A mid-20th Century post office building covering a city block in the Belmont Heights neighborhood of Long Beach is on the market.
But the U.S. Postal Service hasn't given any sign it plans to leave the Loma Station. The post office has been in the building for more than 30 years, and still has more than four years left on its lease.
"This is something that doesn't come along every day," broker/agent Gia Silva said. "It's a lovely building, a great location and it's zoned institutional."
The building at Fourth Street and Loma Avenue was built in 1961 and is owned by private investors looking to sell. Having the Postal Service as a tenant with years left on the lease is a plus for a new buyer, Silva said.
"That four years gives an investor time to play, time to plan," Silva said. "The income will still come in."
Silva is owner of INTI Realty. In this sale, she is partnering with broker Juan Huizar, owner of Sage Real Estate. Silva said both firms are boutique agencies, focusing on investment properties in Long Beach and beyond.
Loma Station, across the street from Fire Station 4, has been both a neighborhood post office and a distribution center. Its large fenced parking lot covers close to half of the .48 acre parcel, while the one-story squared-off building has 7,157 square feet of space.
"With its great location and institutional zoning, it could be almost anything," Silva said. "The highest and best use might be medical, especially across from the fire station. But it could even be housing at some point."
The property is classified as a redevelopment. In Long Beach in recent years, some vacated post offices have been adaptively reused while others have been torn down to be replaced by more modern buildings.
Loma Station's list price is $2.5 million. Silva and Huizar have created a website specifically for the property. Go to lomastation.com.