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600 E BROADWAY Long Beach CA 90802-5124

[Locked] • APN 7281-021-019

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Details
Property Type Retail
Sub Type Grocery Store
Building SqFt 50,188
Lot SqFt 60,123
Acreage ******
Sold Date ******
Sold Price ******
Sold Price/SqFt ******
Zoning Code PD-30
Year Built 2010
Building Count 1
Opportunity Zone No
Lease Rate ******
Mortgage Amount ******
Mortgage Term ******
Interest Rate ******

Property History

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Property Type
Property Type
Retail
Property Subtype
Grocery Store
Asking Details
Asking Cap Rate
******
Marketing Description

Investment Highlights

STRONG CORPORATE GUARANTY - Corporate backed lease with a guaranty from Albertsons Companies, Inc., one of the largest food and drug retailers in the United States with over 2,200 stores in 34 states.

EXCEPTIONAL SALES - This Vons boasts incredible sales volume at $841 PSF and a very low cost of occupancy at 3.6%.

ZERO MANAGEMENT - Long-term absolute NNN lease provides a passive source of income with no management responsibilities and rent increases every 5 years.

NOT ON DIVESTURE LIST - The other Vons location in Long Beach is on the divesture list, and this Vons is not on the list, providing an investor with a strong security of income.

COASTAL SOUTHERN CALIFORNIA - Located only 6 blocks from the beach in the heart of the high-barrier to entry market of downtown Long Beach. Densely populated area with 225,319 people in a three-mile radius and 6 million visitors every year.

FAVORABLE ASSUMABLE DEBT - Below market assumable debt available. Fully amortizing loan at a 4.07% interest rate with 19.5 years of term remaining.

Property Type
Property Type
Retail
Asking Details
Asking Cap Rate
******
Marketing Description
For Sale
Property Type
Property Type
Retail
Property Subtype
Grocery Store
Asking Details
Asking Cap Rate
******
Investment Highlights
  • Highest Quality, Best Of Class Single Tenant Net Lease Grocery Store
  • 20 Year Absolute NNN Lease (Zero Landlord Responsibilities) with Fixed Rent Increases Throughout the Initial Term and Eight (8) - Five (5) Year Options
  • Vons (Albertsons Companies) is Ranked as one of the Top Leading Grocery Store Banners Throughout Southern California 
  • Core Long Beach And Los Angeles County Pride Of Ownership Asset
  • Long Beach is Currently one of the Top Markets of Focus in all of Los Angeles County for Redevelopment and New Development of Residential adding Thousands of New Apartments and Condominiums to the Immediate Area
  • Stable Cash Flow With Significant NOI Growth
  • Lease Guaranteed by National Credit (Albertsons Companies), Top Two Producing Grocery Retailer In The Country
  • Very Strong Real Estate Fundamentals 
  • Strong, Dense Long Beach Demographics and High Barriers to Entry Market
  • Ideal 1031 Exchange Replacement Property Or Portfolio Addition

Loan History

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Financial History

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****** Data
Net Operating Income
******
Reporting Date
******

Tax History

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Contact Information

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Ownership Information

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Property Details

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Contacts

Sold on
 BY:
DH
Dan Hoogesteger PRO
•••.•••.1419
dan@•••••••.com
Brokerage logo
Sold on
 BY:
AM
Alyssa Mera
•••.•••.0809
••••••.mera@••••••••.com
Brokerage logo
Sold on
 BY:
CZ
Caitlin Zirpolo PRO
•••.•••.6873
•••••••.•••polo@••••••••.com
Brokerage logo
Sold on
 BY:
RC
Robert Chana
•••.•••.4636
••••••.•hana@••••••••.com
Brokerage logo

Map

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