669 Artesia Blvd, Long Beach, CA 90805
- Retail properties & Spaces
- 2,780 SF
- 0.49 lot acres
Current Use by Public Records
- Retail properties & Spaces
Property Details for 669 Artesia Blvd
- Year built
- 2020
- Lot size
- 0.49 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Banks
Description
This exceptional investment opportunity presents a fee-simple interest (land and building) in a 2,780 square foot, single-tenant Chase Bank property located at 669 E Artesia Blvd, Long Beach, CA 90805. The property boasts a 5.00% cap rate and a strong NOI of $198,000, with a 100% occupancy rate. Built in 2020, this one-story building sits on a 0.49-acre lot and includes 14 parking spaces. The property benefits from a prime location at a signalized intersection with high visibility and convenient access to State Highway 91 (271,000 vehicles per day) and Interstate 710. The absolute NNN lease with JPMorgan Chase Bank (S&P: A+) features a corporate guarantee and includes four 5-year and one 4-year, 11-month options to extend, ensuring long-term income stability. Rental increases of 10% every five years provide inflation protection and growing NOI. The property is part of the Uptown Commons development, surrounded by strong tenant synergy, including Target, Home Depot, and Food 4 Less. The 5-mile trade area boasts a robust population of over 684,000 residents with an average household income exceeding $105,165. This drive-thru equipped bank offers a management-free investment opportunity with significant upside potential. The property's APN is 7115-003-053 and is zoned CCA.
Value Estimations
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Long Beach
- County
- Los Angeles
- State
- California
- Longitude
- -118.185
- Latitude
- 33.8748
