107 Pebbly Beach Rd Avalon
Coastal Commercial is pleased to offer for sale a rare mixed-use fee simple property on the waterfront of Catalina Island, in the city of Avalon. Built in 2007, the building is one of the only newer construction assets in Avalon and is currently stabilized at a 5.06% cap rate. The three-story property consists of three retail units on the ground floor, three residential units on the second floor, and a residential penthouse with a rooftop deck on the third floor. The retail units are occupied by Brown’s Bikes (approximately 1,000 square feet), Dive Catalina (approximately 500 square feet), and Ciao-Baci Fine Gifts (approximately 700 square feet). All units are either occupied by the Seller or operate on month-to-month leases, providing flexibility for a new owner.
Investment Sale Details
List Price
$5,995,000
Square Feet (GLA)
6,040
Current Cap Rate
1.64%
Pro Forma Cap Rate
5.06%
- Trophy Asset - Rare opportunity to acquire an irreplaceable waterfront fee simple property on Catalina Island in an extremely high barrier-to-entry market, stabilized at a 5.06% cap rate.
- Potential Owner/User Flexibility - The property can be enjoyed by an owner/user looking to utilize any of the residential units and/or take advantage of the existing profitable businesses inside the building
- Excellent Location - The subject property is located in the heart of of Catalina Island on Pebbly Beach Road which flows into Crescent Ave, the Main Street surrounding Avalon Bay
- High Foot Traffic - Property benefits from being the first building that the thousands of visitors encounter as they walk into the village of Avalon after arriving at the Cabrillo Mole Landing on one of the many Catalina Express or Catalina Flyer, high-speed ferries
- Panoramic Ocean Views - The three-story building has breathtaking views from every unit, especially the 2nd floor balconies, third floor balcony and rooftop deck