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307 - 309 Marine Avenue - Jubilee Plaza, Newport Beach, CA

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307 - 309 Marine Avenue - Jubilee Plaza

Newport Beach, CA 92662-1200 - Newport Beach Submarket

Property Type:Retail Sub Type:Storefront Retail/Residential Status:Existing Year Built:1955
Building Size:5,373 SF Land Area:.1 AC (4,487 SF)
For Sale Price:$4,300,000 Price/SF:$800.30
Cap Rate:3.20 %
Parking:3 Covered spaces are available; Ratio of .55/1,000 SF

Includes 3 2/2 luxury apartments w garages
5 retail units

Sale Notes:
FABULOUS MIXED USE RETAIL/RESIDENTIAL BUILDING ON BEAUTIFUL BALBOA ISLAND. Undoubtedly the finest building on Balboa Island's Marine Ave. This outstanding building has five retail shops and three wonderful apartments with garages, on a rare double lot. It is within a block and half of the bay on both the north and south sides of the Island. Balboa Island is one of California's most visited beach communities with tourist coming from all over the country and is a year round tourist destination.
Many of the rents are substantially below current market rate so there is room for an upside return.
This is an extremely rare opportunity to purchase a mixed use property on Balboa Island
Marine Ave

Coldwell Banker
Chuck Iverson
(949) 574-3589

Cushman & Wakefield
Jim Kovaleski
(408) 436-3624

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