3216 Manhattan Ave 3,168 SF 100% Leased Retail Building Hermosa Beach, CA 90254 $5,744,305 CAD ($1,813.23 CAD/SF)

3216 Manhattan Avenue presents the opportunity to acquire a fully occupied mixed-use retail and office property in Hermosa Beach's Manhattan Avenue corridor. The property consists of five suites and is currently 100% occupied with all tenants operating on month-to-month leases, creating flexibility for both investors and owner-users. Current rental income totals $158,340 annually, with an in-place NOI of $100,368.
The asset offers a unique owner-user opportunity through the potential occupancy of the entire second floor, while maintaining income from the first-floor tenants to help offset ownership costs. For investors, the month-to-month tenancy structure provides a clear path to reposition leases to market rental levels and transition from gross leases to NNN lease structures. Financial analysis indicates pro forma NOI potential of $182,592 through lease restructuring and market rent adjustments.
Located within Hermosa Beach's C-1 Neighborhood Commercial district and the California Coastal Zone, the property benefits from a highly constrained coastal market with limited opportunities for new commercial development. The walkable beach-adjacent setting, proximity to the Strand bicycle path, and surrounding affluent residential neighborhoods support long-term tenant demand and property value retention. Capital improvements include a roof replacement in 2014, balcony recoating in 2021, and various window upgrades throughout the building.