601 Pine Ave - Drug Store FOR SALE


Long Beach, CA 90802- Downtown Long Beach
$4,010,948 USD
213-434-0044
601 Pine Ave, Long Beach, CA for Sale
$4,010,948 USD
Drug Store - FOR SALE
1/2
null | 5.8% Cap Rate

601 Pine Ave
Long Beach, CA 90802
Downtown Long Beach


HIGHLIGHTS

  • Single-tenant property leased to Rite Aid, providing stable income with a long-term tenant commitment.
  • Rite Aid has maintained occupancy for decades and extended its lease after emerging from bankruptcy, strengthening tenant creditworthiness.
  • Offered as a net-leased investment with limited landlord responsibilities, appealing to passive investors.
  • Located in the heart of Downtown Long Beach, benefiting from a Walk Score of 98, excellent transit access, and strong surrounding amenities.
  • Positioned within a vibrant urban corridor near major retail, dining, and entertainment destinations, enhancing long-term asset value.
  • Proximity to major transportation routes

OVERVIEW

The property offers a dingle tenant leased investment for an investor desirous of an asset with limited landlord responsibilities. Ride Aid has leased the entire property for decades and did not reject the lease during their bankruptcy process and, in fact, extended lease. Now having emerged from bankruptcy, Rite Aid is much stronger from a financial standpoint.

FOR SALE DETAILS

PRICE

$4,010,948 USD

PRICE/SF

$95 USD /SF

CAP RATE

5.8%

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,424 SF

ZONING

LBPD30

APN/PARCEL ID

7273-024-018

ASK ABOUT THIS PROPERTY

Corey WaiteRubiconMore Info
213-434-0044

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Corey WaiteRubiconMore Info
213-434-0044

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