For Sale
$6,000,000

5400 Cherry Ave Long Beach, CA 90805

High-yield, NNN Walgreens sublet to Planet Fitness.

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a 13,680 square foot, single-tenant retail property located at 5400 Cherry Ave, Long Beach, CA 90805. The property, built in 2008, is a freestanding building situated on a 1.21-acre lot. Currently, it's under a net lease (NNN) with Walgreens, a credit-rated tenant with a corporate guarantee, sublet to Planet Fitness. The lease expires February 28, 2034, providing a remaining term of 9.3 years. The asking price is $6,000,000, representing a price per square foot of $438.60 and an 8.00% cap rate, generating a net operating income (NOI) of $480,000. This prime location boasts high visibility and traffic, with 48,000 vehicles passing daily. The property benefits from a dense, urban infill setting, surrounded by a population of 65,000 residents within a one-mile radius. This presents a secure, high-yield investment with minimal landlord responsibilities. The property is a one-story building.

Highlights

  • High-density urban location, 65,000 residents within a one-mile radius.
  • High traffic count: 46,000 vehicles daily at the intersection.
  • Triple Net (NNN) lease; no landlord responsibilities.

Property Details for 5400 Cherry Ave

Property type
Retail properties, Drug stores
Square Feet
13,680 SF
Year Built
2008
Stories
1
Lot Size (sq. ft)
52,708 SF

Location Insight

City
Long Beach
County
Los Angeles
State
California
Latitude
33.854836377462
Longitude
-118.16682576469

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FAQs

What type of property is this?
Retail property - High-yield, NNN Walgreens sublet to Planet Fitness.
Where is the retail property located?
The property is located at 5400 Cherry Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: High-density urban location, 65,000 residents within a one-mile radius.; High traffic count: 46,000 vehicles daily at the intersection.; Triple Net (NNN) lease; no landlord responsibilities.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
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Contacts

John Giordani
John Giordani
Visit Broker Website

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Cherry Ave
Long Beach, CA 90805

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Cherry Ave
Long Beach, CA 90805

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

5400 Cherry Ave
  • John Giordani
    John Giordani
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