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Price Reduced! Alamitos Plaza 1004-1006 Alamitos Ave

5,300 SF 61% Leased Retail Building Long Beach, CA 90813 £1,917,003 (£362/SF) 5.89% Net Initial Yield

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Executive Summary

Calla Commercial is pleased to present this opportunity to acquire a multi-tenant (6 suites) retail "Alamitos Plaza" located on East 10th St. and Alamitos Ave just blocks from Downtown Long Beach and Alamitos Beach. The site is also conveniently located near Cambodia Town, Signal Hill, Circle Area, Belmont Heights, and Belmont Shores. Stated Cap Rate is Pro-Forma Only as there are currently two vacant suites 1004-1006 (formerly occupied by a laundromat). Seller is open to partially carrying back (max. 50% of purchase price) "Seller Finance" at negotiable terms for the right qualified individual.
Brochure available upon request. Absolutely Do Not Approach the Tenants.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

5,300 SF

Building Class

Year Built/Renovated

1958/2007

Price

£1,917,003

Price Per SF

£362

Net Initial Yield

5.89%

NOI

£112,850

Percent Leased

61%

Tenancy

Multiple

Number of Floors

Building FAR

0.45

Land Acres

0.27 AC

Opportunity Zone

Yes

Zoning

C - Commercial

Parking

11 Spaces (2.08 Spaces per 1,000 SF Leased)

Frontage

184 ft on Alamitos Ave.

Space Availability

1st Floor
2,044 SF
Retail
-
Now

Successful laundromat left plumbing and ventilation in place. The owner moved out of country. Busy corner with a lot of foot traffic. Located right in the middle of your customer base. A lot of older apartments and homes in the vicinity that need laundry services. Other tenants include a liquor store, donut shop, smoke shop and cell phone shop. $60,000 worth of laundromat plumbing and venting included. Just need the machines and some minor cosmetic repairs to open. The owner is willing to negotiate tenant improvements. If you are interested in converting the store into something else, the owner is willing to consider this option as well. Everything is negotiable.