6350 Long Bch Blvd Long Beach, CA 90805-2158

Property Details for 6350 Long Bch Blvd

Year built

1976

Construction

TILT-UP CONCRETE

Lot size

0.11 lot acres

Property size

3,948 SF

Zone code

LBCCA

Property type

Retail space

APN

7305-015-027

APU

7305015027

Description

This exceptional investment opportunity presents a 5,676 square foot, two-tenant retail property located at the highly visible, signalized corner of Long Beach Boulevard and Bort Street in Long Beach, California. The property, built in 1961 and renovated in 2007, sits on a 16,272 square foot lot and boasts a 6.01% cap rate at the asking price of $2,725,000. The property features two long-term tenants, Golden Burger and London Liquor, both established businesses operating since 1968 and 1972 respectively. Each tenant occupies approximately 1700 square feet and 3976 square feet respectively, under a triple-net (NNN) lease with fixed annual rent bumps and approximately 3.9 years remaining until lease expiration on September 30, 2028. The current NOI is $163,800, with a pro-forma NOI of $205,374, reflecting a pro-forma cap rate of 7.54%. The property benefits from its location on a busy thoroughfare with over 20,000 cars daily, excellent parking, and proximity to major freeways (91 and 710). The permitted zoning is LBC CA. This is a low-management, high-return investment in a densely populated area with over 600,000 residents within a 5-mile radius. The property offers significant upside potential with its strong tenant history and prime location.