New Listing – Large Retail Building in the Heart of Long Beach
Brett Lyon and Woody Stahl of Lyon | Stahl are pleased to present 2191 N Lakewood Blvd, a large retail space in Long Beach!
7% Cap Rate – Offered at $6,000,000
This building is located at the signalized intersection of N Lakewood Blvd and E Stearns St on a 37,900 sq ft lot, with 39 free surface parking spaces. The property has fantastic in-place income from its two tenants, and currently has a 10-year NNN lease with the Fortune 500 company Dollar Tree. The other tenant, JAD Enterprises – a Cannabis Dispensary, is on a modified gross lease and pays 100% of its utilities. In total, these retail spaces generate annual gross rents of $458,320. At a 7% CAP rate, this is an incredible investment opportunity for anyone looking to maximize cash flow and acquire property in the beautiful city of Long Beach!
● Corner Lot Retail Space at Signalized Intersection | High Traffic Volume – Over 32,000 Daily
● Includes 39 Free Surface Parking Spaces | Total Rentable Building Size of 17,810
● Dollar Tree NNN Tenant With 10-Year Lease Term
● JAD Enterprises (Cannabis Cultivation) | Modified gross paying 100% utilities
● JAD is Approved for Licensing and Permitting | Set to Open Q1 of 2019
● Strong Cash Flow – 7% CAP Rate
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