2156 Newport Blvd
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2156 Newport Blvd
3,040 SF 47% Leased Office Building Costa Mesa, CA 92627 $1,895,000 ($623/SF)
Investment Highlights
- Owner-User: 2nd floor vacant: Approx. 1,600 SF (52.6% of GLA)
- Tremendous visibility on Newport Boulevard (11.8k VPD)
- Income Generating: 1st floor TT since 2017, ~1 year remaining, ~$31.2k/yr. (Modified Gross)
- Property recently underwent extensive renovations to exterior, large 2nd floor unit + new secure gate, block wall perimeter
- Standalone asset with ample on-site parking allowing for multiple uses
- Measure K was approved by Costa Mesa voters on Nov. 8, 2022, which allows for development of housing in select commercial/industrial areas
Executive Summary
Douglas Elliman Commercial is proud to repreesnt the sale of 2156 Newport Boulevard in Costa Mesa, CA. The property sits on 0.21 AC with direct exposure on Newport Boulevard (over 11.8k VPD). The building is approximately 3,040 sq. ft. with recent capital improvements. The ground floor is fully leased with lease expiration of 12/31/2025 (TT since 2017). An owner-user can immediately occupy the 2nd floor, which is approximately 1,600 sq. ft. (~54% of GLA - qualifying for SBA loan) with 5 offices, two bathrooms w/ showers and two points of entry. There is ample parking allowing for a variety of uses with fenced lot and secure permiters block wall and gate.
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
3,040 SF
Building Class
B
Year Built/Renovated
1990/2023
Price
$1,895,000
Price Per SF
$623
Percent Leased
47%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,520 SF
Slab To Slab
11’
Building FAR
0.33
Land Acres
0.21 AC
Zoning
C1 - C-1 Local Business - variety of allowed uses
Parking
18 Spaces (5.92 Spaces per 1,000 SF Leased)
Amenities
- Signage
Walk Score ®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | 426-121-21 | Improvements Assessment | $427,242 |
| Land Assessment | $710,585 | Total Assessment | $1,137,827 |
PROPERTY TAXES
Parcel Number
426-121-21
Land Assessment
$710,585
Improvements Assessment
$427,242
Total Assessment
$1,137,827
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Robert Hunter -
Douglas Elliman
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2156 Newport Blvd
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