Lender-Approved Sale · Price Reduced
The Bungalow Building
737–743 Pine Avenue · Downtown Long Beach, CA 90813 · 4-unit retail · 13,600 SF
Four units, 106 feet of frontage on Downtown Long Beach's signature retail corridor — all on month-to-month leases at roughly a quarter of market rent. The income gap is the entire opportunity, and a buyer can capture it from day one with no lease obstacles.
| In-place vs. stabilized | |
| As-is income (in place) | $56,400 |
| Stabilized NOI · size-matched rents | $251,514 |
| Stabilized cap rate | 7.2% |
| NNN upside NOI · full re-lease | $333,912 |
| NNN upside cap rate | 9.55% |
Every dollar of that lift is accessible at closing because every tenant is month-to-month. No lease-break penalties, no waiting, no negotiation required.
Set the rent, choose the lease structure, flex the price, and layer in financing. NOI, cap rate and leveraged returns recompute live. Defaults reproduce the offering memorandum's stabilized pro forma at the reduced price.
Green = cap rate at or above 7.0%. Outlined cell = your current rent at the list price. Cap rates use the selected lease structure. Rent, vacancy and financing are adjustable; the list price is fixed.
Recent executed retail leases in Downtown Long Beach with disclosed rents — what tenants actually signed. These underwrite the rent assumptions in the model above. Click any address for full detail and a Google Maps link.
Retail available for lease right now in Downtown Long Beach — the asking side of the ledger, pulled live from CoStar. Together with the signed deals above, this is the full leasing picture: comparable small-shop space asks $27–$42/SF NNN, larger boxes $15–$27. The subject's $27–$28 pro forma sits at the low end of the small-shop ask — credibly leasable, with room to compete. Click any address for the listing broker and a Google Maps link.
Recent Long Beach retail trades. At the reduced price the subject prices under the building-SF range of nearly every comparable — and the PD-30 land basis sets a hard floor independent of income.
Retail currently listed for sale in Downtown Long Beach — the live inventory a buyer weighs the subject against. Comparable multi-tenant assets are asking $390–$445/SF at 5.7–6.3% caps. At $257/SF and a 7.2% stabilized cap, 737–743 Pine is priced below the field and yields above where comps trade.
Demised into ~2,700 SF suites, every unit lands in the format Downtown Long Beach is actively absorbing. The signed-lease evidence on this corridor points to a clear merchandising play — and to the tenant profile that drives both rent and exit value.
Downtown Long Beach is adding the largest housing expansion in decades, two transit stops away from the waterfront, with hospitality and Olympic tailwinds converging on the trade area.
Long Beach is required to plan for 26,502 new homes by the end of the decade. These named projects — thousands of units in and around Downtown, within reach of Pine Avenue — are the built-in customer base for the subject's storefronts.
Repositioning-ready and priced to move. Reach out for the full financial package, rent roll detail, and a tour.