2500 Artesia Blvd Redondo Beach, CA 90278
- Retail space
- 3,218 SF
- 0.22 lot acres
Current Use by Public Records
- Sandbox Smoke Shop / Tobacco Shop / Vaporizer Store
Property Details for 2500 Artesia Blvd
- Year built
- 1948
- Construction
- WOOD
- Lot size
- 0.22 lot acres
- Property size
- 3,218 SF
- Zone code
- RBC-2-PD
- Property type
- Retail space
- APN
- 4157-001-023
- APU
- 4157001023
Description
This exceptional Redondo Beach retail property presents a compelling value-add redevelopment opportunity. Located at 2500 Artesia Blvd, 90278, this 3,218 square foot building sits on a 9,758 square foot corner lot in Los Angeles County, zoned RBC-2-PD. Built in 1948, the single-story structure offers 15 parking spaces and is currently vacant, allowing for immediate occupancy. The asking price is $2,799,999, translating to $870.11 per square foot and $307.44 per square foot for the land. The property features a gross lease type with no tenant credit and a 50% occupancy rate as of May 1, 2023. The building has two units and is suitable for various uses, including a bar, convenience store, or restaurant. Its prime location ensures high visibility and significant daytime traffic. The property's potential for redevelopment and its possible suitability for licensed cannabis retail adds further investment appeal. The APN is 4157-001-023. This is a rare opportunity to acquire a well-positioned retail space in a thriving coastal community. The property can be delivered vacant at the close of escrow.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Redondo Beach
- County
- Los Angeles
- State
- California
- Longitude
- -118.366
- Latitude
- 33.8725
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
