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116 E 16th StreetCosta Mesa, CA 92627

Orange County

$9,999,000List price
14,990Sq Ft
1946Year built
0.73Acre lot
1Stories
29 months agoOn market

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-zones/ for further information). All of this combined with the fact that this area is growing in popularity with trendy restaurants, retail stores, residential neighborhoods and its close proximity to the best beaches, entertainment and hospitals in Orange County make this an amazing property for investment or owner-user. This property is perfect for auto collectors, restaurant concepts, redevelopment, investors or owner-users.

Property Information

Property type
Commercial Sale
Sub-type
Industrial
Year built
1946
Stories
1
Building area
14,990 Sq Ft
Lot size
0.73 acres
Zoning
Light Industrial
Days on market
886
MLS® Listing#
OC24093070

Property Features

Laundry
None
Fencing
Security
Construction
Block
Utilities
Cable Connected · Electricity Connected · Sewer Connected · Water Connected
Water source
Public
Parcel number
42543104

Directions

Located at 16th Street and Superior Ave in Costa Mesa

Listing Courtesy: Chas Patterson Realty - 949-295-0610

Presented by: Chas Patterson

Based on information from California Regional Multiple Listing Service, Inc. as of 2024-05-08T00:00:00.000Z and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Licensed in the state of California.

Connect with a Local Real Estate Expert

  • Krissy Allen

    Sales Representative

    EXIT Alliance Realty

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  • Cindee Choi

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  • Ryann Smith

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