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Retail space
CA
Long Beach
90802
129 5th St

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FOR SALE

Retail space

129 W 5Th St Long Beach, CA 90802

5,050 SF 0.12 ac lot Built 1942

Entity Owned 21-yr Hold Absentee Owner Free & Clear

Property ID

US10-0433377

$1,895,000 5,050 SF

129 W 5Th St, Long Beach, CA 90802
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This exceptional 10,000-square-foot commercial property, located at 129 W 5th Street in Long Beach, California, presents a unique investment opportunity. The two-story building, constructed in 1942, sits on a 5,295-square-foot lot and boasts a significant bonus: a 5,000-square-foot basement (not included in the 10,000 SF total). The building is zoned LBPD30 and is currently configured as an event center and co-working space, offering flexibility for various uses. The first floor features a lobby with a reception area, three large rooms, three restrooms, and a music room. The second floor includes a spacious open kitchen, a private sitting area, three restrooms, a meditation room, and open office space with three private, window-lined rooms. This turnkey property offers an owner/user the advantage of a prime downtown Long Beach location, with easy access to public transportation (Metro A Line station nearby), abundant retail amenities, and a high walk score of 99. The asking price is $3,195,000, translating to $319.50 per square foot (excluding the basement). The property is for sale by owner, with a triple net (NNN) lease in place expiring December 1, 2024. This versatile space is ideal for both retail and office uses.