Long Beach, CA - Shops at the Shore

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leasehold interest (building ownership) in The Shops at the Shore, a streetfront, mixed-use investment property located in the historic Belmont Shore of Long Beach, CA (Los Angeles MSA). The asset is currently 100% occupied and totals 10,536 square feet, made up of 6,242 square feet of ground floor retail, and 4,294 of second floor office space. The diverse tenant lineup is comprised of service, restaurant, law, financial, and wellness tenants, providing a stable income stream for a new owner. The ground-floor retail is anchored by the United States Postal Service, a U.S. government–backed tenant whose top-tier investment-grade credit (S&P: AA+) offers long-term stability for future investors. This offering presents an extremely rare opportunity to acquire a generational-grade asset within a wealthy coastal neighborhood of LA County, within a dense, infill trade area with extremely high barriers to entry.

The subject property has an unmatched location within the heart of the historic Belmont Shore Shopping District at the signalized, hard corner intersection of 2nd street and Granada Avenue, serving more than 40,800 vehicles per day. The Shops at the Shore is positioned within a thriving Long Beach coastal market consisting of high disposable incomes, dense population counts, and favorable trade area co-tenancy. Belmont shore is home to several national/credit tenants who have become staples within the community, including Chase Bank, Ace Hardware, Starbucks, Bank of America, along with dozens of premier restaurants and boutique retailers, creating
an everlasting stream of direct consumer exposure. Located just minutes east of downtown Long Beach, Belmont Shore and the adjacent neighborhood of Naples have grown steadily over the years to become one of the region’s most popular day and nighttime family destinations. Just blocks from the beach, the site also boasts an extremely high walk score of 97 (walkers paradise), strengthening the tourist draw and as well as surrounding college students and family residential population alike. Belmont Shore is positioned just 2.5 miles south of California State University Long Beach with more than 42,000 students currently enrolled, providing a direct consumer base from which to draw. Residents within a 1-mile radius boast extremely affluent average household incomes of more than $156,000.

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Listing ID: a28TP000001vwzZYAQ