1345-1347 Redondo Ave - NNN Leased Investment - 3PL Tenant
Single-Tenant NNN | 6.9% CAP | 3-Yr Lease
Marketing description
1345-1347 Redondo Avenue is a stabilized, singletenant NNN leased investment featuring a +/-6,673 SF freestanding retail/flex building on a +/-12,502 SF lot along one of Long Beach's primary commercial corridors. The property is 100% leased to a third-party logistics (3PL) operator on a 3-year NNN lease at $20,000 per month ($240,000 annually), generating an approximate 6.9% cap rate at the asking price.
The property benefits from approximately 30,000 vehicles per day, strong street frontage, and a fully secured fenced yard - features that make it especially well-suited for the in-place logistics use and that command a rent premium versus typical retail or flex offerings in the submarket.
Strategically zoned LBCNR (Neighborhood Commercial Retail), the asset accommodates a wide range of future uses including retail, office, medical, service commercial, and potential cannabis operations (subject to city approvals), providing meaningful longterm flexibility and downside protection at lease expiration.
This offering is ideally positioned for a passive investor seeking stabilized in-place income with a creditsupported NNN structure, in a high-traffic infill Long Beach location with limited supply of comparable freestanding assets.
Investment highlights
- Freestanding Flex Asset with Secured Yard - Rare single-tenant ±6,673 SF freestanding building with gated yard—ideal for operational users requiring storage, parking, or logistics functionality.
- Flexible LBCNR Zoning (Wide Use Case) - Zoning allows for retail, office, medical, service commercial, and potential cannabis use (buyer to verify), making it highly adaptable to multiple business types.
- Stabilized NNN Income (3PL Tenant) - Leased to a third-party logistics operator on a 3-year NNN lease at $20,000/mo ($240,000 annually) - generating approximately 8.0% cap rate at the asking price with minimal landlord operating responsibility
- Strong Rental Upside Potential - Market rents in the submarket range from $2.09–$2.55/SF NNN, with upside potential depending on tenant type and improvements.
- Top-of-Market Rent Achieved In-place rent of approximately $3.00/SF/month NNN sits at the top of the submarket comp range ($2.09 - $2.55/SF), validating the property's premium fencedyard / flex configuration.
- Cannabis Use Upside (Strategic Premium) - Located in an approved medical marijuana zone, offering potential for higher rental income and premium valuation if successfully entitled.
- Repositioning & Adaptive Reuse Potential - Open floor plan with high ceilings supports creative office, showroom, restaurant, automotive, or specialty use conversion.
- Logistics-Optimized Asset (Fenced Yard) - The secured fenced yard, on-site parking, and freestanding configuration are mission-critical to the in-place 3PL tenant - reinforcing tenant retention and renewal probability beyond the initial 3-year term.
- On-Site Parking - 12 surface spaces supporting business operations and customers.
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