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    Property profile & analytics

    120 3Rd St Long Beach, CA 90802

    • Office buildings
    • 2,500 SF
    • 0.03 lot acres
    For Lease
    View listing
    $8 SF/Yr
    Last Sale
    Jan 19, 2022
    $1,450,014
    Value Estimations
    $1,000,000
    Cap Rate Potential
    7.1%
    Office buildings
    Location Intelligence
    Property ID
    US09-9019206
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • P3 Office Lofts / Coworking Space
    • E*DRAY CPL / Corporate Office
    • Margie Windshield Company / Auto Repair Shop
    • Darvishian Investment Group / Commercial Real Estate Agency / Investment Service
    • Inospire / Human Resource Consulting / Service Establishment

    Property Details for 120 3Rd St

    Year built
    1914
    Construction
    TILT-UP CONCRETE
    Lot size
    0.03 lot acres
    Property size
    2,500 SF
    Zone code
    LBPD30
    Property type
    Office buildings
    APN
    7280-020-032
    APU
    7280020032

    Description

    Located in Long Beach, Los Angeles County, this exceptional office space offers a diverse range of solutions to meet your business needs. Whether you require a private, fully furnished office for a single employee or a large team, a collaborative coworking environment, or simply a convenient meeting room, this location provides adaptable options. Tailored office spaces can accommodate teams of any size, from one to over 100 desks, with customizable layouts to perfectly suit your company's requirements. The property offers serviced and custom office spaces, disaster recovery spaces, and day offices, providing flexible access based on your needs. A comprehensive benefits program includes exclusive discounts and bespoke procurement support for tenants. Coworking options range from dedicated desks to hot-desking, fostering a collaborative atmosphere. Numerous meeting rooms are available, equipped with the latest technology and catering options. Virtual office solutions are also offered, including prestigious business addresses, mail handling, and professional virtual assistant services. Flexible working plans provide access to a global network of business lounges, private offices, and coworking spaces, offering unparalleled convenience and flexibility. The space caters to various business types, including traditional, executive, medical, and creative offices. Note that images shown may not represent this specific center. Pricing is subject to change based on the chosen services and space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $955,000
      ML approach
      $1,125,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,130,000
      6.5%
      $1,045,000
      7%
      $970,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,509,000
      Market price range: $477k - $1.51M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Long Beach
    County
    Los Angeles
    State
    California
    Longitude
    -118.192
    Latitude
    33.7703
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $20,213
    $520,200
    $988,380
    $1,508,580
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      $515,000
      196,132 SF

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      View Details
    • Value Estimation
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      482 SF

      639 Alamitos Ave

      OFFICE BUILDING • 482 SF
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    • Value Estimation
      $210,000
      110 SF

      333 Broadway

      OFFICE BUILDING • 110 SF
      333 Broadway, Long Beach, CA 90802-4437
      View Details
    • Value Estimation by Request
      49,436 SF

      150 Long Bch Blvd

      OFFICE BUILDING (MULTI-STORY) • 49,436 SF
      150 Long Bch Blvd, Long Beach, CA 90802-4817
      View Details
    • Value Estimation by Request
      620,523 SF

      501 Ocean Blvd

      OFFICE BUILDING (MULTI-STORY) • 620,523 SF
      501 Ocean Blvd, Long Beach, CA 90802-4213
      View Details
    • Value Estimation
      $190,000
      1,776 SF

      425 4th St Ste A

      OFFICE BUILDING • 1,776 SF
      425 4th St Ste A, Long Beach, CA 90802-2569
      View Details

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      East Village Adaptive Reuse Opportunity

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    Similar Nearby for Lease

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      24,370 SF

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    120 3Rd St
    Long Beach, CA 90802
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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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