5991 Atlantic Ave - Restaurant FOR SALE


Long Beach, CA 90805- Bixby Knolls
$1,350,000 USD
562-366-3312
5991 Atlantic Ave, Long Beach, CA for Sale
$1,350,000 USD
Restaurant - FOR SALE
1/24
null | 6.67% Cap Rate

5991 Atlantic Ave
Long Beach, CA 90805
Bixby Knolls


HIGHLIGHTS

  • Price reduced to $1,350,000 — a rare basis for a free-standing drive-thru restaurant in Southern California.
  • Existing drive-thru already built and operating, an asset that has become increasingly difficult to entitle and replicate across the region.
  • Signalized hard corner at Atlantic Avenue and 60th Street with pylon signage, 9 parking spaces, and ±9,613 SF of land.
  • Pro forma NOI of approximately $90,000 based on estimated market rent of $5.00 PSF NNN — a 6.67% cap rate at the asking price.
  • Active leasing interest from operators in the marketplace; ideal value-add play for an all-cash investor who can close quickly and reposition
  • Underserved North Long Beach trade area with limited food options, one block from 84 new KB townhomes and within delivery reach of Bixby Knolls

OVERVIEW

The Darvishian Group is pleased to present 5991 Atlantic Avenue, a ±1,488 SF free-standing drive-thru restaurant building on a ±9,613 SF corner parcel in North Long Beach. The property has been repriced to $1,350,000, representing an exceptional basis for a drive-thru asset anywhere in Southern California. The building sits on a signalized hard corner at Atlantic Avenue and 60th Street, with pylon signage, 9 on-site parking spaces, and a drive-thru lane already built and operating. New drive-thru approvals have become increasingly difficult to secure across Southern California, making an existing operational lane a difficult asset to replicate at any price point. Ownership has been fielding leasing interest from operators in the marketplace. Based on that activity, estimated market rent is approximately $5.00 PSF NNN, which would produce a projected annual NOI of approximately $90,000 — a 6.67% pro forma cap rate at the asking price. These figures are projections based on current market activity, are not guaranteed, and should be independently verified by buyer. The property presents a value-add opportunity for an all-cash investor able to close quickly and control the repositioning from day one. The site is well suited to a range of quick-service concepts, including a Mexican restaurant, coffee shop, or donut store, and the improvements would benefit from renovation as part of a repositioning. North Long Beach is a trade area with limited food options and meaningful momentum. The property sits one block from a new 84-unit KB Homes townhome development, within walking distance of Jordan High School, and within delivery range of the affluent Bixby Knolls neighborhood to the south. The Uptown Business District corridor along Atlantic Avenue continues to attract new investment and public improvements.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$907 USD /SF

CAP RATE

6.67%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Drive Thru Opportunity

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food, Freestanding, Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,613 SF

ZONING

LBCNA

APN/PARCEL ID

7125-034-016

ASK ABOUT THIS PROPERTY

Jafet PolancoDarvishian Investment GroupMore Info
562-366-3312

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

Jafet PolancoDarvishian Investment GroupMore Info
562-366-3312

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