495 The PromenadeLong Beach, CA 90802

Property Details for 495 The Promenade

Year built

2022

Construction

WOOD

Lot size

0.29 AC

Property size (Sq ft)

35,429 SF

Zone code

LBPD30

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

7280-005-064

APU

7280005064

Description

This exceptional Class A retail or restaurant space, located at 495 The Promenade North in Long Beach, California, presents a unique investment opportunity. Built in 2022, the entire 5,621 square foot building is currently vacant and available for immediate occupancy. Situated in Los Angeles County, zip code 90802, this single-tenant property offers unparalleled flexibility for a variety of businesses. The modern design and construction ensure a high-quality space ready for immediate customization. Its prime location within Long Beach provides excellent visibility and accessibility, attracting significant foot traffic and potential clientele. The property's size allows for a large-scale operation or the potential for division into smaller units (subject to feasibility studies and approvals). This is an exceptional opportunity to acquire a brand-new, high-quality retail or restaurant space in a thriving Long Beach location. The property is offered for sale and presents a compelling investment prospect for discerning buyers seeking a turnkey solution in a desirable market. Detailed floor plans and specifications are available upon request. This is a rare chance to secure a prominent location in a vibrant and growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $8,408,329

  6.5%

  $7,761,535

  7%

  $7,207,140

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,301,142

  Geo Method

  $11,301,142

• Alternative Use

  Use

  Valuation

  Residential

  $9,624,303

  Hospitality

  $8,815,810

  Educational

  $7,334,650

  Medical

  $7,586,900

  Retail

  $11,409,456

Location Insight

City

Long Beach

County

Los Angeles

State

California

Latitude

33.7726

Longitude

-118.191

CBSA code

31080

CBSA name

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

Property Tax & Assessments

FAQs

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