420 Central Newport/Mesa
3,633 SF | Retail Building | Costa Mesa, CA 92627 | $2,999,999 ($826/SF) | 8.25% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $2,999,999
- Property Type
-
Retail
- Square Feet
- 3,633 SF
- Price / Square Foot
- $826
Listing Contacts
Gary Mittin
Verified Profile
- Property Info
Property Overview
1990 Harbor is a high-performing store by a best-in- class operator. Investors will benefit from a strong return on the investment and ease of management with no landlord responsibilities. The building underwent a partial reconstruction and extensive renovations. The renovation budget included in $560,000 tenant improvements and in building renovations, providing a new owner with a beautifully refurbished property. The offering is a great investment opportunity for a 1031 exchange buyer or investor looking for a strong return-on-investment and no landlord responsibilities. Estimated Traffic Count: Approximately 38,000 plus cars per day.
Title has the building as 3,633 sf, but according to plans submitted to the City of Costa Mesa for renovations the square footage is 2,442. Broker can provide renovation plans upon request. Buyer to verify square footage.
Business sold separately for $2,999,999. Contact broker for more details.
Title has the building as 3,633 sf, but according to plans submitted to the City of Costa Mesa for renovations the square footage is 2,442. Broker can provide renovation plans upon request. Buyer to verify square footage.
Business sold separately for $2,999,999. Contact broker for more details.
Property Details
- Class
- C
- Year Built
- 2022
- Stories
- 1
- Property Subtype
- Drug Store
- Lot Size (sq. ft)
- 9,583 SF
Highlights
- NNN Lease structure with annual rental increases.
- Ideal 1031 Investment with no landlord responsibilities.
- Complete renovation in 2022.
- Excellent Access to 55 FWY and 405 FWY.
- Tenant responsible for rent, NNN expenses and all property maintenance.
- City of Costa Mesa is a limited license jurisdiction. Property is uniquely qualified for retail cannabis sales.
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