631 Long Beach Blvd Long Beach, CA 90802

Property Details for 631 Long Beach Blvd

Year built

2002

Construction

WOOD

Lot size

0.54 lot acres

Property size

2,516 SF

Zone code

LBPD30

Property type

Commercial kitchens

APN

7273-026-022

APU

7273026022

Description

This exceptional investment opportunity presents a 2,515 sq ft El Pollo Loco restaurant on a 23,847 sq ft lot in Long Beach, CA. The property boasts a strong corporate guarantee, a remaining lease term of 2.1 years (expiring 12/14/2026), and built-in rent bumps of 15% every 5 years. The current NOI is $98,035, with a pro-forma NOI of $120,605, yielding a 2.58% cap rate and a pro-forma cap rate of 3.45%. The property features 25 parking spaces and is situated on a high-traffic section of Long Beach Boulevard, benefiting from excellent visibility and accessibility. Built in 2001 and renovated in 2022, the single-story building is zoned LB PD30, allowing for potential high-density residential development. The asking price is $3,495,000, representing $1,389.66 per square foot and $161.79 per square foot for land value. This fee-simple ownership, ground-leased property is ideal for a 1031 exchange and offers a passive income stream with minimal landlord responsibilities. The property's location near major freeways and employment centers, along with its proximity to other national brands, further enhances its investment appeal. The tenant, El Pollo Loco, has demonstrated a long-term commitment to the location, having exercised a lease option in 2021. This presents a compelling opportunity for investors seeking a stable, high-growth potential investment in a prime Los Angeles County location.