Multi-Level Commercial Kitchen
New
For Sale
$12,190,000
456 Elm Avenue, Long Beach, CA 90802
A culinary workspace combines private and shared kitchens with dining, prep, cold storage, and staff areas.
Property Size25,129 SF
Lot Size0.17 Acres
Price / SF$485.10
Days on Market2
Property Features for 456 Elm Avenue
General Information
Standard status
Active
Size
25,129 SF
Lot size
0.17 Acres
Property subtype
Retail
Restaurant
Commercial Hood
Yes
Liquor License
Yes
Building Details
Building Size
25,129 SF
Buildings
1
Listing Agency:
Coldwell Banker Commercial BLAIR
Listed By:
Sheva Hosseinzadeh · License #01922147
(562) 400-5949
Source:
Cbcworldwide
Added: Sep 26
Last Checked: Sep 26 at 2:21PM
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.
At 456 Elm Avenue, this 25,129-square-foot facility occupies a 7,506-square-foot parcel and is configured for a range of culinary operations. The ground floor has a dining hall, chef’s kitchen with a private dining area, and public restrooms. Eight private commercial kitchens, each with a hood system, are located on the second floor. The third floor contains five shared kitchens, three walk-in coolers, one walk-in freezer, a washing station, and eight non-hooded prep kitchens. The basement includes a receiving area, two more prep kitchens, and an employee locker and break room.
The property serves food entrepreneurs through private and communal kitchen options, and the shared kitchens have hourly renters. The prep areas also accommodate non-food business operators. A Master Conditional Use Permit has been approved for ten (10) transferable Type 41 ABC Licenses; approval of a Type 47 ABC License for on-site liquor consumption is in process.
The property serves food entrepreneurs through private and communal kitchen options, and the shared kitchens have hourly renters. The prep areas also accommodate non-food business operators. A Master Conditional Use Permit has been approved for ten (10) transferable Type 41 ABC Licenses; approval of a Type 47 ABC License for on-site liquor consumption is in process.
Key Highlights
- 25,129 square feet of improvements on a 7,506‑square‑foot parcel
- Eight private commercial kitchens with hood systems, plus five shared kitchens
- Eight non‑hooded prep kitchens on the third floor and two additional prep kitchens in the basement
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
$472,676
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
3.88%
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%
$9,453,520
$9.5M
Cap Rate 7%
$6,752,514
$6.8M
Cap Rate 9%
$5,251,956
$5.3M
Market Conditions
NOI Build-Up for 25,129 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
$663.4K $26.40/SF
− Vacancy
−$33.2K −$1.32/SF
EGI
$630.2K $25.08/SF
− OpEx
−$157.6K −$6.27/SF
NOI
$472.7K $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%
$9,453,520
Cap Rate 7%
$6,752,514
Cap Rate 9%
$5,251,956
Alternative Uses
Best Use
Specialty Retail
$6.75M
$5.91M – $7.88M
NOI $472,676 @ 7.0% cap · market cap 3.88%
Second Best
Industrial
$4.33M
$3.79M – $5.06M
NOI $303,437 @ 7.0% cap · market cap 2.49%
Theoretical Best
Office A
$13.45M
$11.77M – $15.70M
NOI $941,778 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Commercial hood
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
5,908
Businesses Nearby
340k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Groceries 30%
Shops & Services 15%
Hotels & Casinos 6%
Superior Grocers
Groceries
38,748 visits/mo
0.5 miles
El Super
Groceries
38,294 visits/mo
0.1 miles
VONS
Groceries
24,737 visits/mo
0.4 miles
McDonald's
Dining
20,241 visits/mo
0.4 miles
Starbucks
Dining
19,105 visits/mo
0.2 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - A culinary workspace combines private and shared kitchens with dining, prep, cold storage, and staff areas.
Where is this commercial kitchen located?
The property is located at 456 Elm Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $12,190,000.
What are key features of this property?
This property features: 25,129 square feet of improvements on a 7,506‑square‑foot parcel; Eight private commercial kitchens with hood systems, plus five shared kitchens; Eight non‑hooded prep kitchens on the third floor and two additional prep kitchens in the basement
