1002-1012 Alamitos Ave - Freestanding FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$1,950,000 USD
213-943-1822
1002-1012 Alamitos Ave, Long Beach, CA for Sale
$1,950,000 USD
Freestanding - FOR SALE
1/6
null | 6.24% Cap Rate

1002-1012 Alamitos Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Infill Long Beach strip center at a signalized hard corner with 27,000 VPD and strong street-front visibility.
  • Ideal entry-point for private investors with attractive pricing and manageable building size.
  • 6.24% CAP rate with upside to 7.02% by 2027, backed by steady in-place cash flow.
  • NNN leases with 4-year WALT and 3% annual bumps on most leases provide built-in rent growth.
  • Daily needs tenant mix with strong occupancy, healthy rent levels, and efficient CAM recovery.
  • 416K+ residents within 5 miles; $107K avg. income and $239K+ annual retail spend per household.

OVERVIEW

The Ovaness-Rostamian Group of Marcus & Millichap is pleased to present the opportunity to acquire a well-located infill retail center in the heart of Long Beach, California. Strategically positioned at a signalized hard corner with visibility to over 27,000 vehicles per day, the property offers excellent frontage, strong accessibility, and consistent foot and vehicular traffic. The asset is anchored by a complementary mix of daily needs tenants, providing a reliable income stream with a favorable rent and CAM ratio. In-place rents average $2.45/SF/Month, reflecting healthy and sustainable levels that are considered easily replaceable in today's leasing environment. Additionally, most leases feature annual rent increases, ensuring built-in income growth over the hold period. With a weighted average lease term (WALT) of four years, investors benefit from immediate cash flow at 6.24% going-in cap rate, with upside to a 7.02% cap rate by 2027. through modest rent growth and tenant rollover. Located in a dense, mature trade area, the center is supported by over 416,000 residents within a five-mile radius and boasts an average household income of $107,210. Additionally, average household retail expenditure within this radius reaches $239,585 annually, highlighting strong consumer spending and demand for essential retail services. This offering presents an exceptional opportunity for private investors to acquire a stable, cash-flowing retail asset in a supply-constrained coastal submarket with long-term growth potential.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$368 USD /SF

CAP RATE

6.24%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Alamitos Plaza Infill Long Beach Strip Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1958

SPRINKLERS

-

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

C

APN/PARCEL ID

7267-005-020

ASK ABOUT THIS PROPERTY

Orbell OvanessMarcus & MillichapMore Info
213-943-1822

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Orbell OvanessMarcus & MillichapMore Info
213-943-1822

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.