110-118 E 16th St - Service FOR SALE


Costa Mesa, CA 92627- Downtown Costa Mesa
$9,999,000 USD
425-998-7068
110-118 E 16th St, Costa Mesa, CA for Sale
$9,999,000 USD
Service - FOR SALE
1/32
null | Request Cap Rate

110-118 E 16th St
Costa Mesa, CA 92627
Downtown Costa Mesa


HIGHLIGHTS

  • Rare industrial location in Newport Beach-Costa Mesa with coveted yard space
  • Perfect for automotive use and collectors
  • Zoning allows for automotive, restaurant and many other uses
  • Specific Plan allows for development of up to 4-story mixed use
  • Investment or owner-user
  • Located in "Opportunity Zone"

OVERVIEW

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 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. One of the buildings can be made available for an owner-user. 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.

FOR SALE DETAILS

PRICE

$9,999,000 USD

PRICE/SF

$667 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Service

ADD'L SUBTYPES

Auto Dealership, Restaurant, Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1946

UTILITIES

-

CLEAR CEILING HT

14 Ft

DOCKS

-

DRIVE INS

4

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.73

LAND SF

31,799

ZONING

General Industrial

APN/PARCEL ID

425-431-04

ASK ABOUT THIS PROPERTY

Fraser ElliottThe Firm Real Estate ServicesMore Info
425-998-7068

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Fraser ElliottThe Firm Real Estate ServicesMore Info
425-998-7068

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.