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1601 Avocado Avenue, Newport Beach, CA
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1601 Avocado Avenue
Newport Beach, CA 92660-7798 - Newport Beach Submarket
For Sale Price:
Total Space Avail:
53 Surface spaces are available; Ratio of 4.2/1,000 SF
Atrium, Balcony, Property Manager on Site
December 2001: Newport Diagnostic Center, represented by Voit Commercial, purchased the building from Pacific Mutual. Voit Commercial also represented the seller.
Once in a Lifetime Investment
* This rare opportunity to purchase a fee-simple medical property within Newport Center/Fashion Island, one of the most prestigious coastal and supply constrained submarkets in the country, with owned gated surface parking and no Irvine Company SLURS or CC&R' s make 1601 Avocado a generational investment opportunity.
High-Image Owner/User Opportunity
* The property offers 6,274 RSF of available space on the second floor with a five year lease in place on the first floor at $5.00/SF NNN to Newport Diagnostic Center, Orange County' s premier medical imaging company which has been in business since 1991. The ground floor lease allows tremendous flexibility for an owner/user as the in-place lease will provide passive cash flow and future expansion space.
Superior Market Fundamentals
* The 1,384,000 SF Newport Beach medical office market is one of the best performing medical markets in Southern California with an extremely low vacancy rate of 5.9%. The supply constrained medical market has no medical office development under construction. According to CBRE Econometric Advisors, Orange County is projected to realize over 30% rent growth over the next five years due to low vacancy rates and increasing job growth making it one of the top investment markets in the United States
CLICK HERE TO CONTACT THE SALES BROKER
FOR SALE CONTACTS
Cypress West Realty Partners
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CLICK HERE TO CONTACT THE LEASING BROKER
FOR LEASE CONTACTS
Cypress West Realty Partners
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