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Hotel-Motel

500 Alamitos Ave

500 Alamitos Ave, Long Beach, CA 90802

Listing Price: $2,950,000

Cap Rate
11.17%
Number of Rooms
34
RevPAR
$65
Gross SF
18
Price/Room
$86,765
RRM
3.66
Price/Gross SF
$163,888.89
Year Built
1966

Investment Overview

Marcus and Millichap REIS is pleased to present the sale of 500 Alamitos, Long Beach, CA located at the northwest intersection of E 5th Street and Alamitos Avenue. The property is an approximately 18,136 square foot medical building located on approximately 7,889 square feet of land area. The building is 2-stories with approximately 7,610 square feet for each floor as well as a basement level totaling approximately 3,270 square feet. A portion of the ground level is occupied by Dental Check Up Inc. in Suite # A, totaling approximately 6,530 square feet through April 30, 2025. The remaining leasable area of the building was previously occupied by a regional medical care facility operated by Talbert Medical Group. The Property is a great adaptive re-use opportunity. The Seller recently conducted an investigation with its consultants and the City of Long Beach to convert the building to a 34-room hotel. Buyers are responsible for conducting their own due diligence regarding the potential adaptive re-use opportunities available for this property. The Downtown Long Beach Business District provides unique destinations, both historic and new, that attract over six million visitors annually. One of the city’s most revered attractions, The Queen Mary, arrived in Long Beach in 1967 and has since impressed millions of visitors with its art deco interiors and glimpses into a bygone era. The Aquarium of the Pacific, on the other hand, provides an intimate look into the future of marine biology and sustainability. Hotels, restaurants and other tourist-oriented venues including Shoreline Village, The Pike and Rainbow Harbor Waterfront surround the juggernaut that is the Long Beach Convention and Entertainment Center that brings in a staggering 1.6 million visitors per year with its year-round conventions and events.

Investment Highlights

  • CLOSE PROXIMITY TO LONG BEACH'S DOWNTOWN, CONVENTION CENTER AND WATERFRONT
  • GREAT WALKING AND BIKING ACCESS TO THE BEACH AREAS
  • MYRIAD OF SHOPPING, DINING AND ENTERTAINMENT VENUES WITH THE URBAN ETTING
  • NEARBY ACCESS TO INTERSTATE FREEWAYS AND MASS TRANSPORTATION
  • LOCATED IN THE DOWNTWON PLAN AREA PROMOTING COMMERCE, TRADE, CULTURE AND SOCIAL LIFE
  • OUTSTANDING ADAPTIVE-USE OPPORTUNITY
  • BUILDING SELLING PRICE IS BELOW CURRENT REPLACEMENT COST

Exclusively Listed By

Financing By

Hotel-Motel

500 Alamitos Ave

Listing Price: $2,950,000

Cap Rate
11.17%
Number of Rooms
34
RevPAR
$65
Gross SF
18
Price/Room
$86,765
RRM
3.66
Price/Gross SF
$163,888.89
Year Built
1966

Investment Highlights

  • CLOSE PROXIMITY TO LONG BEACH'S DOWNTOWN, CONVENTION CENTER AND WATERFRONT
  • GREAT WALKING AND BIKING ACCESS TO THE BEACH AREAS
  • MYRIAD OF SHOPPING, DINING AND ENTERTAINMENT VENUES WITH THE URBAN ETTING
  • NEARBY ACCESS TO INTERSTATE FREEWAYS AND MASS TRANSPORTATION
  • LOCATED IN THE DOWNTWON PLAN AREA PROMOTING COMMERCE, TRADE, CULTURE AND SOCIAL LIFE
  • OUTSTANDING ADAPTIVE-USE OPPORTUNITY
  • BUILDING SELLING PRICE IS BELOW CURRENT REPLACEMENT COST

Investment Overview

Marcus and Millichap REIS is pleased to present the sale of 500 Alamitos, Long Beach, CA located at the northwest intersection of E 5th Street and Alamitos Avenue. The property is an approximately 18,136 square foot medical building located on approximately 7,889 square feet of land area. The building is 2-stories with approximately 7,610 square feet for each floor as well as a basement level totaling approximately 3,270 square feet. A portion of the ground level is occupied by Dental Check Up Inc. in Suite # A, totaling approximately 6,530 square feet through April 30, 2025. The remaining leasable area of the building was previously occupied by a regional medical care facility operated by Talbert Medical Group. The Property is a great adaptive re-use opportunity. The Seller recently conducted an investigation with its consultants and the City of Long Beach to convert the building to a 34-room hotel. Buyers are responsible for conducting their own due diligence regarding the potential adaptive re-use opportunities available for this property. The Downtown Long Beach Business District provides unique destinations, both historic and new, that attract over six million visitors annually. One of the city’s most revered attractions, The Queen Mary, arrived in Long Beach in 1967 and has since impressed millions of visitors with its art deco interiors and glimpses into a bygone era. The Aquarium of the Pacific, on the other hand, provides an intimate look into the future of marine biology and sustainability. Hotels, restaurants and other tourist-oriented venues including Shoreline Village, The Pike and Rainbow Harbor Waterfront surround the juggernaut that is the Long Beach Convention and Entertainment Center that brings in a staggering 1.6 million visitors per year with its year-round conventions and events.

Exclusively Listed By

Financing By

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