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Long Beach Landmark Opportunity

2400 E 7th St Long Beach, CA 90814

2400 E 7th St, Long Beach, CA, 90814
$1,500,000
For Sale
Claim this Listing
$1,500,000

Iconic Long Beach restaurant/bar with parking lot for sale.

Property Size2,884 SF
Lot Size0.07 Acres
Price / SF$520.11
AddedMay 14
Days on Market64
Last RefreshJul 16 at 1:57 am

Property Features for 2400 E 7th St

General Information

Standard status
Active
Size
2,884 SF
Lot size
0.07 Acres
Property subtype
Retail

Listing office Coldwell Banker Commercial BLAIR

Listing date May 14, 2026

Source Commercialcafe

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.

A freestanding building, formerly known as The Prospector steakhouse since the 1960s, is available for acquisition. The property, situated in the Rose Park area of Long Beach, contains approximately 2,884 square feet of space on a lot of about 3,210 square feet. It is suited for a restaurant, bar, or adaptive reuse. A Type 47 ABC liquor license may be acquired, offering operational potential for food and beverage businesses. The rights to the Prospector name and associated branding are included. Adjacent to the restaurant/bar is an approximately 6,757 square foot parcel with 20 on-site parking spaces, including two ADA-compliant stalls. The parking lot provides accessibility and convenience to customers and staff. This property presents an opportunity to reimagine an established presence in one of Long Beach’s corridors.

Key Highlights

  • Valuable Type 47 ABC liquor license included
  • Includes 20 on‑site parking spaces (including 2 ADA‑compliant) on a separate 6,757 SF parcel
  • Freestanding 2,884 SF building on 3,210 SF of land, suitable for restaurant, bar, or adaptive reuse

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $76.1k $26.40
− Vacancy −$3.8k −$1.32
EGI $72.3k $25.08
− OpEx −$18.1k −$6.27
NOI $54.2k $18.81
2,884 SF · lease $26.40/SF/yr · vacancy 5.00% · expense 25.00%

Alternative Uses

Best Use
Specialty Retail
$775.0K
$678.1K – $904.1K (±1% cap)
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 (±1% cap)
NOI $108,086 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Bars & Pubs

Suggested Use

Law Firm Parking Lot & Garage HVAC Service Computer & Electronic Repair Daycare Center Travel Agency Real Estate Agency Tech Support Center Nursing Home (Bike/Boat/Book/etc) Store

Zoning and permitted uses should be independently verified with local authorities.

Similar Off Market Nearby

  • Wide Eyes Open Palms — 416 Cherry Ave, Long Beach, CA 90802
  • Vine — 2142 E 4th St, Long Beach, CA 90814
  • Wesson’s Long Beach house — 293 redondo ave, long beach, ca 90803
  • Gallagher's Pub & Grill — 2751 E Broadway, Long Beach, CA 90803
  • Art Du Vin — 2027 E 4th St, Long Beach, CA 90814

FAQs

What type of property is this?
Bar & Pub - Iconic Long Beach restaurant/bar with parking lot for sale.
Where is this bar & pub located?
The property is located at 2400 E 7th St 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: Valuable Type 47 ABC liquor license included; Includes **20 on‑site parking spaces** (including 2 ADA‑compliant) on a separate 6,757 SF parcel; Freestanding 2,884 SF building on 3,210 SF of land, suitable for restaurant, bar, or adaptive reuse
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