1957 Pacific Ave - Storefront FOR SALE


Long Beach, CA 90806
$4,850,000 USD
949-682-5867
1957 Pacific Ave, Long Beach, CA for Sale
$4,850,000 USD
Storefront - FOR SALE
1/32
null | Request Cap Rate

1957 Pacific Ave
Long Beach, CA 90806


HIGHLIGHTS

  • Great visibility on major corridor
  • Lots of use options: retail and industrial
  • Partially built-out for a retail storefront business
  • Beautifully maintained tree-lined street

OVERVIEW

Acquire this unique building and get creative. The property will be delivered vacant and is technically zoned retail; however, it also includes industrial/warehouse components. As a former police station and cannabis dispensary the property can accommodate a wide variety of uses, and its purchase includes approvals for non-retail cannabis uses(see below). Developers welcome! Pacific Ave is a vibrant corridor begging for vertical development. While the site isn’t incredibly large at 0.37 acres, the 16,291 SF lot has alley access and can be assembled with adjacent lots over time. Property Highlights: - Delivered Vacant - 800 Amps Power - Retail Zoning - 17,500 Cars Per Day - Excellent Street Parking - 15 On-Site Parking Spaces - 2nd Floor Office Space - 3-Mile Demographics: - Population 255,971 - Avg Household Income $84,390 Cannabis Potential: Included in the sale of the building are the existing approvals for non-retail cannabis uses: cultivation, manufacturing, and distribution. The new owner will need to submit plans for build-out, and the property is grand-fathered in for non-retail cannabis uses. Alternatively, a cannabis retailer seeking a better location may also move their dispensary to this location and take advantage of the existing dispensary build-out which exists in ~5,000 SF Cannabis Highlights: - Grandfathered zoning for non-retail cannabis uses - Applications approved for cultivation, manufacturing, and distribution - Move your Long Beach dispensary here - Quality build-out - Local Cannabis Taxes: - Manufacturing and Distro: 1% - Cultivation: $12/SF annually - Retail: 7% Adult-Use | 6% Medical

FOR SALE DETAILS

PRICE

$4,850,000 USD

PRICE/SF

$426 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Bank, Distribution, Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1952

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,038 SF

ZONING

CNP, Long Beach

APN/PARCEL ID

7209-023-028

ASK ABOUT THIS PROPERTY

Jason PiazzaWeCannMore Info
949-682-5867

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Jason PiazzaWeCannMore Info
949-682-5867

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