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Listed by Sheva Hosseinzadeh, DRE #01922147 • Coldwell Banker Commercial
$ 3,995,000
Est. payment | /mo
0.4 Acres Lot
$ 3,995,000
Est. payment | /mo
0.4 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26228166
Year Built 1926
Lot Size 0.402 Acres
Source California Regional MLS
Property Description
601 Pine Avenue presents a rare value-add opportunity to acquire a substantial historic commercial property in the heart of Downtown Long Beach at an exceptionally low basis of $3,995,000, or approximately $95 per SF. The property consists of an approximately 42,321 SF freestanding commercial building situated on approximately 17,502 SF of land and was formerly occupied by Rite Aid. The building offers a flexible multi-level layout suitable for retail, storage, showroom, fitness, office, creative, or other commercial uses, subject to applicable approvals, and presents multiple potential strategies for an owner-user, investor, or developer. Rite Aid historically utilized the property as a multi-level retail department store, with retail operations extending throughout multiple levels of the building. More recently, the ground floor was used for active retail sales, while the basement, mezzanine, second floor, and third floor were used primarily for inventory storage and support uses. The approximately 2,236 SF mezzanine is believed not to be included in the stated approximately 42,321 SF building area, and the rooftop may offer additional amenity potential, subject to approvals. The building is currently vacant, allowing a purchaser to occupy all or a portion of the property, l
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Laundry None
Exterior
Parking Features No Parking
Pool None
Building
Story Three or More Stories
Others
Tax ID 7273024018
Special Listing Condition Not Applicable
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