Kraken Kafe | 601 Pacific Ave S
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Kraken Kafe 601 Pacific Ave S
4,224 SF 100% Leased Retail Building Long Beach, WA 98631 £784,912 (£186/SF) 7.07% Net Initial Yield
Investment Highlights
- 80 ft of Pacific Ave. frontage in the heart of downtown Long Beach.
- Turn-key business and property combo with plenty of off street parking.
- Multi-Use Zoning allows STR, Long term rentals, and Commercial use.
Executive Summary
LOCATION, LOCATION, LOCATION! This turn-key versatile multi-use property + thriving businesses is the investment at the beach that you have been dreaming of! Completely remodeled in 2022 this prime piece of real estate boasts 80 ft of Pacific Ave. frontage perfectly positioned in the heart of downtown Long Beach. Kraken Kafe has quickly become the quintessential spot to get your caffeine fix before renting bikes at Tsunami Cycle to ride the famed 8.5 mile Discovery Trail. All FOUR rental units are tastefully updated with vinyl plank flooring and fresh paint inside & out. The firepit, fenced yard & plenty of off street parking round out this solid investment. Step into the current owners success or build on it and make your dreams a reality!
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,224 SF
Building Class
C
Year Built
1988
Price
£784,912
Price Per SF
£186
Net Initial Yield
7.07%
NOI
£55,517
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.35
Land Acres
0.28 AC
Zoning
UGA - OT Old Town District is to provide a compact retail core that will stimulate foot traffic, promote tourism and serve the needs of visitors.
Parking
8 Spaces (1.89 Spaces per 1,000 SF Leased)
Frontage
80 ft on Pacific Ave. S
PROPERTY TAXES
| Parcel Number | 10111633020 | Total Assessment | £309,365 |
| Land Assessment | £130,230 | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £179,135 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
10111633020
Land Assessment
£130,230
Improvements Assessment
£179,135
Total Assessment
£309,365
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
-
Erin Marsh -
Realty One Group Pacifica
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Kraken Kafe | 601 Pacific Ave S
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