Two-Building Mixed-Use
New
For Sale
$1,500,000
226-228 Atlantic Avenue, Long Beach, CA 90802
Includes a dental suite, retail space, and two residential units with current leases.
Property Size3,367 SF
Lot Size0.12 Acres
Price / SF$445.50
Days on Market3
Property Features for 226-228 Atlantic Avenue
General Information
Standard status
Active
Size
3,367 SF
Lot size
0.12 Acres
Property subtype
Retail
Additional Details
Office Units
1
Building Details
Building Size
3,367 SF
Buildings
2
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Lee & Associates Los Angeles – Long Beach Inc.
(562) 354-2511
Listed By:
Jeff Coburn, CCIM, SIOR · License #CalDRE #01303169
Source:
Lee-associates
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 10:14PM
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.
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 = 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
$85,788
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
5.72%
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%
$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
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
$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 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%
$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
NOI $85,788 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$919.8K
$804.9K – $1.07M
NOI $64,389 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,188 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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 $1,500,000.
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
