Condominium buy in Long Beach California

Vinco Vinco Realty Group is pleased to present the opportunity to acquire the fee simple sale of a fully leased 7,212 square foot center in Retro Row, located in Long Beach, CA. The subject property consists of five (5) inline shopfront spaces with a diverse mix of well-established tenants. The center offers a great synergy between tenants in various industries such as medical, traditional shopping retail, and a restaurant. At this time seller is willing to carry a portion of purchase price. The center operates on a Triple Net lease structure as tenants pay property taxes, insurance, and CAM charges. Tenants stand to benefit from 29 parking stalls in a parking impacted area of Long Beach. The property's 4.0/1,000/SF parking ratio allows tenants sufficient parking accommodations for guests, customers, and staff. The current occupancy is dedicated to 27% service-oriented and 73% product-oriented tenants. Three (3) tenants have recently executed a three (3) to five (5)-year lease with multiple options to extend, proving the resilience of the Long Beach retail market. This stable investment opportunity will continue to yield future upside through rental increases and tenant demand in the highly sought-out Retro Row. Located in one of the most unique pockets of Long Beach, known as 'Retro Row', the corridor boasts nearly 100 independently owned and operated stores that you simply won't find anywhere else. The center sits at a signalized intersection (4th Street & Temple Avenue) , a main entry point to the Retro Row corridor. This submarket offers close proximity to the East Village Arts District, Downtown Long Beach and Belmont Shores. MLS® ID: DW22161867 Listed: 7/21/22 Updated: 10/14/22 Interior Features Total Bedrooms: 0 Total Bathrooms: 0 Laundry Description: None Exterior/Building Features Lot Size: 0.42 acres lot Lot Details: Walkstreet Other Property Details Area Name: 2 - Belmont Heights, Alamitos Heights Garage: No Parking: N View: N County: Los Angeles Utilities: Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available Water Source: Public Pool: No Courtesy of Vinco Vinco Realty Group, Pedro Velasco, Listing Contact: Based on information from California Regional Multiple Listing Service, Inc. as of 10/14/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.