727 - 737 Pine Avenue
Bungalow Building | Value-Add Retail Investment Opportunity
Marketing description
The Bungalow Building is a rare value-add retail investment located along the premier Pine Avenue corridor in Downtown Long Beach. The property consists of a 13,600 SF multi-tenant retail building situated on a 15,817 SF PD-30 zoned lot, offering investors immediate cash flow upside through lease-up and long-term redevelopment potential. It is currently offered at $257/SF with a projected 7.20% stabilized cap rate.
Investment highlights
Immediate Lease Up Opportunity: 2 vacant retail suites are move-in ready, providing immediate leasing potential without tenant relocation or downtime
Below Market Rent: Existing rents are substantially below market levels, allowing new owner to capture significant rental growth through new leasing
Turnkey Repositioning Opportunity: Month-to-month tenancy provides flexibility to curate an optimal tenant mix and establish a long-term NNN retail
Pro forma rental rates are positioned at the lower end of comparable Pine Avenue lease transactions, supporting an achievable leasing strategy
Located in Downtown Long Beach's $10B+ redevelopment corridor, benefiting from thousands of new residential units & 2028 Olympic-related investment
106' of highly visible frontage along Downtown Long Beach's primary retail corridor, offering exceptional exposure and pedestrian traffic
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