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2600 Atlantic Avenue
Long Beach, CA 90806

Price: $5,830,000 CAP Rate: 5.00%
Bldg SF: 11,000 SF Price/SF: $530
Land SF: 34,715 SF Tenant: Goodwill
Year Built: 2000 Lease Type: NN
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233


Ben Brownstein
(818) 212-2812
ben.brownstein@marcusmillichap.com
License # 02012808

Price: $5,830,000
Bldg SF: 11,000 SF
Land SF: 34,715 SF
Year Built: 2000
Price/SF: $530
Tenant:  Goodwill
Lease Type: NN
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233


Ben Brownstein
(818) 212-2812
ben.brownstein@marcusmillichap.com
License # 02012808

Investment Highlights

Prime Long Beach Signalized Corner Covered Land Opportunity Just 0.3 of a Mile from Long Beach Memorial Hospital

 

  • Currently home to Goodwill, a substantial American non-profit corporation with over $6.1 billion in revenue through 2031, with minimal landlord responsibilities
  • 0.3 of a mile from Long Beach Memorial Hospital
  • Ideally located on the Northeast signalized corner of Atlantic Avenue and East Willow Street
  • 34,715 square feet of land zoned SHCG
  • Traffic counts north of 32,900 vehicles per day
  • Features 31 parking spaces, a parking ratio of 2.82 per 1,000 square feet

 

Corporate Guaranteed Lease with Goodwill Through December, 2031

 

  • NN Corporate guaranteed lease with minimal landlord responsibilities (roof and structure only)
    Goodwill has successfully operated at this location since 2020
  • Goodwill operates as independent organizations in 17 countries with 156 Goodwill locations in the United States and Canada
  • In 2018,Goodwill organizations generated $6.1 billion in revenue
  • In 2019, Goodwill served more than 25 million people worldwide and helped train over 230,000 people for their careers in various industries
    The property features a Verizon Cell Tower which creates an additional income stream

 

High Growth Sub-Market with Significant New Development

 

  • Located near to Broadway Block, a $215 million mixed use development project which will feature 432 residential uses
  • In the vicinity of Union South Bay, a mixed-use development featuring 357 new residential units
  • Close to Shoreline Gateway, a 35-story building set to feature 315 residential units
  • Surrounding area littered with national tenants such as Subway, Starbucks, CVS Pharmacy, El Pollo Loco, Burger King, and Wells Fargo

 

Dense Immediate Population with Strong and Affluent Underlying Demographics

 

  • Average household income within one mile of the property exceeds $70,400, $75,900 within three miles, and $87,700 within five miles of the property
  • There are over 35,700 people located within one mile of the property, 294,000 within three miles of the property, and 553,500 within five miles of the property
  • There are over 10,200 households located within one mile of the property, 102,800 within three miles of the property, and 190,400 within five miles of the property