1419 Superior Ave
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1419 Superior Ave
8,935 SF 100% Leased Office Building Newport Beach, CA 92663 $5,750,000 ($644/SF)
Investment Highlights
- GENERATIONAL COASTAL MOB OWNER-USER OPPORTUNITY ACROSS FROM HOSPITAL
Executive Summary
GENERATIONAL COASTAL MOB OWNER-USER OPPORTUNITY ACROSS FROM HOSPITAL
* Coastal Real Estate | Incredible opportunity to own a standalone medical office building in Newport Beach, CA. The offering sits just seconds away from the Newport Beach Peninsula and Newport’s world renowned amenities.
* Hospital Adjacent MOB | The property sits at the intersection of Superior and Hospital Road, walking distance to Hoag Newport Beach, a 498-bed acute care hospital.
* Owner-User Potential | The property, consisting of 8,935 sq. ft., is currently 62% leased to 4 tenants providing an owner-user the ability to immediately occupy 3,394 sq. ft. and generate additional income from the leased premises.
EXCEPTIONAL MARKET FUNDAMENTALS
* Core Market | Orange County is among the top investment markets in the Americas in 2023 among investors, reflecting the county’s resilient industries, stable economic fundamentals, and sustained rent growth. With strong employment and an attractive quality of life, Orange County is a highly sought after gateway market.
* Firm Medical Demand | Newport Beach residents at retirement age (65+) total ±19.2% of the population. Those approaching retirement (50-64) total ±19.4% of the population, demonstrating growing medical demand for years to come.
* Infill, Coastal Location | Newport Beach has very limited new development projected due to the land restraints and cost restraints to develop new facilities. Existing real estate will continue to outperform markets with excess land for new development.
IDEAL MOB LOCATION WITH INCREDIBLE DEMOGRAPHICS AND AMENITIES
* HOAG Proximity | The property’s proximity to Hoag Newport Beach provides an incredible amenity base that few MOBs have. Hoag has been the highest ranked Hospital in Orange County 7 years in a row according to U.S. News & World Report. They also rank Hoag #4 in the entire LA Metro and #9 in California.
* Retail and Lifestyle Amenities | In addition to the healthcare synergies, the property also benefits from a variety of retail and lifestyle amenities including Lido Village, Triangle Square, Newport Beach Peninsula and the world famous beaches of Newport Beach.
* Unbelievable Demographics | The city of Newport Beach has an average household income of $230,141 and an average value of owner occupied housing units of $1,861,000. The 3 and 5-mile population base is 114,513 and 256,122, respectively.
* Coastal Real Estate | Incredible opportunity to own a standalone medical office building in Newport Beach, CA. The offering sits just seconds away from the Newport Beach Peninsula and Newport’s world renowned amenities.
* Hospital Adjacent MOB | The property sits at the intersection of Superior and Hospital Road, walking distance to Hoag Newport Beach, a 498-bed acute care hospital.
* Owner-User Potential | The property, consisting of 8,935 sq. ft., is currently 62% leased to 4 tenants providing an owner-user the ability to immediately occupy 3,394 sq. ft. and generate additional income from the leased premises.
EXCEPTIONAL MARKET FUNDAMENTALS
* Core Market | Orange County is among the top investment markets in the Americas in 2023 among investors, reflecting the county’s resilient industries, stable economic fundamentals, and sustained rent growth. With strong employment and an attractive quality of life, Orange County is a highly sought after gateway market.
* Firm Medical Demand | Newport Beach residents at retirement age (65+) total ±19.2% of the population. Those approaching retirement (50-64) total ±19.4% of the population, demonstrating growing medical demand for years to come.
* Infill, Coastal Location | Newport Beach has very limited new development projected due to the land restraints and cost restraints to develop new facilities. Existing real estate will continue to outperform markets with excess land for new development.
IDEAL MOB LOCATION WITH INCREDIBLE DEMOGRAPHICS AND AMENITIES
* HOAG Proximity | The property’s proximity to Hoag Newport Beach provides an incredible amenity base that few MOBs have. Hoag has been the highest ranked Hospital in Orange County 7 years in a row according to U.S. News & World Report. They also rank Hoag #4 in the entire LA Metro and #9 in California.
* Retail and Lifestyle Amenities | In addition to the healthcare synergies, the property also benefits from a variety of retail and lifestyle amenities including Lido Village, Triangle Square, Newport Beach Peninsula and the world famous beaches of Newport Beach.
* Unbelievable Demographics | The city of Newport Beach has an average household income of $230,141 and an average value of owner occupied housing units of $1,861,000. The 3 and 5-mile population base is 114,513 and 256,122, respectively.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
8,935 SF
Building Class
B
Year Built
1957
Price
$5,750,000
Price Per SF
$644
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,468 SF
Slab To Slab
10’
Building FAR
0.28
Land Acres
0.74 AC
Zoning
OFFICE MEDICAL (CO-M 0.49 - ZONED FOR MEDICAL COMMERCIAL USE, THE LOT WAS ORGINALLY ZONED AS MULTIPLE UNIT RESIDENTIAL (RM 18 DU/AC). ZONING CHANGE WAS INITIATED BY THE OWNER.
Parking
50 Spaces (5.6 Spaces per 1,000 SF Leased)
Amenities
- Reception
- Storage Space
- Shower Facilities
- Air Conditioning
1 of 1
Walk Score ®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 424-021-32 | Improvements Assessment | $507,794 |
| Land Assessment | $1,401,526 | Total Assessment | $1,909,320 |
PROPERTY TAXES
Parcel Number
424-021-32
Land Assessment
$1,401,526
Improvements Assessment
$507,794
Total Assessment
$1,909,320
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1419 Superior Ave
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