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    Property profile & analytics

    398 Mira Mar Ave Long Beach, CA 90814

    • Retail properties
    • 2,400 SF
    • 0.60 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Anna Marks Photography / Wedding Service / Photography Service
    • Beehive / Hair Salon / Nail Salon

    Property Details for 398 Mira Mar Ave

    Year built
    1955
    Lot size
    0.60 lot acres
    Property size
    2,400 SF
    Property type
    Retail properties
    Property subtype
    Retail space

    Description

    This exceptional retail property, located at 398 Mira Mar Ave, Long Beach, CA 90814, offers 2,400 square feet of prime commercial space in the highly desirable Belmont Heights neighborhood. The building, a single-story Class B structure built in 1955 and extensively renovated in 2023, is comprised of four suites, each offering 600 square feet of usable space. Currently, 1,200 square feet is available for lease, ideally suited for multiple tenants. The property sits on a 0.6-acre lot and provides convenient street parking. Each unit is equipped with 60 amps of power. The zoning is classified as C Class. This location boasts a family-friendly atmosphere, surrounded by schools and parks, and is within walking distance of a variety of bars, restaurants, and other small businesses. The charming neighborhood features historic homes with Spanish Revival and Mediterranean architecture, creating a relaxed and vibrant community. The cross street is 4th Street. This is a truly unique opportunity to establish a business in one of Long Beach's most sought-after areas. The property's recent renovation ensures modern amenities and a move-in ready condition. Don't miss this chance to secure your place in the heart of Belmont Heights.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Long Beach
    County
    Los Angeles
    State
    California
    Longitude
    -118.147
    Latitude
    33.7715

    Comparable in this City

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      2,080 SF

      2708 4Th St

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    • Value Estimation
      $600,000
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      2100 4th St

      RETAIL STORES (PERSONAL SERVICES) • 3,975 SF
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    • Value Estimation
      $570,000
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      4337 4th St

      RETAIL STORES (PERSONAL SERVICES) • 4,320 SF
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    • Value Estimation by Request
      1,840 SF

      4007 4th St

      RETAIL STORES (PERSONAL SERVICES) • 1,840 SF
      4007 4th St, Long Beach, CA 90814-2846
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    • Value Estimation
      $4,065,000
      4,917 SF

      3331 3rd St

      RETAIL STORES (PERSONAL SERVICES) • 4,917 SF
      3331 3rd St, Long Beach, CA 90814-2602
      View Details
    • Value Estimation
      $610,000
      4,710 SF

      2234 4th St

      RETAIL STORES (PERSONAL SERVICES) • 4,710 SF
      2234 4th St, Long Beach, CA 90814-8312
      View Details

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    • Contact for pricing
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      Refurbished Retail Space with Patio

      Creative retail space with ample glass line and rear patio.
      398 Mira Mar Ave, Long Beach, CA 90814
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    398 Mira Mar Ave
    Long Beach, CA 90814
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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