Leasehold Sale
1520 W. Coast Hwy.,
Newport Beach, CA 92663
Prime Location Across from Balboa Bay Club
$2,000,000
Offering Price
$94,140
NOI
4.71%
Cap Rate
$694
Price Per SF
2,880
Building SF
CG (Commercial General)
Zoning
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$2,000,000
Offering Price
$94,140
NOI
4.71%
Cap Rate
$694
Price Per SF
2,880
Building SF
CG (Commercial General)
Zoning
OVERVIEW
Last rent increase as Jan. 31, 2025. Current rent $7,845/mo. NNN or $94,140/yr.
Current NNNs approx. $0.38/sf. ($1,100/mo.)
15% rent increases every 5 years. Approx. ten more (5)yr. options to renew.
Ground lease expires December 2078.
WIDE-RANGING USES
Buyer may remodel or completely redevelop the property. Current zoning allows for wide-ranging uses such as; RETAIL SALES FINANCIAL RELATED MEDICAL & DENTAL OFFICES AMBULANCE SERVICES (w/ MUP) OUTPATIENT SURGERY (w/ MUP) ANIMAL GROOMING AND RETAIL SALES CATERING SERVICES FOOD SERVICE (w/ MUP) HEALTH FITNESS AUTO SALES AUTO REPAIR (w/ MUP) AUTO WASHING see page 18 for a complete list of permitted uses.
FOR MORE DETAILS CONTACT
John Gessford
Senior Vice President | Principal
(949) 278-6645
jgessford@lee-associates.com
01137479
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