Coastal Commercial is pleased to offer for sale a fee simple interest (land and building) well-located, single tenant NNN leased restaurant and bar property in the heart of Costa Mesa, CA. The tenant just executed a brand new 5-year lease term with 3, 5-year options to renew the lease at Fair Market Value. The restaurant currently operates with a full liquor license.
The subject property consists of 4,800 square foot building split into two spaces. There is a 3,200 square foot space which contains the main dining area, full kitchen, bar, and 2 restrooms. There is also a separate 1,600 square foot adjacent space currently being used for additional restrooms, catering and events, and storage. The layout allows the tenant flexibility for future use changes. The lot size is approximately 12,100 SF with 16 parking spaces on premises. The property has been a restaurant use for over 30 years.
The subject property is located conveniently close to the 55 Freeway just off of Harbor Boulevard and 19th Street. The busy corridor is surrounded by bustling retailers such as: 24 Hour Fitness, CVS Pharmacy, Grocery Outlet, Yard House, Sevilla, Time Nightclub, Buffalo Wild Wings, and many more located within the Triangle Square Restaurant and Entertainment complex.
The subject property offers an investor an opportunity to purchase a well located single tenant NNN property with no management. The property is appealing to a passive investor or 1031 exchange buyer.