3631 Santa Fe Ave Long Beach, CA 90810-2153

Property Details for 3631 Santa Fe Ave

Year built

1956

Construction

TILT-UP CONCRETE

Lot size

0.27 lot acres

Property size

1,386 SF

Zone code

LBCNA

Property type

Gas stations

APN

7317-006-026

APU

7317006026

Description

This exceptional investment opportunity presents a 1,386 square foot, single-tenant, absolute NNN leased convenience store and gas station located at 3631 Santa Fe Ave, Long Beach, CA 90810. The property, built in 1956 and situated on a 0.27-acre lot, boasts six gas pumps and ample parking for one vehicle. Currently operating under a 20-year lease with United Pacific (76 Gas), the lease commenced July 1, 2014, and has approximately 9.6 years remaining, expiring June 29, 2034. The lease includes three 5-year renewal options with a 7.50% rent increase in July 2029 and each subsequent option period. The property generates a strong net operating income (NOI) of $125,000, resulting in a compelling 5.75% cap rate. The asking price is $2,173,913. This fee-simple ownership offers the potential for bonus depreciation benefits. The property benefits from its location in a high-traffic area within Los Angeles County, providing excellent visibility and access. The tenant, United Pacific, is a joint venture between subsidiaries of Phillips 66 and Fortress Investment Group, LLC, and operates a significant number of retail gas stations across multiple states. This offering presents a rare opportunity to acquire a well-established, high-performing asset with a long-term lease and significant upside potential. The business itself is not for sale.