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Property profile & analytics
FOR SALE
Grocery and convenience stores
1429 Cherry Ave Long Beach, CA 90813
Individually Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6403228
For Sale
1 / 17
$1,056,000
1429 Cherry Ave, Long Beach, CA 90813
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1962
Construction
WOOD
Total area
3,536 SF
Lot
0.14 ac (6,081 SF)
Zoning code
LBCNR
APN
7261-017-027
UPID
US09-6403228
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Meat Market Carnes Y Verduras Take-out & Catering Butcher
-
Cherry’s Market Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$775k
Comparable Approach
Comparable
$437k
Blend (final)
Blend
$655k
Owner & transaction history
Mayank Dhirajlal Bhimani · 6 yrs held
Mayank Dhirajlal Bhimani
since 2019
7 recorded transactions
Zoning & alternative use
LBCNR · Long Beach, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Long Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$840,000
6.5%
$775,000
7%
$720,000
Alternative Use
Use
Estimation
RETAIL STORES
$885,000
Current use
COMMERCIAL (GENERAL)
$850,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$655k
Range $590k – $721k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$185 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$10,464
Tax year 2024
Assessed value
$729,094
Assessed 2024
Previous assessed
$729,094
+0.0% YoY
Effective rate
1.44%
On assessed value
Assessed land
$482,490
Assessed improvement
$246,604
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Sale
Year built
1962
Construction
WOOD
Heating
NONE
Stories
1
Total area
3,536 SF
Lot
0.14 ac (6,081 SF)
Zoning code
LBCNR
APN
7261-017-027
UPID
US09-6403228
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LBCNR · Long Beach, CA
Zoning LBCNR · permitted uses
LBCNR · Long Beach, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Long Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$885,000
COMMERCIAL (GENERAL)
Est. value
$850,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1962
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Mayank Dhirajlal Bhimani
Individual
Mailing address
20070 BERKELEY WAY, YORBA LINDA, CA 92886-6508
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2021
—
Mayank Dhirajlal Bhimani
—
Deed
related
$1,303,000 · The Bancorp Bank
Dec 6, 2019
$550,000
Mayank Dhirajlal Bhimani
Woo K Kim
Grant Deed
$482,000 · Cathay Bank
Jun 21, 2011
$500,000
Woo K Kim
Cho,hamee J
Grant Deed
$468,000 · Open Bank
Jul 23, 2007
—
Hamee J Cho
Cho,brian
Quit Claim Deed
related
—
Aug 4, 2006
$520,000
Brian Cho
Kim,sunae
Grant Deed
$338,000 · Nara Bank
Apr 16, 2004
$480,000
Sunae Kim
Chu,kyong S & Kum C
Grant Deed
$432,000 · Uniti Bank
Jul 18, 2003
$400,000
Kyong S Chu
Suh,steven & Kyong H
Grant Deed
$360,000 · Pacific Union Bank
Aug 28, 1992
—
Steven Suh
—
Deed Of Trust
related
—
Oct 21, 1991
$170,000
Steven Suh
Yee,jack C
Grant Deed
$283,000 · Pacific Inland Bank
—
—
Steven Suh
—
Deed Of Trust
related
$100,000 · Hanmi Bank
—
—
Yee
—
Deed Of Trust
related
$70,000 · United American Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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