Sold
2035 Pacific Avenue
Long Beach CA, 90806
$575,000
$161.52 per sqft
Sold
3,560 sqft
Commercial
Built in 1948
Live/work and medical/dental conversion allowed per the City of Long Beach. We are please to present this vacant in-fill retail building on the highly trafficked Pacific Avenue retail corridor in Long Beach's famed South Wrigley shopping corridor. The property is located just blocks from the Northgate Market, The Wrigley Tavern, Happy Thai, Wicked Wolf Long Beach, Gaucho Beach Cafe and Gabriel's Burgers. This fully vacant building is also offered for lease at $1.19 per square foot, modified gross, making this a pro forma 9.4% cap rate upon stabilization. The building has been renovated and includes a roof replacement, clean interiors, HVAC systems, four car parking in the rear, a door in the rear, high ceilings, 40' of frontage on Pacific Ave, a 600 AMP electrical panel that is not currently connected, fresh paint, and a clean interior. Flexible LBCNP zoning allows for several uses including live-work lofts, restaurants and professional offices. This is perfect for an owner-user wanting to take advantage of SBA or other commercial financing opportunities, or an investor wanting to collect a 9.4% stabilized cap rate return upon completion of building lease-up.
CL24354181
MLSⓇ ID
February 2, 2024
Listed
December 13, 2024
Updated
Map
2035 Pacific Avenue
Long Beach CA, 90806
Interior Features
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.11 Acres
Other Property Details
Area Name
Long Beach
Garage
No
Parking Total
4
View
No
County
Los Angeles
Pool
No
Zoning
LBCN
Listing History
Date | Event | Price |
---|---|---|
11/19/2024 | Sold | $575,000 |
10/25/2024 | Pending | — |
9/18/2024 | Price change | $595,000 -1% |
9/3/2024 | Price change | $599,000 -21% |
8/15/2024 | Price change | $750,000 15% |
7/29/2024 | Price change | $649,000 5% |
7/25/2024 | Price change | $615,880 -6% |
6/24/2024 | Active | — |
6/24/2024 | Price change | $649,000 -7% |
6/11/2024 | Pending | — |
4/16/2024 | Price change | $697,000 -7% |
3/25/2024 | Price change | $749,000 -6% |
2/10/2024 | Price change | $795,000 -10% |
2/9/2024 | Price change | $795,000 -10% |
Listed by Oron Maher with Maher Commercial Realty
Listing Contact: 310-464-1453
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