Freestanding Restaurant with Dedicated
For Sale
Contact for pricing
2400-2414 East 7th Street, Long Beach, CA 90814
Freestanding restaurant property with adjacent parking, CNR zoning, and potential access to a Type 47 ABC liquor license.
Property Size2,884 SF
Price / SF$520.11
Days on Market122
Property Features for 2400-2414 East 7th Street
General Information
Standard status
Active
Size
2,884 SF
Total Parking Spaces
20
Property subtype
Retail
Zoning
CNR ZONE
Investment Type
Owner/User
Additional Details
Business Included
Yes
Building Details
Year Built
1921
Buildings
1
Listing Agency:
Coldwell Banker Commercial BLAIR
Listed By:
Sheva Hosseinzadeh · License #CA 01922147
(562) 495-6070
Source:
Crexi
Added: May 4
Changed: Aug 31
Last Checked: Aug 31 at 5:08PM
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 Coldwell Banker Commercial BLAIR
Investment Insights
Based on property information with market context.
This freestanding restaurant property includes an approximately 2,884-square-foot building on about 3,210 square feet of land, constructed in 1921. The asset is positioned for restaurant, bar, or adaptive reuse applications and includes the opportunity to acquire a Type 47 ABC liquor license. Rights to the Prospector name and related branding are also included.
The offering extends to the adjacent 6,757-square-foot parcel at 2414 East 7th Street, which provides 20 on-site parking spaces, including two ADA-compliant stalls. The restaurant and parking components are located in Long Beach’s Rose Park area and are subject to CNR zoning.
The offering extends to the adjacent 6,757-square-foot parcel at 2414 East 7th Street, which provides 20 on-site parking spaces, including two ADA-compliant stalls. The restaurant and parking components are located in Long Beach’s Rose Park area and are subject to CNR zoning.
Key Highlights
- Approximately 2,884 SF freestanding restaurant building
- About 3,210 SF of land with 1921 construction
- Adjacent 6,757 SF dedicated parking parcel
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
$54,248
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
3.62%
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%
$1,084,960
$1.1M
Cap Rate 7%
$774,971
$775.0K
Cap Rate 9%
$602,756
$602.8K
Market Conditions
NOI Build-Up for 2,884 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
$76.1K $26.40/SF
− Vacancy
−$3.8K −$1.32/SF
EGI
$72.3K $25.08/SF
− OpEx
−$18.1K −$6.27/SF
NOI
$54.2K $18.81/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$26.40 /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%
$1,084,960
Cap Rate 7%
$774,971
Cap Rate 9%
$602,756
Alternative Uses
Best Use
Specialty Retail
$775.0K
$678.1K – $904.1K
NOI $54,248 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,086 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,403
Businesses Nearby
172k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 50%
Shops & Services 34%
Dining 12%
Apparel 4%
Northgate Gonzalez Markets
Groceries
45,241 visits/mo
0.2 miles
Ralphs
Groceries
40,150 visits/mo
0.5 miles
dd's DISCOUNTS
Shops & Services
23,706 visits/mo
0.1 miles
Bank of America
Shops & Services
14,262 visits/mo
0.5 miles
Jack in the Box
Dining
12,453 visits/mo
0.5 miles
Demographics for 90814, CA
19,042
Population
9,939
Households
1.9
Avg Household Size
39
Median Age
56%
College-Educated
92%
High-School Grad
1.3 sq mi
ZIP Area
14,648
Density / Sq Mi
$98,070
Median Household Income
$60,482
Median Earnings
$1,987
Median Rent
$898,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding restaurant property with adjacent parking, CNR zoning, and potential access to a Type 47 ABC liquor license.
Where is this conventional restaurant located?
The property is located at 2400-2414 East 7th Street 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: Approximately 2,884 SF freestanding restaurant building; About 3,210 SF of land with 1921 construction; Adjacent 6,757 SF dedicated parking parcel
