For Sale
$3,960,000

669 Artesia BlvdLong Beach, CA 90805

High-Yield Bank Investment, Long Beach

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple interest (land and building) in a 2,780 square foot, single-tenant Chase Bank property located at 669 E Artesia Blvd, Long Beach, CA 90805. The property boasts a 5.00% cap rate and a strong NOI of $198,000, with a 100% occupancy rate. Built in 2020, this one-story building sits on a 0.49-acre lot and includes 14 parking spaces. The property benefits from a prime location at a signalized intersection with high visibility and convenient access to State Highway 91 (271,000 vehicles per day) and Interstate 710. The absolute NNN lease with JPMorgan Chase Bank (S&P: A+) features a corporate guarantee and includes four 5-year and one 4-year, 11-month options to extend, ensuring long-term income stability. Rental increases of 10% every five years provide inflation protection and growing NOI. The property is part of the Uptown Commons development, surrounded by strong tenant synergy, including Target, Home Depot, and Food 4 Less. The 5-mile trade area boasts a robust population of over 684,000 residents with an average household income exceeding $105,165. This drive-thru equipped bank offers a management-free investment opportunity with significant upside potential. The property's APN is 7115-003-053 and is zoned CCA.

Highlights

  • $3,960,000 asking price for a fee-simple interest (land & building) in a Chase Bank (S&P: A+) retail property.
  • Absolute NNN lease with over 5 years remaining, including options to extend, and 10% rental increases every 5 years.
  • Located on a signalized hard-corner intersection with high traffic counts (45,800 combined VPD), near major highways (State Highway 91 and Interstate 710).
  • Drive-thru equipped.
  • Situated within the recently developed Uptown Commons, alongside other national retailers.
  • Strong demographics in the 5-mile trade area, with high average household incomes ($105,165).

Property Details for 669 Artesia Blvd

Property type
Retail properties, Banks
Square Feet
2,780 SF
Year Built
2020
Buildings
1
Stories
1
Lot Size (sq. ft)
21,344 SF
Units
1

Location Insight

City
Long Beach
County
Los Angeles
State
California
Latitude
33.874821
Longitude
-118.184924
669 Artesia Blvd, Long Beach, California

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669 Artesia Blvd
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