Investment Offering
Long Beach, CA - Chick-fil-A
3290 Atlantic Ave | Long Beach, CA 90807
$3,715,000
Price4%
Cap Rate$148,500
NOI2019
Year Built100%
Occupancy2,598
± SF Offering GLA0.83
± AC Land AreaDescription
SRS National Net Lease is pleased to offer the opportunity to acquire a leased fee (land ownership) absolute NNN leased, Chick-fil-A investment property located in Long Beach, California. The tenant, Chick-fil-A, Inc has 13 years remaining on their lease with 7 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.
Location
The Chick-fil-A is located along the heavily trafficked, signalized intersection of Atlantic Avenue and East 33rd Street, with a combined traffic count of approximately 33,500 vehicles per day. Atlantic Avenue serves as one of the primary north-south retail arteries through Long Beach, providing direct access to Interstate 405 (300,000 VPD). The property is an outparcel to a Target-anchored shopping center that also features national and credit tenants such as Ross Dress for Less, Petco, Best Buy, and The Home Depot. In addition, the site is surrounded by numerous major retailers including Costco, ALDI, Marshalls, Vons, and Walgreens, further driving consistent consumer traffic to the corridor. The asset benefits from its strategic infill location within the Bixby Knolls submarket, one of Long Beach’s most established and desirable neighborhoods. The 5-mile trade area boasts a population exceeding 588,000 residents with an average household income of approximately $115,000, supporting strong year-round retail demand.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215