Freestanding Retail/Flex
For Sale
Contact for pricing
1345-1347 Redondo Ave, Long Beach, CA 90804
100% vacant freestanding retail/flex building with an open layout, secured fenced yard, and on-site parking.
Property Size6,673 SF
Lot Size0.29 Acres
Price / SF$524.50
Days on Market139
Property Features for 1345-1347 Redondo Ave
General Information
Standard status
Active
Size
6,673 SF
Total Parking Spaces
12
Lot size
0.29 Acres
Property subtype
Mixed Use, Office, Retail
Zoning
LBCNR
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$240,000
Site & Location
Traffic Count
30,000 vehicles/day
Fenced Yard
Yes
Outdoor Storage
Yes
Building Details
Year Built
1954
Buildings
1
Stories
1
Units
12
Tenancy
Single
Listing Agency:
Equity Realty
Listed By:
Steven Bae · License #02033375
(310) 528-5240
Source:
Crexi
Added: Apr 21
Changed: Aug 25
Last Checked: Sep 4 at 3:18PM
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 Equity Realty
Investment Insights
Based on property information with market context.
1345–1347 Redondo Ave offers a 6,673 SF freestanding retail/flex building on a 12,502 SF lot with an open floor plan and flexible layout. The property includes a secured fenced yard and on-site parking, and it is currently 100% vacant, presenting an opportunity for an owner-user or investor to reposition the space.
The site is positioned along one of Long Beach’s primary commercial corridors, with approximately 30,000 vehicles per day and strong street frontage. The property provides convenient street exposure for a wide range of commercial uses.
Zoned LBCNR (Neighborhood Commercial Retail), the building is described as accommodating retail, office, medical, service commercial, and potential cannabis operations, subject to city approvals. The combination of a flexible interior plan, street visibility, and a secured yard supports businesses requiring practical outdoor storage or logistics-oriented operations.
The site is positioned along one of Long Beach’s primary commercial corridors, with approximately 30,000 vehicles per day and strong street frontage. The property provides convenient street exposure for a wide range of commercial uses.
Zoned LBCNR (Neighborhood Commercial Retail), the building is described as accommodating retail, office, medical, service commercial, and potential cannabis operations, subject to city approvals. The combination of a flexible interior plan, street visibility, and a secured yard supports businesses requiring practical outdoor storage or logistics-oriented operations.
Key Highlights
- 6,673 SF freestanding retail/flex building on a 12,502 SF lot
- 100% vacant—ready for an owner‑user or value‑add repositioning
- Approximately 30,000 vehicles per day and strong street frontage
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
$110,060
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
3.14%
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%
$2,201,200
$2.2M
Cap Rate 7%
$1,572,286
$1.6M
Cap Rate 9%
$1,222,889
$1.2M
Market Conditions
NOI Build-Up for 6,673 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
$168.2K $25.20/SF
− Vacancy
−$10.9K −$1.64/SF
EGI
$157.2K $23.56/SF
− OpEx
−$47.2K −$7.07/SF
NOI
$110.1K $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%
$2,201,200
Cap Rate 7%
$1,572,286
Cap Rate 9%
$1,222,889
Alternative Uses
Best Use
Retail
$1.57M
$1.38M – $1.83M
NOI $110,060 @ 7.0% cap · market cap 3.14%
Second Best
Flex RnD
$1.40M
$1.22M – $1.63M
NOI $97,853 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$3.57M
$3.13M – $4.17M
NOI $250,089 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
30,000 VPD
Traffic count
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,344
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90804, CA
39,370
Population
15,998
Households
2.5
Avg Household Size
33
Median Age
30%
College-Educated
75%
High-School Grad
2.2 sq mi
ZIP Area
17,895
Density / Sq Mi
$68,940
Median Household Income
$38,914
Median Earnings
$1,801
Median Rent
$673,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 100% vacant freestanding retail/flex building with an open layout, secured fenced yard, and on-site parking.
Where is this flex space located?
The property is located at 1345-1347 Redondo Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 6,673 SF freestanding retail/flex building on a 12,502 SF lot; 100% vacant—ready for an owner‑user or value‑add repositioning; Approximately 30,000 vehicles per day and strong street frontage
