5764 & 5780 E 2nd Street
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5764 & 5780 E 2nd Street
2 Retail Properties Offered at £3,923,970 in Long Beach, CA
INVESTMENT HIGHLIGHTS
- Significant Upside Potential - reposition the building, replace the MTM tenants, and attract a higher quality tenant mix
- Huge NOI Growth - upon stabilization of the property, new owner will realize a significant increase in NOI over the life of the investment
- Owner/User Opportunity - purchase for cash and occupy all, or a portion, of the vacant space
- Seller Financing Available - call broker for details
EXECUTIVE SUMMARY
5764 & 5780 E. 2nd Street is located on Naples Island, between the world-renowned Pacific Coast Highway and the coastal community of Belmont Shore. A new owner could either purchase the subject property to occupy all, or a portion, of the vacant space or implement a reposition plan that would attract higher quality commercial tenants and significantly increase cash flow over the investment period.
The first floor consists of two (2) ground level retail units and one (1) freestanding retail building. One of the ground level retail units is leased to Naples Wine and Spirits on a month-to-month lease and the other ground level retail unit is currently vacant. The freestanding retail building is leased to Valentino's Pizza on a short-term lease that expires August 31, 2027, with no options to extend. The second floor consists of a wine storage business (currently operated by Seller) and a private banquet room (currently occupied by Seller). The third floor consists of two (2) apartments units (one studio unit and one 1-bedroom unit) both on below market MTM leases.
The first floor consists of two (2) ground level retail units and one (1) freestanding retail building. One of the ground level retail units is leased to Naples Wine and Spirits on a month-to-month lease and the other ground level retail unit is currently vacant. The freestanding retail building is leased to Valentino's Pizza on a short-term lease that expires August 31, 2027, with no options to extend. The second floor consists of a wine storage business (currently operated by Seller) and a private banquet room (currently occupied by Seller). The third floor consists of two (2) apartments units (one studio unit and one 1-bedroom unit) both on below market MTM leases.
PROPERTY FACTS
| Price | £3,923,970 | Number of Properties | 2 |
| Price / SF | £298.20 / SF | Individually For Sale | 0 |
| Sale Condition | High Vacancy Property | Total Building Size | 13,159 SF |
| Sale Type | Investment or Owner User | Total Land Area | 0.23 AC |
| Status | Active |
| Price | £3,923,970 |
| Price / SF | £298.20 / SF |
| Sale Condition | High Vacancy Property |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 13,159 SF |
| Total Land Area | 0.23 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 5780 E 2nd St, Long Beach, CA 90803 | Retail | 1,251 SF | 1944 | - |
| 5764 E 2nd St, Long Beach, CA 90803 | Retail | 11,908 SF | 1965 | - |
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5764 & 5780 E 2nd Street
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