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,704

Businesses Nearby

351k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 55% Shops & Services 23% Groceries 16% Apparel 4%

McDonald's Dining

50,256 visits/mo 0.2 miles

Albertsons Groceries

41,960 visits/mo 0.3 miles

Starbucks Dining

29,044 visits/mo 0.2 miles

Carl's Jr. Dining

18,779 visits/mo 0.2 miles

Taco Bell Dining

16,591 visits/mo 0.2 miles

Demographics for 90806, CA

41,611

Population

13,106

Households

3.2

Avg Household Size

35

Median Age

22%

College-Educated

72%

High-School Grad

4.9 sq mi

ZIP Area

8,492

Density / Sq Mi

$73,674

Median Household Income

$36,691

Median Earnings

$1,672

Median Rent

$699,800

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Silva's Tires — 2119 Pacific Ave, Long Beach, CA 90806
• Mobile Mechanic — 2085 pacific ave, long beach, ca 90806
• H & R Auto Body Shop — 2086 Pacific Ave, Long Beach, CA 90806
• tint monsters & sound — 2160 Long Beach Blvd, Long Beach, CA 90806
• Just Repair CA — 2160 Long Beach Blvd, Long Beach, CA 90806

Frequently Asked Questions

What type of property is this?

Auto shop - Automotive repair shop with yard, terminating lease in December 2016.

Where is this auto shop located?

The property is located at 2650 Atlantic Ave Long Beach, CA.

What is the asking price?

The asking price for this property is $399,000.

What are key features of this property?

This property features: Automotive repair shop with yard; Building includes an office, restroom, and **3 bays**; Lease terminating in December 2016