369 E 17th St - Storefront FOR SALE


Costa Mesa, CA 92627
$26,548,000 USD
949-725-8565
369 E 17th St, Costa Mesa, CA for Sale
$26,548,000 USD
Storefront - FOR SALE
1/7
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369 E 17th St
Costa Mesa, CA 92627


HIGHLIGHTS

  • Irreplaceable, Coastal Costa Mesa Shopping Center

OVERVIEW

*Quintessential Retail Center – Westport Plaza & Square is a 97% leased, ±39,334 SF retail and service retail shopping center comprised of local-favorite, upscale boutiques and eateries such as Plumbs Café, Common Thread, Crumbl Cookies, Laser Away and others *Destination Location – Situated along 17th Street, arguably the most coveted and dominant retail/commercial corridor in the west Newport Beach/east Costa Mesa trade area, featuring vibrant traffic counts, and drawing from infill, affluent demographics ($182,000 AHI) *Outstanding Income Growth – Due to robust in-place rental increases (tenants pay 4% annual increases), the offering enjoys an impressive CAGR of +4.4%; over a 5- and 10-year hold periods, the NOI is projected to increases more than $400,000 (23%), and $923,000 (54%) over the hold periods, respectively] and a leveraged cash on cash return +13% *Fully Depreciable Asset – Outstanding after-tax returns due to the long-term leasehold nature of the property—potential to depreciate up to 100% of the asset’s purchase price

FOR SALE DETAILS

PRICE

$26,548,000 USD

PRICE/SF

$675 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Westport Plaza & Square

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

191

LAND DETAILS

LAND ACRES

1.8 AC

LAND SF

78,408 SF

ZONING

C1

APN/PARCEL ID

425-193-04

ASK ABOUT THIS PROPERTY

949-725-8565

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949-725-8565

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