421 BroadwayLong Beach, CA 90802

Property Details for 421 Broadway

Year built

2010

Construction

WOOD

Lot size

3.53 AC

Property size (Sq ft)

371,538 SF

Zone code

LBPD

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

7280-024-022

APU

7280024022

Description

This exceptional retail opportunity is located at 421 W. Broadway in Long Beach, California, within the vibrant Gallery 421 mixed-use building. The property offers two available spaces, ranging from approximately 1,506 to 1,567 square feet, totaling approximately 2,837 square feet of ground floor retail space in a Class B building constructed in 2010. The building sits on a substantial 617,114 square foot lot and is zoned LBPD30. The Los Angeles County property (APN 7280-024-022) is part of a five-story building featuring 291 luxury apartment units, ensuring a built-in customer base. Ample on-site parking is provided, with a generous ratio of four spaces per 1,000 square feet of retail area. This prime location in Downtown Long Beach offers unparalleled access to a thriving urban environment, easily accessible by public transit and within a short distance of both Los Angeles and Orange County. The area boasts a walkable, bike-friendly atmosphere with numerous shops, restaurants, and attractions, all within a safe and clean community. The property's location benefits from the temperate climate and stunning ocean views of Southern California. This is an ideal opportunity for businesses seeking high visibility and access to a dense population in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $88,176,744

  6.5%

  $81,393,920

  7%

  $75,580,064

• Comparable approach

  Method

  Valuation

  Relative Method

  $118,513,192

  Geo Method

  $118,513,192

• Alternative Use

  Use

  Valuation

  Residential

  $100,928,456

  Hospitality

  $92,449,928

  Educational

  $76,917,256

  Medical

  $79,562,552

  Retail

  $119,649,064

Location Insight

City

Long Beach

County

Los Angeles

State

California

Latitude

33.7699

Longitude

-118.197

CBSA code

31080

CBSA name

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

Property Tax & Assessments

FAQs

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