240 Pne Ave Long Beach, CA 90802-3042
- Retail space
- 25,780 SF
- 0.49 lot acres
Current Use by Public Records
- Washington Square Dermatology / Skin Care Clinic
Property Details for 240 Pne Ave
- Year built
- 1930
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.49 lot acres
- Property size
- 25,780 SF
- Zone code
- LBPD30
- Property type
- Retail space
- APN
- 7280-020-022
- APU
- 7280020022
Description
This ±12,000 square foot street-front retail property is ideally situated in the heart of Downtown Long Beach, CA, at 240 Pine Avenue, between 3rd and 4th Streets. The single-tenant space boasts an open floor plan with high ceilings, convenient restrooms located in the rear, and a large open area suitable for storage. A built-out office space is available on the second-floor mezzanine. This commercially zoned property benefits from its proximity to two large city-owned parking lots on Broadway and 3rd Street, offering customers two hours of free parking or low-cost monthly passes. The immediate area is a vibrant mix of retail, office, residential, and service businesses, with nearby new developments including restaurants and a brewery (Altar Society). Long Beach's Downtown area is a thriving hub for tourism, business, and transit, experiencing continued growth and attracting new businesses and visitors. The property's location within this dynamic urban core offers excellent accessibility and visibility, making it an attractive opportunity for a variety of retail uses. The city's Pacific Rim influences contribute to its unique economic and cultural landscape, further enhancing the property's appeal. The area's amenities, services, and convenient location within a livable urban core cater to a growing resident population. The property's location near the city's civic core, including City Hall and the Governor George Deukmejian Courthouse, and major attractions such as the Long Beach Convention Center and Aquarium of the Pacific, adds to its strategic value. The zip code is 90802.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,500,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,820,000
- 6.5%
- $3,750,000
- 7%
- $3,745,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,135,000
- Geo Method
- $3,155,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,925,000
- Retail
- $3,675,000
- Mixed-Use
- $3,350,000
- Hospitality
- $3,255,000
- Educational
- $2,830,000
- Residential Income
- $3,415,000
- Energy
- $3,645,000
- Income-Based Land
- $3,470,000
- Food Service
- $2,935,000
Location Insight
- Map
- Local Demand
- City
- Long Beach
- County
- Los Angeles
- State
- California
- Longitude
- -118.192
- Latitude
- 33.7702
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
