Lease to Own
Address
1941 Atlantic Avenue Long Beach, CA
Price
$ 589,900
Property Attributes
  • MLS#AR21016872
  • TypeCommercial
  • CountyLOS ANGELES
  • CityLong Beach
  • AreaPoly High
  • Zip90806
  • StyleRetail
  • Price$ 589,900
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size2,614 SqFt
Listing Provided Courtesy Of:
Jerry Sun with RE/MAX Premier Properties.
Data Source:
CRMLS
Property Description

Snap up this superb investment opportunity. This single retail free-standing building is situated in the extremely convenient North Poly neighborhood of Long Beach. The current leasing tenant, El Ranchito Market has become the local community market for over 10 years. Annual rental increase 3%. With 5 years lease option. The current CAP is approx. 6.39% with no rent stabilization ordinance. Take pleasure in being conveniently positioned close to businesses, retailers, California State University Long Beach, and Long Beach Airport. Just a few miles away from City Beach, Seal Beach, Marina Pacifica, Aquarium of the Pacific, the Queen Mary, Shoreline Aquatic Park, several notable venues and popular landmarks, all within close reach. Blocks away from the Pacific Coast Highway thoroughfare, close to public transportation, offers high traffic visibility with endless potential. This corner lot building is LBPD25 zoning. It currently operates as a deli meat supermarket with no alcoholic beverages or lottery licenses. As per the PD-25 Zoning Planned Development Ordinance. It can also be used for a wide variety of businesses, including office support, personal services, professional services, retail sales, ready-to-eat food service, making this a value-added opportunity for a small business owner or to generate upside rental income. There is also the option to use it as a facility for cannabis cultivation and dispensing. This would require a conditional use permit.

Price History
1/27/2021 Listed $589,900

General Features

MLS Area 9 - Poly High
Property SubType Retail
Property Type Commercial Sale
Virtual Tour https://sgvhouseinfo.com/listing/1941-atlantic-ave/
Virtual Tour http://1941atlantic.com

Interior Features

Laundry Features None

Exterior Features

Lot Features Corner Lot
Lot Size Acres 0.06
Lot Size Area 2672
Lot Size Source Assessor
Lot Size Square Feet 2672
Lot Size Units Square Feet
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90806

Price
AVG $250K
$590K
Visits
AVG 111
12
Year Built
AVG 1947
1953
Walkscore
AVG 82
86
Data Provided by Walkscore ® not using MLS data

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