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Listed by Austin Longwell • West Shores Realty, Inc.
$ 5,000,000
Est. payment /mo
Active
Long Beach, CA 90806
UPDATED:
Key Details
Property Type Commercial
Sub Type Specialty
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB-26000865
Year Built 1958
Property Sub-Type Specialty
Source California Regional Multiple Listing Service (CRMLS)
Property Description
We are pleased to present this once in a lifetime opportunity to purchase an automated Car Wash portfolio. There are currently two Car Wash locations for sale individually or as a portfolio in Long Beach and Lynwood. Both properties are fully entitled with approved plans and permits to develop an express automated car wash. The properties can be sold as fee simple real estate with business and plans or will be sold as a NNN leaseback generating over a $25,000/month for a passive buyer. General Terms of the NNN Leaseback would be a 20 year Absolute NNN Lease with 10% increases every 5 years and (2) 10 year option periods to extend the lease. There is also an option to purchase this property as a land development opportunity and build 100+ unit multi family project (buyer to verify with city). This Long Beach Car Wash will feature a proposed 4,850 sq ft automated carwash building on a 28,091 sq ft corner lot. There are a proposed 15 vacuum sites, and more parking and office space for employees as well. The strategic location adjacent to the the Metro Blue line stop on a major intersection of PCH & Long Beach provides endless options for investors, owners, and developers alike in an area massively poised for growth.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Interior
Laundry None
Building
Lot Description Level, Lot 20000-39999 Sqft, Near Public Transit, Paved, Corner Lot, 0-1 Unit/Acre