1300 seabright avenue€¦ · snapchat and mattel. a growing population base and public healthcare...

1300 SEABRIGHT AVENUELONG BEACH, CA 90813

OFFERING MEMORANDUM

T A B L E O F C O N T E N T S

1. OFFERING SUMMARY

2. MARKET OVERIEW

4

OFFERING

SUMMARY 01

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTSMarcus & Millichap is pleased to present 1300

Seabright Avenue in the city of Long Beach,

California. This sale offers the opportunity to

purchase a 7,353 square foot warehouse in an MM

approved location of Long Beach.

The subject property is comprised of a single

parcel that totals 12,057 square feet of land. The

warehouse measures 7,353 square feet and was

built in 1993. The building is of concrete tilt-up

construction and has a clear height of 18'. There

is a small office buildout that is approximately

1,000 square feet. There are two ground level roll

up doors giving access to either side of the

warehouse. Utilities to the site include water,

sewer and electric. Electrical service is 400A,

480V, 3Ph.

Zoning on the site is LBIG, which is a heavy

industrial zoning designation that permits for many

uses including both industrial and

cannabis/marijuana uses. The property is flat and

rectangular. Dimensions are 90' X 134.5'. There

are 15 parking stalls which will allow for a 2/1,000

parking requirement. Located on Seabright

Avenue, south of Pacific Coast Highway, the

subject property is convenient to the 710 and 103

freeways, Pacific Coast Highway, Anaheim Street

and the ports of Los Angeles and Long Beach.

Architectural plans have been completed for the

existing property and for proposed use as a

cultivation site. They are included in this marketing

package. High resolution copies are available to

interested parties.

PROPERTY OVERVIEW

▪ 7,353 Square Foot Warehouse

▪ Concrete Tilt-Up Construction

▪ 18’ Clear Height

▪ Heavy Power – 400A, 480V, 3Ph

▪ LBIG Zoning – Heavy Industrial

▪ 15 Parking Stalls

▪ MM Approved Location

1300 Seabright Avenue offers the opportunity to

purchase a secure, newer construction, concrete

tilt-up warehouse with heavy power that is located

in an MM approved location of Long Beach. The

existing building is functional and in turn key

condition. Located in the heart of the port, this

property has attributes that will be attractive to

owner/users and investors alike, and is well

positioned to benefit from being located next to an

international hub of commerce.

Priced at $2,867,670.

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PROPERTY DETAIL

Price $2,867,670

Square Feet 7,353

Price Per SF $390.00

Lot Size 12,057 SF (0.276 Acres)

Year Built 1993

Lot Dimensions 90’ X 134.5’

Clear Height 18’

Utilities Water, Sewer, Electric

Electrical Service 400A, 480V, 3Ph

Paving Concrete

APN 7432-003-033

AT A GLANCE

PROPERTY PHOTO

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PROPERTY PHOTOS

MARKET

OVERVIEW 02

MARKET OVERVIEW

OVERVIEW

SOUTH BAY-LONG BEACH

PORT ACTIVITY

The ports of Los Angles and Long Beach are the two busiest ports in the nation, underpinning employment in the trade, transportation and utilities sector.

EDUCATED LABOR POOL

High educational attainment supports hiring in the business services and healthcare sectors. Roughly 23 percent of residents age 25 and older hold a bachelor’s degree.

STRATEGIC LOCATION

Los Angeles International Airport and two port facilities provide an ideal location for e-commerce and logistics companies.

The South Bay-Long Beach area of southwestern Los Angeles County

contains 21 miles of coastline between Long Beach and El Segundo and

includes Los Angeles International Airport, the Port of Los Angeles and

the Port of Long Beach. The region boasts a population of approximately

1.3 million and is projected to add roughly 18,000 residents through

2021. High home values allow just half of households to afford to own

their home, generating a large rental market.

▪ The area’s economy historically relied on the aerospace industry and defense-related technologies, including

companies such as Boeing, Honeywell Aerospace and Raytheon.

▪ Widespread diversification in recent years has produced a large contingent of professional and business

services firms and corporate headquarters. Significant operations are held by American Honda Motor Co., BP,

Snapchat and Mattel.

▪ A growing population base and public healthcare have supported growth in the education and healthcare

sector thanks to both public and private employers.

37.8

2016MEDIAN AGE:

$67,400

2016 MEDIAN HOUSEHOLD INCOME:

DEMOGRAPHICS

U.S. Median:

37.7U.S. Median:

$57,200

1.3M

2016POPULATION:

Growth2016-2021*:

1.3%

486K

2016HOUSEHOLDS:

1.7%

Growth2016-2021*:

ECONOMY

METRO HIGHLIGHTS

PROPERTY NAME

MARKETING TEAM

1636 N VENTURA AV

21

DEMOGRAPHICS

POPULATION 1 Miles 3 Miles 5 Miles

▪ 2021 Projection

Total Population 7,524 221,226 487,443

▪ 2016 Estimate


▪ 2010 Census


▪ 2000 Census


▪ Daytime Population

2016 Estimate 20,591 210,224 514,478

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2021 Projection

Total Households 1,889 72,098 166,414

▪ 2016 Estimate


Average (Mean) Household Size 3.74 3.02 2.88

▪ 2010 Census


▪ 2000 Census


HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2016 Estimate

$200,000 or More 1.03% 2.23% 3.63%

$150,000 - $199,000 2.11% 2.60% 4.29%

$100,000 - $149,000 8.03% 8.63% 11.59%

$75,000 - $99,999 6.22% 9.22% 11.26%

$50,000 - $74,999 17.32% 15.80% 17.63%

$35,000 - $49,999 15.64% 13.99% 13.63%

$25,000 - $34,999 13.39% 12.42% 10.68%

$15,000 - $24,999 15.70% 15.66% 12.31%

Under $15,000 20.56% 19.44% 14.97%

Average Household Income $48,843 $56,264 $69,848

Median Household Income $35,259 $37,289 $48,160

Per Capita Income $13,177 $18,454 $23,975

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population By Age

2016 Estimate Total Population 7,392 219,443 481,996

Under 20 33.24% 29.41% 26.57%

20 to 34 Years 23.35% 26.42% 25.50%

35 to 39 Years 6.58% 7.05% 7.02%

40 to 49 Years 13.61% 13.44% 13.81%

50 to 64 Years 16.05% 15.31% 16.85%

Age 65+ 7.18% 8.39% 10.22%

Median Age 30.40 31.50 33.66

▪ Population 25+ by Education Level

2016 Estimate Population Age 25+ 4,307 135,973 313,558

Elementary (0-8) 16.20% 13.70% 10.48%

Some High School (9-11) 16.26% 13.48% 10.91%

High School Graduate (12) 25.53% 21.63% 20.15%

Some College (13-15) 18.71% 20.70% 22.34%

Associate Degree Only 6.96% 6.68% 7.48%

Bachelors Degree Only 8.67% 12.44% 16.86%

Graduate Degree 2.39% 5.59% 7.77%

▪ Time Travel to Work

Average Travel Time in Minutes 29 31 30

PROPERTY NAME

MARKETING TEAM

DEMOGRAPHICS

Income

In 2016, the median household income for your selected geography is

$35,259, compare this to the US average which is currently $54,505.

The median household income for your area has changed by 35.95%

since 2000. It is estimated that the median household income in your

area will be $39,354 five years from now, which represents a change

of 11.61% from the current year.

The current year per capita income in your area is $13,177, compare

this to the US average, which is $29,962. The current year average

household income in your area is $48,843, compare this to the US

average which is $78,425.

Population

In 2016, the population in your selected geography is 7,392. The

population has changed by 2.50% since 2000. It is estimated that the

population in your area will be 7,524.00 five years from now, which

represents a change of 1.79% from the current year. The current

population is 51.52% male and 48.48% female. The median age of

the population in your area is 30.40, compare this to the US average

which is 37.68. The population density in your area is 2,352.88 people

per square mile.

Households

There are currently 1,821 households in your selected geography. The

number of households has changed by 5.08% since 2000. It is

estimated that the number of households in your area will be 1,889

five years from now, which represents a change of 3.73% from the

current year. The average household size in your area is 3.74 persons.

Employment

In 2016, there are 7,107 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

32.08% of employees are employed in white-collar occupations in

this geography, and 66.23% are employed in blue-collar occupations.

In 2016, unemployment in this area is 16.54%. In 2000, the average

time traveled to work was 29.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

31.93% White, 12.25% Black, 1.28% Native American and 13.83%

Asian/Pacific Islander. Compare these to US averages which are:

70.77% White, 12.80% Black, 0.19% Native American and 5.36%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 63.70% of the current year

population in your selected area. Compare this to the US average of

17.65%.

Housing

The median housing value in your area was $355,759 in 2016,

compare this to the US average of $187,181. In 2000, there were 572

owner occupied housing units in your area and there were 1,162

renter occupied housing units in your area. The median rent at the

time was $508.

1300 SEABRIGHT AVENUELONG BEACH, CA 90813

EXCLUSIVELY LISTED BY

DEREK L. CALDWELL

BRE 01929621

(562) 257-1276

1300 seabright avenue€¦ · snapchat and mattel. a growing population base and public healthcare...

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