1957 Pacific AveLong Beach, CA 90806

Property Details for 1957 Pacific Ave

Year built

1948

Construction

WOOD

Lot size

0.37 AC

Property size (Sq ft)

11,396 SF

Zone code

LBCNP

Property type

Healthcare properties

Property subtype

Medical offices

APN

7209-023-028

APU

7209023028

Description

This 11,396-square-foot mixed-use building in Long Beach, CA, presents a unique investment opportunity. Located at 1957 Pacific Avenue, this vacant property boasts retail zoning, industrial/warehouse components, and significant cannabis-related approvals. Previously a police station and cannabis dispensary, the building offers versatile potential for various uses, including cultivation, manufacturing, and distribution of non-retail cannabis products. The sale includes grandfathered zoning for these non-retail cannabis uses, with approved applications already in place. The new owner will need to submit plans for any build-out. The property features 800 amps of power, 15 on-site parking spaces, and second-floor office space. Situated on a 0.37-acre lot with alley access, the property benefits from excellent street parking and high traffic volume (17,500 cars per day). The surrounding 3-mile demographic area boasts a population of 255,971 with an average household income of $84,390. The asking price is $4,850,000 ($425.59/sq ft). APN: 7209-023-028. This property is for sale by owner.

• CAP approach

  CAP return

  Valuation

  6%

  $2,807,959

  6.5%

  $2,591,962

  7%

  $2,406,822

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,635,096

  Geo Method

  $3,635,096

• Alternative Use

  Use

  Valuation

  Residential

  $3,214,033

  Hospitality

  $2,944,037

  Educational

  $2,449,404

  Medical

  $2,533,643

  Retail

  $3,810,185

Location Insight

City

Long Beach

County

Los Angeles

State

California

Latitude

33.7929

Longitude

-118.194

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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