2100 N Bellflower Blvd - Retail FOR SALE


Long Beach, CA 90815- Los Altos
$28,708,000 USD
949-725-8606
2100 N Bellflower Blvd, Long Beach, CA for Sale
$28,708,000 USD
Retail - FOR SALE
1/6
null | 6.25% Cap Rate

2100 N Bellflower Blvd
Long Beach, CA 90815
Los Altos


HIGHLIGHTS

  • Rare LA County STNL Opportunity – High-quality STNL retail assets leased to established tenants seldom come to market in Southern California
  • Established California Retailer – 100% leased to The Sports Basement, Inc.
  • Long-Term Lease – Sports Basement is on a 15-year NNN lease and has over 13 years of firm remaining lease term
  • Beneficial NNN Lease & CAM Structure – The tenant is responsible for full reimbursement for property taxes & insurance as well as the Fixed CAM Costs
  • Highly Invested Tenant – In addition to its long-term lease commitment, Sports Basement has invested significant capital

OVERVIEW

* Rare LA County STNL Opportunity – High-quality STNL retail assets leased to established tenants seldom come to market in Southern California, let alone in coastal and infill Long Beach, presenting an exceptional opportunity to acquire a highly secure STNL asset with a long-term NNN lease located in a premier, supply-constrained retail corridor. * Established California Retailer – 100% leased to The Sports Basement, Inc., a California-based sporting goods retailer that has continued to grow since 1998 and now operates 15 stores throughout California, widely recognized as a top tier provider of a variety of sports, outdoor, fitness, and casual gear and apparel as well as rentals, repair services, and community spaces. * According to Placer.ai, this Sports Basement store is ranked #2 within the chain for visits. * Long-Term Lease – Sports Basement is on a 15-year NNN lease and has over 13 years of firm remaining lease term with 10% rental increases every 5 years and two 5-year options to renew thereafter. * Beneficial NNN Lease and CAM Structure – The tenant is responsible for full reimbursement for property taxes and insurance as well as the Fixed CAM Costs allocated to this property per the REA, benefitting the passive nature of this investment as well as limiting future property related costs. * Highly Invested Tenant – In addition to its long-term lease commitment, Sports Basement has invested significant capital into exterior and interior improvements for this store’s use and functionality, proving its additional commitment to this location. * Best of Class Retail – Sports Basement is located within Los Altos MarketCenter, a best of class, grocery anchored retail center with Lazy Acres Natural Market, TJ Maxx, LA Fitness, CVS, Wells Fargo, Pet Supplies Plus, Memorial Care Medical Group, Southland Physical Therapy, IHOP, Pick Up Stix, and many more, proving the viability of this location with unsurpassed quality given Sports Basement’s improvements and its co-tenants within the center.

FOR SALE DETAILS

PRICE

$28,708,000 USD

PRICE/SF

$195 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sports Basement

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1996

SPRINKLERS

-

PARKING SPACES

975

LAND DETAILS

LAND ACRES

1.06 AC

LAND SF

46,174 SF

ZONING

CCA, Long Beach

APN/PARCEL ID

7225-001-006

ASK ABOUT THIS PROPERTY

John ReadCBREMore Info
949-725-8606

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John ReadCBREMore Info
949-725-8606

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