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Palm Street Restaurant 111 Palm St
5,388 SF of Retail Space Available in Newport Beach, CA 92661
Highlights
- Rare Restaurant Location at the Beach
- By Ferry and Fun Zone on Newport Peninsula
- High Visibility and High Traffic area
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 5,388 SF | 5 Years | $27.84 /SF/YR $2.32 /SF/MO $299.67 /m²/YR $24.97 /m²/MO $12,500 /MO $150,002 /YR | Triple Net (NNN) |
1st Floor
- Lease rate does not include utilities, property expenses or building services
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS FOR 111 Palm St , Newport Beach, CA 92661
| Property Type | Retail | Gross Leasable Area | 5,388 SF |
| Property Subtype | Restaurant | Year Built | 1985 |
| Property Type | Retail |
| Property Subtype | Restaurant |
| Gross Leasable Area | 5,388 SF |
| Year Built | 1985 |
About the Property
BEST LOCATION IN SOUTHERN CALIFORNIA BEACH AREA Introducing a rare opportunity to lease one of Southern California's most coveted restaurant spaces, nestled in the heart of Newport Beach's picturesque peninsula. Boasting an enviable location right by the ferry landing leading to the iconic Balboa Island, this 5,388 square foot gem sits proudly on a prime corner, offering unparalleled visibility at a bustling intersection. Multiple parking lots surround this location! Elegantly designed with new windows illuminating the main dining area and efficient LED lighting throughout, this establishment exudes potential sophistication and charm. Equipped with Direct TV hookups, 9 floor sinks in the kitchen, and 2 additional floor drains in the storage/office area, every detail has been meticulously crafted to elevate the dining experience. A boon for efficiency, a convenient large "walk-in" with beer lines to the bar area streamlines operations, while the bar area itself features 4 floor drains for added convenience. Storage is ample with two dry storage areas and an additional office space, complemented by a roll-up door for seamless deliveries. Outdoor dining takes center stage with a spacious patio area, offered exclusively to the restaurant operator and complete with gas line and electrical connections. Men's and women's restrooms are thoughtfully installed for guest convenience. Powering the establishment are three panels providing generous amperage, including 200 amps, 225 amps, and 200 amps respectively, ensuring ample electrical capacity to meet any operational demand. Completing this extraordinary opportunity is the inclusion of an additional office (possible residential apartment w/Site Development Review) located upstairs, offering versatility and potential for further revenue streams. With its unbeatable proximity- a mere 1500 feet to the Balboa Island Ferry launch and just 500 feet to the beach- this location epitomizes the epitome of a successful restaurant venture. Don't miss out on this rare chance to make your mark in one of Southern California's most coveted culinary destinations.
- Corner Lot
- Restaurant
- Signage
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John Gessford -
Wendy Chiri -
First Team Real Estate
Presented by
Palm Street Restaurant | 111 Palm St
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