225 Marine Avenue

    Newport Beach, CA 92662
    • $2,650,000
    • STATUS: Active
    • ON SITE: 12 days
    • ID#: OC19211347
    UPDATED: 81 min ago
    $2,650,000
    • 0
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,494
      SQFT
    • $1,063
      $/SQFT
    Type:
    Commercial
    Built:
    1934
    County:

    School Ratings & Info

    Description

    BALBOA ISLAND Rare opportunity to purchase spacious commercial building in prime location, with upstairs office/studio and one car garage/storage area located on popular Marine Avenue. Very high walking traffic, International tourist destination, located among diversified restaurants, shops and service businesses, including the new Irvine Ranch Market to open this Fall.Note all numbers are pro forma based on $4.61 per sq ft for entire building NNN. Retail space approximarely 1900 sq ft , office approximately 520 sq ft. Net charges approximately $1.42 per sq ft.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T13:50:36.953. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
    www.northsdrealty.com/homes/98691699

    225 Marine Avenue Newport Beach, CA 92662

    • Price: $2,650,000
    • Status: Active
    • Updated: 81 min ago
    • ID#: OC19211347
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    2,494
    SQFT
    $1,063
    $/SQFT
    1934
    Built
    Neighborhood:
    N9 - Lower Newport Bay - Balboa Island
    County:
    Orange
    Area:
    N9 - Lower Newport Bay - Balboa Island
    Property Description
    BALBOA ISLAND Rare opportunity to purchase spacious commercial building in prime location, with upstairs office/studio and one car garage/storage area located on popular Marine Avenue. Very high walking traffic, International tourist destination, located among diversified restaurants, shops and service businesses, including the new Irvine Ranch Market to open this Fall.Note all numbers are pro forma based on $4.61 per sq ft for entire building NNN. Retail space approximarely 1900 sq ft , office approximately 520 sq ft. Net charges approximately $1.42 per sq ft.
    Exterior Features

    Lot Features Utilities - Overhead Lot Size Source Assessor Lot Size Units Square Feet Parking Total 1.00

    Interior Features

    Condo Area Units Square Feet Cooling Zoned Cooling YN Yes Heating Central Heating YN Yes Laundry Features None

    Property Features

    Accounting Type Proforma Additional Parcels YN No Asset Class Retail Building Area Units Square Feet Building Status Existing Country Us Current Use Comments Retail Plus Office/Studio Gross Scheduled Income 180670.00 Insurance Expense 8000.00 Investment Property YN Yes Land Use Retail Laundry YN No Leasable Area Units Square Feet Lease Considered YN Yes Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 138000.00 Number Of Units Leased 2 Operating Expense 42670.00 Professional Management Expense 5520.00 Property Sub Type Retail Real Estate Tax Expense 29150.00 Special Listing Conditions Standard Total Monthly Rent 11500 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Georgie Fenton of Coldwell Banker Res. Brokerage and Chuck Iverson of Coldwell Banker Res. Brokerage


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T13:50:36.953. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
     
    The Houston Team | Compass CA DRE#01991628
    2100 Costa Del Mar
    Carlsbad CA, 92009