5030 E 2nd St - Storefront Retail/Office FOR SALE
Long Beach, CA 90803 |
5030 E 2nd St
Long Beach, CA 90803
HIGHLIGHTS
- Located along iconic 2nd Street, one of Southern California’s most desirable and supply-constrained coastal retail corridors
- 100% passive ownership; lessee is responsible for all taxes, insurance, and maintenance.
- 17-year remaining term (through 2042) with three 5-year renewal options.
- 2% annual increases during the base term, then greater of CPI or fixed rent increases at each option period.
- Average Base Term Cap Rate of ±4.4% with minimum escalations to 6.19%, 7.17% and 8.32% in respective option periods.
- Current rent is significantly below market, offering strong reversionary IRR upside upon lease expiration.
FOR SALE DETAILS
PRICE
-
CAP RATE
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% LEASED
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TENANCY
-
BUILDING DETAILS
PROPERTY NAME
THE CORNER OF 2ND & GRANADA
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Storefront Retail/Office
TOTAL BUILDING SIZE
10536
STORIES
2
YEAR BUILT
1978
SPRINKLERS
-
PARKING SPACES
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LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
7247-003-005
