Snap up this superb investment opportunity. This single retail free-standing building is situated in the extremely convenient North Poly neighborhood of Long Beach. The current leasing tenant, El Ranchito Market has become the local community market for over 10 years. Annual rental increase 3%. With 5 years lease option. The current CAP is approx. 6.39% with no rent stabilization ordinance. Take pleasure in being conveniently positioned close to businesses, retailers, California State University Long Beach, and Long Beach Airport. Just a few miles away from City Beach, Seal Beach, Marina Pacifica, Aquarium of the Pacific, the Queen Mary, Shoreline Aquatic Park, several notable venues and popular landmarks, all within close reach. Blocks away from the Pacific Coast Highway thoroughfare, close to public transportation, offers high traffic visibility with endless potential. This corner lot building is LBPD25 zoning. It currently operates as a deli meat supermarket with no alcoholic beverages or lottery licenses. As per the PD-25 Zoning Planned Development Ordinance. It can also be used for a wide variety of businesses, including office support, personal services, professional services, retail sales, ready-to-eat food service, making this a value-added opportunity for a small business owner or to generate upside rental income. There is also the option to use it as a facility for cannabis cultivation and dispensing. This would require a conditional use permit.
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