Language and Region
Currency

Email*

Please enter a valid email address.

To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Message

961 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

3570 Atlantic Ave 11,806 SF Retail Building Long Beach, CA 90807 $13,959,200 CAD ($1,182.38 CAD/SF) 5.66% Cap Rate

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

EXECUTIVE SUMMARY

Located on a dense and busy corridor within the city of Long Beach, the property is within close proximity to many national retail chains. The Long Beach Airport is slightly over one mile from the subject property. Cal Sate University Long Beach is less than five miles away. The average household income is $112,000 within one mile and the dense population within five miles is well over 600,000. The property’s signalized hard corner of Atlantic Avenue and 36th Street boasts an impressive 30,000 vehicles per day. This Walgreens is one of the first few locations with an electrical vehicle charging station installed.
The property has been leased to Walgreens for 75 years from December 27, 2003 to December 31, 2078 at a net annual rent of $566,000. Walgreens has the option to terminate the lease at the end of the 25th year and every five years thereafter. The lease is absolute triple-net in nature offering a true passive long-term investment with a credited tenant for the owner.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

11,806 SF

Building Class

Year Built

2003

Price

$13,959,200 CAD

Price Per SF

$1,182.38 CAD

Cap Rate

5.66%

NOI

$790,091 CAD

Tenancy

Single

Building Height

1 Story

Slab To Slab

12’

Building FAR

0.27

Lot Size

1.02 AC

Zoning

CCA, Long Beach

Parking

47 Spaces (3.98 Spaces per 1,000 SF Leased)

Frontage

264’ on Atlantic

Bus Line
Pylon Sign

Signage

Signalized Intersection

Drive Thru

Retailer
99,999 SF
-
Lorem Ipsum
Jan 0000

Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.