Aaron Tofani Of ATE Real Estate Sells Retail Building In Long Beach For $9.9M
5354 East 2nd Street
$9,900,000
$1,101/SF
Building Size
8,991 SF
Asset Type
Retail
Closing
Nov 25, 2025
AI
The property involved in this transaction is a retail building located at 5354 East 2nd Street, Long Beach, with a sale price of $9,900,000. The property spans 8,991 square feet and is situated on 0.3 acres. The market value is characterized by its position in Belmont Shore, an area known for dedicated parking and strong foot traffic.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,900,000
- Square Footage: 8,991
- Address: 5354 East 2nd Street
- Market: Long Beach
- Seller: Aaron Tofani - ATE Real Estate
- Brokers: Bill Asher, Kevin Fryman & Jeff Lefko - Hanley Investment Group; Nathan Holthouser - Coastal Commercial
This transaction was facilitated by Hanley Investment Group and Coastal Commercial, who represented the seller in the deal. The sale involved a historic, fully renovated retail building, which houses South of Nick’s restaurant and KAL Capital, and was completed through a 1031 exchange to a private investor.
Players
Long Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.60%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93