2931 Redondo AveLong Beach, CA 90806

Property Details for 2931 Redondo Ave

Year built

1982

Construction

TILT-UP CONCRETE

Lot size

0.69 AC

Property size (Sq ft)

20,902 SF

Zone code

LBIG

Property type

Office buildings

APN

7149-011-004

APU

7149011004

Description

This exceptional 21,384-square-foot office/flex building, located at 2931 Redondo Ave in Long Beach, CA 90806, presents a compelling investment opportunity. Situated on a 29,185-square-foot lot within the LBIG Globemaster Corridor, this two-story, Class B building boasts a desirable location with immediate access to the Long Beach Airport and the 405 Freeway. Built in 1982 and renovated in 2017, the property features a beautiful atrium and a versatile layout including private offices, conference rooms, bullpen space, and ample storage. The building offers 54 parking spaces and two loading docks, catering to diverse business needs. Currently vacant, this owner-user investment provides an excellent opportunity to establish a presence in a thriving market. The property's prime location offers proximity to a variety of amenities, including restaurants and retail establishments, and is surrounded by corporate neighbors such as the City of Long Beach, Office Depot, Scan Health, and prominent aerospace companies. The building also benefits from top building signage, enhancing visibility and brand recognition. This versatile space is suitable for executive office, medical office, or flex uses, making it an ideal choice for a wide range of businesses. The asking price is $6,500,000. Occupancy is available August 31, 2023. The property consists of one building with two units.

• CAP approach

  CAP return

  Valuation

  6%

  $5,150,225

  6.5%

  $4,754,054

  7%

  $4,414,478

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,667,320

  Geo Method

  $6,667,320

• Alternative Use

  Use

  Valuation

  Residential

  $5,895,027

  Hospitality

  $5,399,813

  Educational

  $4,492,581

  Medical

  $4,647,088

  Retail

  $6,988,459

Location Insight

City

Long Beach

County

Los Angeles

State

California

Latitude

33.8087

Longitude

-118.152

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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