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225 Orange Avenue, Long Beach, CA

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225 Orange Avenue

Long Beach, CA 90802 - Long Beach: Downtown Submarket

Property Type:Retail Sub Type:Convenience Store Status:Existing Year Built:1976
Building Size:2,400 SF Land Area:.16 AC (6,778 SF)
For Sale Price:$3,808,020 Price/SF:$1,586.68
Cap Rate:3.75 %
Parking:Free Surface spaces are available; Ratio of 2.65/1,000 SF

Sale Notes:
We are pleased to present a rare opportunity to purchase a trophy located NNN
retail investment in Long Beach CA. The property consists of a fee simple,
absolute NNN corporate guaranteed lease to 7 Eleven Inc. Having occupied this
location for over 40 Years since 1976, 7 Eleven recently signed a new 10 year
lease extension that includes 2 - 5 year option periods. There are fixed 10%
rental increases every 5 years, including options. Store Sales at this location
are exceptional, being reported at over $2,347,541 for 2015. The strength of
this store is much in part to its dense infill location, surrounded by multifamily
apartments in all directions creating high barriers to entry and limited options
for competing uses. Due to very limited onsite residential parking for the many
multi-family apartment complexes in the immediate trade area a unique urban
and pedestrian environment is prevalent.
The property is strategically located at the hard corner of Orange Avenue
and Broadway within a half-mile to the Long Beach Convention Center and
Downtown Long Beach. There are over 60,000 people within a 1-mile
radius and over 251,000 people in a 3 mile radius. 7 Eleven Inc. is the largest
convenience store chain in the world that is currently rated AA-, Outlook:
Stable by Standard and Poor (Investment Grade) in a rare southern California
location. 7-Eleven owns and operates over 50,000 stores across the globe
and generates approximately $84 Billion in annual sales while employing over
45,000 people. Long Beach, CA is the 36th largest city in the US - home to
the 2nd largest container port in the world.

Colliers International
Eric Carlton
(949) 724-5561

John Sharpe
(949) 724-5546

Jereme Snyder
(949) 474-0707

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