2635 South St Long Beach, CA 90805

Property Details for 2635 South St

Year built

1976

Lot size

1.73 lot acres

Property size

3,000 SF

Property type

Industrial properties

Property subtype

Flex space

Description

This fee-simple industrial property in Long Beach, CA, offers a compelling investment opportunity. The 3,000 square-foot flex space is 100% occupied by United Rentals under a triple-net (NNN) lease with a corporate guarantee, providing a passive income stream for the owner. The lease has approximately 3.5 years remaining, with three 5-year renewal options, ensuring long-term stability. Annual rent increases of 2.5% are built into the lease, providing inflation protection and growing net operating income (NOI). The property boasts a 6.91% cap rate and a current NOI of $504,300, with an asking price of $7,300,000. Situated on a 1.73-acre lot at a signalized intersection with high traffic counts (56,400 vehicles daily), the property benefits from excellent visibility and convenient access to State Highway 91 (277,000 vehicles per day). The location is further enhanced by proximity to Lakewood Center Mall and numerous other national retailers. The property includes 118 parking spaces and was built in 1976. The permitted zoning is IG (Industrial), and the property's APN is 7119-019-008 & 7119-019-009. The strong demographics of the area, with an average household income exceeding $105,000 within a 5-mile radius, further support the investment potential.