5885 N Paramount Blvd - Warehouse FOR SALE


Long Beach, CA 90805
$2,650,000 USD
949-468-2333
5885 N Paramount Blvd, Long Beach, CA for Sale
$2,650,000 USD
Warehouse - FOR SALE
1/15
null | 8.15% Cap Rate

5885 N Paramount Blvd
Long Beach, CA 90805


HIGHLIGHTS

  • Certificate of Occupancy Issued from City of Long Beach for Cultivation Use
  • Heavy Power- 800 Amp 3 Phase
  • Zoned LBIG- Cannabis Complaint
  • Extensive Capiral Improvements done in 2018 / 19

OVERVIEW

NAI Capital presents a rare opportunity to acquire a 7,200 sq. ft. building on a 18,030 sq. ft. lot, that is situated within the Green Zone of Long Beach. Previously utilized for cultivation use, this asset provides the convenience of a existing built-out facility previously approved and licensed by the City and State for cannabis cultivation. The property was intensively improved in 2018/2019 with improvements including all new heavy power (800 amp 3 phase), DPS insulated walls, 3 flower rooms, 1 vegroom, 1 mother room, drying room, and utility/watering room. Property amenities also include custom rolling trays, custom walk-in vault safe for product storage, ADA bathroom, security camera system, epoxy floors, reception area, and a private office. Additionally, the asset is situated on a large secured gated lot and has ample parking + a covered awning area in the rear of the building. There is also an upstairs mezzanine area that can be used for storage that is not included in the square footage. Property is zoned LBIG (General Industrial) and can also be used for many traditional businesses as well. (See city website for all permitted uses) Potential CAP Rate of 8.15% at list price with lease up. Call Broker for details.

FOR SALE DETAILS

PRICE

$2,650,000 USD

PRICE/SF

$368 USD /SF

CAP RATE

8.15%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

ADD'L SUBTYPES

Manufacturing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1957

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

3

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.41

LAND SF

18,029

ZONING

LBIG

APN/PARCEL ID

7119-019-013

ASK ABOUT THIS PROPERTY

Steve GimNAI CapitalMore Info
949-468-2333

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Steve GimNAI CapitalMore Info
949-468-2333

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