Long Beach Landmark
For Sale
$1,400,000
2400 E 7th St, Long Beach, CA 90814
Iconic Long Beach restaurant/bar with parking lot for sale.
Property Size2,884 SF
Lot Size0.07 Acres
Price / SF$485.44
Days on Market157
Property Features for 2400 E 7th St
General Information
Standard status
Active
Size
2,884 SF
Lot size
0.07 Acres
Property subtype
Retail
Building Details
Building Size
2,884 SF
Listing Agency:
Coldwell Banker Commercial BLAIR
Listed By:
Sheva Hosseinzadeh · License #01922147
(562) 495-6070
Source:
Commercialcafe
Added: May 14
Changed: Oct 11
Last Checked: Oct 16 at 5:59AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,248
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
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
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 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 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,086 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,403
Businesses Nearby
172k
Monthly Visits Nearby
Balanced
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- FUEL Bar — 1720 E Broadway, Long Beach, CA 90802
- Wine Mess Liquor — 1770 E Broadway, Long Beach, CA 90802
- Mineshaft — 1720 E Broadway, Long Beach, CA 90802
- Gallagher's Pub & Grill — 2751 E Broadway, Long Beach, CA 90803
- Sweetwater Saloon — 1201 E Broadway, Long Beach, CA 90802
Frequently Asked Questions
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 $1,400,000.
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
