2500 Artesia BlvdRedondo Beach, CA 90278

Property Details for 2500 Artesia Blvd

Year built

1948

Construction

WOOD

Lot size

0.22 AC

Property size (Sq ft)

3,218 SF

Zone code

RBC-2-PD

Property type

Retail properties

Property subtype

Retail space

APN

4157-001-023

APU

4157001023

Description

This exceptional Redondo Beach retail property presents a compelling value-add redevelopment opportunity. Located at 2500 Artesia Blvd, 90278, this 3,218 square foot building sits on a 9,758 square foot corner lot in Los Angeles County, zoned RBC-2-PD. Built in 1948, the single-story structure offers 15 parking spaces and is currently vacant, allowing for immediate occupancy. The asking price is $2,799,999, translating to $870.11 per square foot and $307.44 per square foot for the land. The property features a gross lease type with no tenant credit and a 50% occupancy rate as of May 1, 2023. The building has two units and is suitable for various uses, including a bar, convenience store, or restaurant. Its prime location ensures high visibility and significant daytime traffic. The property's potential for redevelopment and its possible suitability for licensed cannabis retail adds further investment appeal. The APN is 4157-001-023. This is a rare opportunity to acquire a well-positioned retail space in a thriving coastal community. The property can be delivered vacant at the close of escrow.

Location Insight

City

Redondo Beach

County

Los Angeles

State

California

Latitude

33.8725

Longitude

-118.366

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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