Newport Beach CA Commercial for Sale
$5,950,000
501 Park Avenue Newport Beach, CA 92662
- Type:
- Other
- Sq.Ft.:
- 5,080
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.12 Acres
- Year built:
- 2015
- Baths:
- MLS#:
- OC24091109
ADDITIONAL INFORMATION
THE PROPERTY: Welcome to your slice of paradise on Balboa Island in Newport Beach! This exquisite property offers an unparalleled opportunity to own a top-performing restaurant with two stunning apartments above, all completely rebuilt to perfection in 2015. THE RESTAURANT: Step into the heart of culinary excellence as you enter the spacious and inviting restaurant and bar area. Bathed in natural light pouring through large windows, this space exudes warmth and charm. With ample room for indoor and outdoor seating and a meticulously designed kitchen equipped with top-of-the-line appliances, it’s a dream canvas for creativity. THE LOCATION Situated in the heart of Balboa Island, this property enjoys a prime location in one of Newport Beach’s most coveted neighborhoods. Surrounded by quaint shops, charming cafes, and scenic waterfront vistas, residents and visitors alike are drawn to the vibrant energy and unparalleled beauty of this coastal community. With easy access to the Balboa Island Ferry, nearby beaches, and an array of recreational activities, the possibilities for adventure and relaxation are endless.
$3,149,000
310 Marine Avenue Newport Beach, CA 92662
- Type:
- Mixed Use
- Sq.Ft.:
- 1,559
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.05 Acres
- Year built:
- 1946
- Baths:
- MLS#:
- NP24024850
ADDITIONAL INFORMATION
A rare and unparalleled opportunity arises with the offering of Sugar n' Spice, an enduring symbol of Balboa Island's rich history and community spirit. Established in 1945, this beloved property has stood the test of time, serving as a beacon of nostalgia and culinary delight for nearly eight decades. From its humble beginnings, Sugar n' Spice has woven itself into the fabric of the island, becoming a cherished destination where locals and visitors alike gather to indulge in its signature treats, including Balboa Bars and chocolate-dipped frozen bananas. Beyond its culinary offerings, Sugar n' Spice holds a special place in the hearts of the community, serving as a backdrop for countless memories and shared experiences. Generations of families have frequented this beloved landmark, forging connections and traditions that span lifetimes. With its timeless charm and storied history, Sugar n' Spice presents a unique opportunity for discerning buyers to own a piece of Balboa Island's heritage and continue the legacy of this treasured establishment. The property is mixed-use and offers a great residential unit in the rear of the building. Recent visual upgrades for this expansive three-bedroom and two-bathroom property include new paint, new lighting, new luxury vinyl plank flooring and a new roof. Things that are important also to a prospective Buyer that you might not see are the hardware & lining of the wastewater pipes were replaced and redone, as well as newly replaced drainage pipes in the front shop were also recently completed. The property is being sold in conjunction with the sale of the business through a business broker. Both the front shop and back unit are both used by the current owner, so there is no lease history. However, based on the comparables on Marine, the current back residential could rent for $4850/month. The last commercial lease on BBI on Marine was at $15.29/square foot, comping this out at $6000/month for the front shop.
Newport Beach Real Estate
The median home value in Newport Beach, CA is $2,201,900. This is higher than the county median home value of $707,900. The national median home value is $219,700. The average price of homes sold in Newport Beach, CA is $2,201,900. Approximately 48.44% of Newport Beach homes are owned, compared to 36.54% rented, while 15.01% are vacant. Newport Beach real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Newport Beach real estate agent to arrange a tour today!
Newport Beach, California 92662 has a population of 86,793. Newport Beach 92662 is less family-centric than the surrounding county with 24.71% of the households containing married families with children. The county average for households married with children is 36.16%.
The median household income in Newport Beach, California 92662 is $119,379. The median household income for the surrounding county is $81,851 compared to the national median of $57,652. The median age of people living in Newport Beach 92662 is 46.7 years.
Newport Beach Weather
The average high temperature in July is 70.9 degrees, with an average low temperature in January of 49.8 degrees. The average rainfall is approximately 13.5 inches per year, with 0 inches of snow per year.