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5030 E 2nd St
Long Beach, CA 90803 Belmont Shore

$4,250,000 USD

Storefront Retail Office For Sale  •  13,244 SF

Property Details

  • Property Type Storefront Retail Office
  • Total Building Size 13,244 SF
  • Lot Size 0.16 AC
  • Building Class C
  • Year Built 1978
  • Tenancy Multiple
  • Zoning CL
35 Transit Score
97 Walk Score

Highlights

Located along iconic 2nd Street, one of Southern California’s most desirable and supply-constrained coastal retail corridors
100% passive ownership; lessee is responsible for all taxes, insurance, and maintenance.
17-year remaining term (through 2042) with three 5-year renewal options.
2% annual increases during the base term, then greater of CPI or fixed rent increases at each option period.
Average Base Term Cap Rate of ±4.4% with minimum escalations to 6.19%, 7.17% and 8.32% in respective option periods.
Current rent is significantly below market, offering strong reversionary IRR upside upon lease expiration.

Public Transportation

AirportDriveWalkDistance
Long Beach (Daugherty Field) 13 min - 6.3 mi
John Wayne/Orange County 25 min - 17.6 mi
Los Angeles International 37 min - 25.1 mi

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Ryan Sharpe 310-893-3397 Kidder Mathews
Ryan Sharpe 310-893-3397 Kidder Mathews