5764-5780 2ND ST Long Beach CA 90803

Download Our Offering Memorandum: https://www.cbredealflow.com/buyer/agreement?pv=uFQRRkqHvtmNMgD9Z6ib8QxUNDKeZOvIBIzzwT3RWNLIoaqnji-OaYVLRrbLXneH

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5764 & 5780 E. 2nd Street is located on Naples Island, between the world-renowned Pacific Coast Highway and the coastal community of Belmont Shore. A new owner could either purchase the subject property to occupy all, or a portion, of the vacant space or implement a reposition plan that would attract higher quality commercial tenants and significantly increase cash flow over the investment period.

The first floor consists of two (2) ground level retail units and one (1) freestanding retail building. One of the ground level retail units is leased to Naples Wine and Spirits on a month-to-month lease and the other ground level retail unit is currently vacant. The freestanding retail building is leased to Valentino's Pizza on a short-term lease that expires August 31, 2027, with no options to extend. The second floor consists of a wine storage business (currently operated by Seller) and a private banquet room (currently occupied by Seller). The third floor consists of two (2) apartments units (one studio unit and one 1-bedroom unit) both on below market MTM leases.

• Seller Financing Available - call broker for details

• Significant Upside Potential - reposition the building, replace the MTM tenants, and attract a higher quality tenant mix

• Owner/User Opportunity - purchase for cash and occupy all, or a portion, of the vacant space

• Huge NOI Growth - upon stabilization of the property, new owner will realize a significant increase in NOI over the life of the investment