333 E 17th St - Freestanding FOR SALE


Costa Mesa, CA 92627
$14,106,000 USD
949-922-3991
333 E 17th St, Costa Mesa, CA for Sale
$14,106,000 USD
Freestanding - FOR SALE
1/20
null | 5.75% Cap Rate

333 E 17th St
Costa Mesa, CA 92627


HIGHLIGHTS

  • First time EVER offered on the market for sale
  • Prime 21-tenant retail center with exceptional mix of retail, service & restaurants
  • Shake Shack’s (NYSE: SHAK) 2nd Orange County location opened in May 2024
  • Exceptional visibility due to 400’ of frontage on 17th Street
  • 17th Street is one of Orange County’s premier retail corridors
  • Significant upside potential - majority of rents are undermarket

OVERVIEW

Lee & Associates - Newport Beach is pleased to exclusively offer for sale the leasehold investment 333east located at 333 E 17th St in Costa Mesa, CA. This is a rare generational opportunity to own a well-located retail investment property in one of Orange County’s most coveted retail corridors. 333east features an eclectic mix of twenty-one tenants ranging from retail to service and restaurants. The restaurant offerings include local hotspots Tabu Shabu, Oak & Coal, Tres Muchachos, and the recent addition of Shake Shack which opened its doors for business in May 2024. The investment opportunity provides the buyer significant upside, as most of the rents are under market relative to other properties on 17th Street. In addition, the rate of increases in the shop leases outpace the ground rent (which increases once every 10 years). DO NOT DISTURB TENANTS

FOR SALE DETAILS

PRICE

$14,106,000 USD

PRICE/SF

$406 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

333east

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food, Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1962

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.57 AC

LAND SF

111,949 SF

ZONING

C-1

APN/PARCEL ID

425-213-06

ASK ABOUT THIS PROPERTY

Ken GouldLee & Associates - Newport BeachMore Info
949-922-3991

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Ken GouldLee & Associates - Newport BeachMore Info
949-922-3991

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