$9,999,000

116 E 16th Street, Costa Mesa, CA 92627

  • 14,990 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1946
  • Property Lot Size Icon0.73acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $667/sqft
  • Property List Date Icon Listed 1 year ago

Property Description

Three highly desirable industrial buildings in a rare "Opportunity Zone" in the heart of Newport Beach and Costa Mesa are now available! The properties consist of 110, 116 and 118 E 16th Street. 110 E 16th Street currently serves as the headquarters for a top tier vintage Ferrari dealer (which can be made available for an owner-user) and the 116 and 118 E 16th Street buildings are occupied by automotive repair shop tenants. The buildings feature a quality blend of functional office space, spacious warehouses and 14+ foot ceiling heights. The 116 building also contains two professional grade paint booths. As part of Costa Mesa’s 19 West Urban Plan, this site is suitable for mixed use development. The city’s specific plan allows for up to 4-stories with a density of 1.0-1.25 FAR, which could allow for development of 30,000 - 40,000 buildable square feet. According to one city site analysis, it appears that 18-36 units could potentially be developed. This prime location sits near Newport Blvd, Superior Ave, 17th Street, the 55 Freeway and Pacific Coast Hwy with easy access to everything. In addition, there is potential for significant tax advantages by investing in a designated "Opportunity Zone" (see https://economicdevelopment.business.ca.gov/place-based-strategies/opportunity-zones/ for further information). All of this combined with the fact that this area is growing in popularity with trendy restaurants, retail stores, residential neighborhoods and its close proximity to the best beaches, entertainment and hospitals in Orange County make this an amazing property for investment or owner-user. This property is perfect for auto collectors, restaurant concepts, redevelopment, investors or owner-users.

Listing Status:
Active
Date Added:
May 8, 2024 at 05:00AM
Listing Office:
The Firm Real Estate Services Inc. : 949-877-8827
Listing Agent:
Chas Patterson : 949-295-0610
MLS ID:
OC24093070
  • Laundry: None
  • General: Block1
  • Originating MLS: CRMLS_CRM
  • County: Orange
  • Zoning: Light Industrial42543104
  • Fencing: Security
  • Utilities: Cable ConnectedElectricity ConnectedSewer ConnectedWater Connected
  • Water: Public
  • Source: CRMLS_CRM

This listing courtesy of Chas Patterson, The Firm Real Estate Services Inc.

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

N

Newport Heights Elementary School

300 E 15th St, Newport Beach, CA, 92663

Grades KG-6

0.53 miles away

E

Ensign Intermediate School

2000 Cliff Dr, Newport Beach, CA, 92663

Grades 7-8

1.14 miles away

N

Newport Harbor High School

600 Irvine Ave, Newport Beach, CA, 92663

Grades 9-12

1.01 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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