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5166 - 5190 Atlantic Avenue - Atlantic Plaza, Long Beach, CA

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5166 - 5190 Atlantic Avenue - Atlantic Plaza

Long Beach, CA 90805-6510 - Mid-Cities Submarket

Property Type:Retail Sub Type:- Status:Existing Year Built:1958
Building Size:32,728 SF Land Area:1.86 AC (80,873 SF)
For Sale Price:$9,018,000 Price/SF:$275.54
Cap Rate:5.75 %
Parking:Free Surface spaces are available; Free Covered spaces; Ratio of 4.16/1,000 SF
Features:Enterprise Zone, Signalized Intersection

This retail building is located adjacent to the Las Carmilitas Housing Project. There is a 23,500 traffic count on Atlantic Ave. It has easy access to the 405, 91, & 710 freeways and is located in the Long Beach Enterprise Zone.

Sale Notes:
* Rare Acquisition Opportunity Acquire a desirable convenience center in the densely populated, infill city of Long Beach, featuring nearly 50,000 residents within a 1-mile radius of the property

* Internet Resistant Tenancy Synergistic tenant mix of grocery, food and service tenancy creates a strong daily needs draw generating high frequency foot traffic. These non-commodity uses provide a bulwark to the threat of internet competition

* Immediate Upside At 93% occupancy, 2,158 SF of the property is available for lease, providing the potential to add over $25,000 to the NOI (19%) in the near term

* Excellent Income Stability Only 1 tenant, 4% of the in place GLA, has a lease expiring within the next 3 years, providing excellent near-term security

* Proximate to Major Freeways Atlantic Plaza is ideally located less than 1.5 miles from the I-710, 1.7 miles from the CA SR-91 and 2 miles from the I-405 providing a centralized location between 3 of California' s busiest freeways

Phil D Voorhees
(949) 725-8521

Kirk Brummer
(949) 725-8500

John Read
(949) 725-8606

Jimmy Slusher
(949) 725-8507

Megan Wood
(949) 725-8423

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