Three-Space Mixed-Use
For Sale
$899,000
702 Cedar Ave, Long Beach, CA 90813
Two commercial storefronts accompany an upstairs residence with hardwood floors and a private patio serving the primary commercial unit.
Property Size2,557 SF
Price / SF$351.58
Days on Market213
Property Features for 702 Cedar Ave
General Information
Standard status
Active
Size
2,557 SF
Property subtype
Residential Income
Amenities
outdoor patio
break room
Building Details
Tenancy
Multi
Listing Agency:
Advantage Real Estate
(424) 293-1266
Listed By:
David Rosenfeld · License #01109090
(424) 293-1266
Source:
Exprealty
Added: Jan 29
Changed: Aug 29
Last Checked: Aug 29 at 1:39PM
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 Advantage Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property at 702 Cedar Ave includes three separate spaces within 2,557 square feet: two ground-level commercial units and an upstairs residential unit. The primary commercial space has an open interior, private-use patio, break room, renovated restroom, recessed lighting, fresh paint, and a tankless water heater. The second commercial unit provides street-level frontage and an open layout. The residential space includes hardwood flooring and may support rental occupancy or owner use. Both commercial units are occupied by the same tenant, and the property currently operates as an herbal retail store.
The property is identified with Alamitos Beach and the Willmore Historical District in Long Beach, California. Its 90813 location and Cedar Avenue address provide a defined setting for the three-space configuration.
The property is identified with Alamitos Beach and the Willmore Historical District in Long Beach, California. Its 90813 location and Cedar Avenue address provide a defined setting for the three-space configuration.
Key Highlights
- Three distinct spaces totaling 2,557 square feet
- Two commercial units are occupied by the same tenant
- Primary commercial unit includes an exclusive‑use outdoor patio
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
$54,161
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
6.02%
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%
$1,083,220
$1.1M
Cap Rate 7%
$773,729
$773.7K
Cap Rate 9%
$601,789
$601.8K
Market Conditions
NOI Build-Up for 2,557 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
$102.8K $40.20/SF
− Vacancy
−$4.3K −$1.69/SF
EGI
$98.5K $38.51/SF
− OpEx
−$44.3K −$17.33/SF
NOI
$54.2K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,083,220
Cap Rate 7%
$773,729
Cap Rate 9%
$601,789
Alternative Uses
Best Use
Apartment 5plus
$773.7K
$677.0K – $902.7K
NOI $54,161 @ 7.0% cap · market cap 6.02%
Second Best
Mixed Use
$616.4K
$539.4K – $719.2K
NOI $43,149 @ 7.0% cap · market cap 4.80%
Theoretical Best
Multifamily LT 5
$839.6K
$734.7K – $979.5K
NOI $58,772 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,847
Businesses Nearby
232k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 31%
Groceries 17%
Electronics 2%
Superior Grocers
Groceries
38,748 visits/mo
0.4 miles
Starbucks
Dining
19,105 visits/mo
0.5 miles
Carl's Jr.
Dining
18,755 visits/mo
0.4 miles
Chase Bank
Shops & Services
18,629 visits/mo
0.5 miles
Denny's
Dining
15,585 visits/mo
0.4 miles
Demographics for 90813, CA
54,565
Population
18,603
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
63%
High-School Grad
3.1 sq mi
ZIP Area
17,602
Density / Sq Mi
$50,302
Median Household Income
$31,450
Median Earnings
$1,578
Median Rent
$543,700
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?
Mixed-use property - Two commercial storefronts accompany an upstairs residence with hardwood floors and a private patio serving the primary commercial unit.
Where is this mixed-use property located?
The property is located at 702 Cedar Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three distinct spaces totaling 2,557 square feet; Two commercial units are occupied by the same tenant; Primary commercial unit includes an exclusive‑use outdoor patio
