Cannabis Property with Vacant
For Sale
$3,750,000
1957 Pacific, Long Beach, CA 90806
Retail-zoned property with grandfathered cannabis use rights and vacant delivery at closing.
Property Size13,400 SF
Days on Market77
Property Features for 1957 Pacific
General Information
Standard status
Active
Size
13,400 SF
Property subtype
Special Purpose
Site & Location
Neighborhood
South Wrigley
Building Details
Building Size
13,400 SF
Year Built
1948
Listing Agency:
Luxury Homes International
Listed By:
Eduard Khachatryan · License #01769888
(818) 484-8008
Source:
Velocityrealtysd
Added: Aug 10
Changed: Oct 25
Last Checked: Oct 24 at 10:51PM
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 Luxury Homes International
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Investment Insights
Based on property information with market context.
Located at 1957 Pacific Ave in Long Beach, this cannabis property includes an 11,396-square-foot building on a 16,300-square-foot lot. The building is scheduled for vacant delivery at closing, allowing the purchaser to take control of the full premises.
The property carries retail zoning with grandfathered authorization for non-retail cannabis activities, including cultivation, manufacturing, and distribution. Its existing building and site configuration provide a physical foundation for the stated cannabis uses, subject to applicable requirements.
The property carries retail zoning with grandfathered authorization for non-retail cannabis activities, including cultivation, manufacturing, and distribution. Its existing building and site configuration provide a physical foundation for the stated cannabis uses, subject to applicable requirements.
Key Highlights
- 11,396‑square‑foot building on a 16,300‑square‑foot lot
- Retail zoning with grandfathered non‑retail cannabis uses
- Cultivation, manufacturing, and distribution uses identified
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$193,451
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,869,020
$3.9M
Cap Rate 7%
$2,763,586
$2.8M
Cap Rate 9%
$2,149,456
$2.1M
Market Conditions
NOI Build-Up for 13,400 SF
Gross rent
$297.5K $22.20/SF
− Vacancy
−$21.1K −$1.58/SF
EGI
$276.4K $20.62/SF
− OpEx
−$82.9K −$6.19/SF
NOI
$193.5K $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%
$3,869,020
Cap Rate 7%
$2,763,586
Cap Rate 9%
$2,149,456
Alternative Uses
Best Use
Retail
$2.76M
$2.42M – $3.22M
NOI $193,451 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.17M
$6.28M – $8.37M
NOI $502,202 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,653
Businesses Nearby
205k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 29%
Groceries 20%
Northgate Gonzalez Markets
Groceries
41,854 visits/mo
0.2 miles
McDonald's
Dining
31,827 visits/mo
0.3 miles
Tierra Mia Coffee
Dining
27,507 visits/mo
0.4 miles
ARCO
Shops & Services
19,565 visits/mo
0.3 miles
King Taco
Dining
16,192 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
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
Frequently Asked Questions
What type of property is this?
Cannabis property - Retail-zoned property with grandfathered cannabis use rights and vacant delivery at closing.
Where is this cannabis property located?
The property is located at 1957 Pacific Long Beach, CA.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 11,396‑square‑foot building on a 16,300‑square‑foot lot; Retail zoning with grandfathered non‑retail cannabis uses; Cultivation, manufacturing, and distribution uses identified
