The Corner of 2nd & Granada
Retail | Only $320/SF | 13,250 SqFt
Marketing description
This offering represents the fee simple interest in a trophy mixed-use property along iconic 2nd Street in Belmont Shore, one of Long Beach’s most vibrant and sought-after coastal retail corridors.
The property is secured by an absolute NNN master lease providing passive, predictable income backed by a personal guaranty from a strong operator. The base term runs through 2042, with three (3) five-year options, ensuring long-term stability and significant reversionary upside.
Surrounded by national and regional retailers, boutique shops, and restaurants, the asset benefits from exceptional walkability, year-round pedestrian traffic, and affluent neighborhood demographics.
This is a rare opportunity to acquire a Belmont Shore property for only ±$320 per square foot—well below a recent $1,000+/SF sale of a comparable two-story building on 2nd Street.
Combining irreplaceable location, passive NNN income, and below-market pricing, this asset stands out as one of the most compelling long-term investment opportunities in coastal Southern California.
Investment highlights
Prime Belmont Shore Location – Located along iconic 2nd Street, one of Southern California’s most desirable and supply-constrained coastal retail corridors; a generational mixed-use property.
Absolute NNN Master Lease – 100% passive ownership; lessee is responsible for all taxes, insurance, and maintenance.
Long-Term Stability – 17-year remaining term (through 2042) with three 5-year renewal options.
Contractual Rent Growth – 2% annual increases during the base term, then greater of CPI or fixed rent increases at each option period.
Attractive Long-Term Yield – Average Base Term Cap Rate of ±4.4% with minimum escalations to 6.19%, 7.17% and 8.32% in respective option periods.
Below-Market Rent Position – Current rent is significantly below market, offering strong reversionary IRR upside upon lease expiration.
Diversified Subtenant Mix – Includes USPS, Sushi Nikkei, Poke Pola, and professional office tenants—offering built-in occupancy stability.
Attractive Price per Foot – Rare opportunity to acquire a Belmont Shore asset at ±$320/SF—well below a recent $1,000+/SF trade for a similar building on 2nd Street.
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