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Property profile & analytics
OFF-MARKET
Estimated value
$12,460,000
Medical Office Space
2699 Atlantic Ave, Long Beach, CA 90806-2710
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-0428401
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1946
Construction
TILT-UP CONCRETE
Total area
48,480 SF
Lot
2.04 ac (89,024 SF)
Zoning code
LBCHW
APN
7207-013-063
UPID
US10-0428401
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
-
Dr. Michael H. Le, MD Physician
-
Mc Fadden Colette M MD Physician
-
HealthCare Partners Medical Group
-
Healthcare Partners: Mullins Keith M MD Physician
-
Dr. Donald G. Brown, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.92M
CAP Approach
CAP
$11.37M
Comparable Approach
Comparable
$8.16M
Blend (final)
Blend
$12.46M
Owner & transaction history
Sierra Health And Life Insurance Co · 2 yrs held
Sierra Health And Life Insurance Co
since 2023
Last sale
$17.1M
6 recorded transactions
Zoning & alternative use
LBCHW · 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
$12,120,000
ML approach
$8,915,000
CAP Approach
CAP Return
Estimation
6%
$12,310,000
6.5%
$11,365,000
7%
$10,550,000
Blend value · Realmo final
$12.46M
Range $11.21M – $13.71M · ±10% · vs last sale $17.10M (Dec 19 2023)
Last sale anchor
$17.10M
Dec 19 2023
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
$257 / 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
$228,624
Tax year 2024
Assessed value
$17,100,000
Assessed 2024
Previous assessed
$17,100,000
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$7,400,000
Assessed improvement
$9,700,000
Applied tax rate
11.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1946
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
OTHER
Stories
1
Units
1
Total area
48,480 SF
Lot
2.04 ac (89,024 SF)
Zoning code
LBCHW
APN
7207-013-063
UPID
US10-0428401
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LBCHW · Long Beach, CA
Zoning LBCHW · permitted uses
LBCHW · 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.
Building & site characteristics
From public records
Year built
1946
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
2.04 ac
Current owner
From public records · entity-resolved
Sierra Health And Life Insurance Co
Entity
Mailing address
9900 BREN RD E, MINNETONKA, MN 55343-9603
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2023
$17,100,000
Sierra Health And Life Insurance Co
James D Wallace
Grant Deed
—
Dec 19, 2023
—
James D Wallace
Medical Equity I LP
Grant Deed
—
Aug 28, 1991
$1,850,000
Medical Equity I
Memorial Health
Grant Deed
related
$2,200,000 · Farmers & Merchants Bk Lng Bch
Oct 10, 1989
$2,100,000
Jones A Harriman
Memorial Health
Grant Deed
—
—
—
Medical Equity I
—
Deed Of Trust
related
$2,500,000 · Farmers & Merchants Bk Lng Bch
—
—
Medical Equity 1
—
Deed Of Trust
related
$1,760,000 · Mellon First Business 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.
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