3511 Cherry Avenue, Long Beach, CA 90807

$3,895,000 Approx. USD 0 beds, 0 baths
22,524 sqft

Agent Remarks

The subject property has been leased to City Loan on a net lease since December 2007. The lease is a true triple net lease as the tenant is also responsible for all expenses on the property including the roof. There are 3 buildings totaling 22,524 square feet of which the most southerly building is a vacant 2,576 SF single story building not occupied, and the 2 story building located at 3431 Cherry Avenue is 6,168 SF directly adjacent to the warehouse and 68 space parking lot is fully occupied by the tenant and its employees There is approximately 10,080 SF in warehouse space with 25' high clearance and additional under room parking garages totaling 3,700 SF. The total land area is 44,447 square feet. The tenant's business is being operated under a difficult to obtain, C.U.P. Conditional Use Permit that runs with the property and makes it likely for a lease renewal. There are no options to renew and the lease expires 12/31/2018. The property is zoned R1 but commercial use is grandfathered in. It is one parcel north of the signalized intersection of Cherry Avenue and East Wardlow Road, directly across from the west entrance to Long Beach Airport. It is also just a few short blocks to the 405 Freeway off/on ramps.

Listing Details

Property type: OFF (Commercial)
Status: Pending
MLS# SB16072964
List price is $3,895,000
Beds: 0
Baths: 0
Built in 1961
22,524 sqft
1.02 acres
Lot size: 44447.000
County: Los Angeles
MLS area: 8 - Signal Hill

Last Updated: 11/19/2016

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This listing belongs to the 8 - Signal Hill MLS area

Lat/Long: 33.820599, -118.167969.
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Broker: Courtesy of RE/MAX Commercial & Inv Realty
Listing Agent: Stephen Lampe

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