402 West 5th Street is a ±4,400 SF, two-building NNN retail investment in San Pedro, CA, fully leased to Rebud, a licensed cannabis retailer that opened in March 2026 after renovating the space. The brand-new 5-year lease runs through March 31, 2031, with three 5-year options, 3% annual rent increases, and minimal landlord responsibilities (roof, structure, and any tax overage above the tenant's Prop 13 cap). The site benefits from an exceptional location adjacent to newly developed residential communities, the historic Warner Grand Theater, and a thriving mix of local restaurants and breweries. Situated at the signalized corner of West 5th and South Mesa Street, it is also less than a mile from the San Pedro Cruise Terminal, which draws 1.6 million annual visitors, and the soon-to-open LA Waterfront, a 42-acre mixed-use district anchored by a new 55,000 SF San Pedro Fish Market building, a 6,200-seat amphitheater, and a 175-foot Ferris wheel. Just a few blocks away, San Pedro's Historic Downtown & Arts District offers additional neighborhood vibrancy, including the monthly First Thursday Art Walk and the CRAFTED artisan marketplace at the Port of Los Angeles. Combined with strong area demographics — more than 110,127 residents and an average household income of $116,980 — 402 West 5th Street represents a well-located, low-maintenance NNN investment opportunity in one of Los Angeles County's most dynamic waterfront restaurants.