Building Details

Building Size 3,367 SF

Buildings 2

Tenancy Multi

Owner Occupied Yes

Listing Agency: Lee & Associates Los Angeles – Long Beach Inc.

Listed By: Jeff Coburn, CCIM, SIOR · License #CalDRE #01303169 Show Phone

Source: Lee-associates

Added: Aug 28 Changed: Oct 13 Last Checked: Oct 12 at 6:53PM

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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 Lee & Associates Los Angeles – Long Beach Inc.

Investment Insights

Based on property information with market context.

This mixed-use property consists of two buildings totaling approximately 3,367 SF on a single approximately 5,019 SF parcel. The configuration includes a dental suite, retail area, and two residential units. The dental space is currently owner occupied and will be vacant at closing, while the retail component is also vacant. The residential units are fully leased and provide existing rental income.

The dental suite conveys with dental FF&E and plans submitted to the City. The property is located at 226-228 Atlantic Avenue in Long Beach’s East Village Arts District, placing the asset within an established urban neighborhood context.

Key Highlights

• Two buildings totaling ±3,367 SF
• Single ±5,019 SF parcel
• Dental suite conveys with dental FF&E and City‑submitted plans

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$85,788

Cap Rate

6.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,715,760 $1.7M

Cap Rate 7%

$1,225,543 $1.2M

Cap Rate 9%

$953,200 $953.2K

Market Conditions

NOI Build-Up for 3,367 SF

Gross rent

$153.5K $45.60/SF

− Vacancy

−$39.2K −$11.63/SF

EGI

$114.4K $33.97/SF

− OpEx

−$28.6K −$8.49/SF

NOI

$85.8K $25.48/SF

Area

Long Beach, CA

Vacancy

25.50%

Lease Rate

$45.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,715,760

Cap Rate 7%

$1,225,543

Cap Rate 9%

$953,200

Alternative Uses

Best Use

Office B

$1.23M

$1.07M – $1.43M (±1% cap)

NOI $85,788 @ 7.0% cap · market cap 6.13%

Second Best

Apartment 5plus

$919.8K

$804.9K – $1.07M (±1% cap)

NOI $64,389 @ 7.0% cap · market cap 4.60%

Theoretical Best

Office A

$1.80M

$1.58M – $2.10M (±1% cap)

NOI $126,188 @ 7.0% cap · market cap 9.01%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Carpet & Flooring Store Tanning Salon Butcher (Bike/Boat/Book/etc) Store Storage Facility Veterinary Clinic

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

Lease Details

1

Office units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

4,661

Businesses Nearby

Explore this area Business Placement

Demographics for 90802, CA

41,686

Population

25,055

Households

1.7

Avg Household Size

37

Median Age

44%

College-Educated

88%

High-School Grad

6.5 sq mi

ZIP Area

6,413

Density / Sq Mi

$72,152

Median Household Income

$52,011

Median Earnings

$1,855

Median Rent

$546,700

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Includes a dental suite, retail space, and two residential units with current leases.

Where is this mixed-use property located?

The property is located at 226-228 Atlantic Avenue Long Beach, CA.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: Two buildings totaling ±3,367 SF; Single ±5,019 SF parcel; Dental suite conveys with dental FF&E and City‑submitted plans