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$ 949,000
Est. payment | /mo
1,799 Sqft Lot
$ 949,000
Est. payment | /mo
1,799 Sqft Lot
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC25188140
HOA Y/N No
Year Built 1923
Annual Tax Amount $10,200
Tax Year 2025
Lot Size 1,799 Sqft
Lot Dimensions Assessor
Property Sub-Type Retail
Property Description
Offered at $949,000, this is a rare opportunity for an owner-user or investor to own prime commercial real estate in Long Beach. The property features a newly built-out restaurant with nearly $200,000 invested in improvements, fully permitted and ready to operate—making your effective real estate cost significantly lower. In addition, a long-established nail salon provides steady rental income for added security.
Situated at the high-visibility corner of Redondo Avenue and 7th Street, one of Long Beach's busiest intersections, the property offers 1,800 rentable square feet with strong foot traffic and walkable access. Located just one mile north of Cal State Long Beach, the area is home to over 57,000 residents within a one-mile radius, boasting an average household income near $100,000 and home values above $950,000.
Financial highlights include a pro forma cap rate of 5.8%, with potential to reach approximately 6.18% when factoring in the restaurant build-out value ($150,000). At this adjusted basis, your true real estate cost is closer to $800,000.
This is a unique chance to own and operate your business while building equity through real estate ownership in a thriving market. Opportunities like this don't last long—schedule your showing today.
Situated at the high-visibility corner of Redondo Avenue and 7th Street, one of Long Beach's busiest intersections, the property offers 1,800 rentable square feet with strong foot traffic and walkable access. Located just one mile north of Cal State Long Beach, the area is home to over 57,000 residents within a one-mile radius, boasting an average household income near $100,000 and home values above $950,000.
Financial highlights include a pro forma cap rate of 5.8%, with potential to reach approximately 6.18% when factoring in the restaurant build-out value ($150,000). At this adjusted basis, your true real estate cost is closer to $800,000.
This is a unique chance to own and operate your business while building equity through real estate ownership in a thriving market. Opportunities like this don't last long—schedule your showing today.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Fireplace No
Laundry None
Exterior
Fence None
Utilities Available Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected
Present Use Commercial
Building
Lot Description Zero Lot Line
Story 1
Water Public
Others
Tax ID 7258026001
Acceptable Financing Cash, Conventional, Submit
Listing Terms Cash, Conventional, Submit
Special Listing Condition Standard
Listed by Long Nguyen Advance Estate Realty 714-933-5686