669 Artesia Blvd Long Beach, CA 90805

Property Details for 669 Artesia Blvd

Year built

2020

Lot size

0.49 lot acres

Property size

2,780 SF

Property type

Retail properties

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.