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81 Pier Avenue, Hermosa Beach, CA

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81 Pier Avenue

Hermosa Beach, CA 90254-3733 - Beach Cities/Palos Verdes Submarket

Property Type:Retail Sub Type:Bank Status:Existing Year Built:1971
Building Size:3,909 SF Land Area:.12 AC (5,388 SF)
For Sale Price:$10,130,000 Price/SF:$2,591.46
Cap Rate:-

Sale Notes:
Gelber Realty Corporation is pleased to offer for sale a 13-year absolute NNN leased investment with 7.5% rental increases every five years. The property is leased to Citibank, N.A., a wholly owned subsidiary of Citigroup, the third largest bank holding company in the United States.

The freestanding asset, located 500 feet from the beach, is strategically located in the intersection of Hermosa Avenue and Pier Avenue in the heart of downtown Hermosa Beach and features high pedestrian and vehicular traffic. The property is located at the main intersection of a commercial district and affluent residential housing. Pier Avenue is the city's major commercial zone and is lined with an abundance of retail and dining establishments. The surrounding affluent community boats an average household income exceeding $124,000 within a 1-mile radius.

Gelber Realty Corporation
Steve B Gelber
(310) 824-4999 x15

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