116 E 16th Street Active Save Request In-Person Tour Request Virtual Tour
Costa Mesa,CA 92627
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 14,990 sqft
Price per Sqft $667
MLS Listing ID CROC24093070
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1946
Lot Size 0.730 Acres
Property Description
Three highly desirable industrial buildings in a rare "Opportunity Zone" in the heart of Newport Beach and Costa Mesa are now available! The properties consist of 110, 116 and 118 E 16th Street. 110 E 16th Street currently serves as the headquarters for a top tier vintage Ferrari dealer (which can be made available for an owner-user) and the 116 and 118 E 16th Street buildings are occupied by automotive repair shop tenants. The buildings feature a quality blend of functional office space, spacious warehouses and 14+ foot ceiling heights. The 116 building also contains two professional grade paint booths. As part of Costa Mesa’s 19 West Urban Plan, this site is suitable for mixed use development. The city’s specific plan allows for up to 4-stories with a density of 1.0-1.25 FAR, which could allow for development of 30,000 - 40,000 buildable square feet. According to one city site analysis, it appears that 18-36 units could potentially be developed. This prime location sits near Newport Blvd, Superior Ave, 17th Street, the 55 Freeway and Pacific Coast Hwy with easy access to everything. In addition, there is potential for significant tax advantages by investing in a designated "Opportunity Zone" (see https://economicdevelopment.business.ca.gov/place-based-strategies/opportunity
Location
State CA
County Orange
Interior
Fireplace No
Building
Water Public