Costa Mesa, CA 92627,116 E 16th ST
Costa Mesa, CA 92627,116 E 16th ST
Costa Mesa, CA 92627,116 E 16th ST
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$9,999,000
Est. payment /mo
0.73 Acres Lot
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Key Details

Property Type Commercial

Sub Type Industrial

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC24093070

HOA Y/N No

Year Built 1946

Lot Size 0.730 Acres

Property Sub-Type Industrial

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-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.

Location

State CA

County Orange

Area C2 - Southwest Costa Mesa

Zoning Light Industrial

Interior

Fireplace No

Laundry None

Exterior

Fence Security

Utilities Available Cable Connected, Electricity Connected, Sewer Connected, Water Connected

Building

Story 1

Water Public

Others

Tax ID 42543104

Acceptable Financing 1031 Exchange

Listing Terms 1031 Exchange

Special Listing Condition Standard

Virtual Tour https://player.vimeo.com/video/912490305

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CRMLS – RECore
Listed by Chas Patterson The Firm Real Estate Services Inc. 949-295-0610

NEARBY SCHOOL & BUSINESS

SCHOOLS PROPERTIES
Elementary Schools 20
  • 10

    John H. Eader Elementary School

    Public | KG - 5

  • 10

    Ralph E. Hawes Elementary School

    Public | KG - 5

  • 10

    Maude B. Davis Elementary School

    Public | KG - 6

  • 10

    Eastbluff Elementary School

    Public | KG - 6

  • 9

    Oka (Isojiro) Elementary School

    Public | KG - 5

  • 9

    Newport Elementary School

    Public | KG - 6

  • 8

    Newport Heights Elementary School

    Public | KG - 6

  • 8

    Mariners Elementary School

    Public | KG - 6

  • 8

    Kaiser Elementary School

    Public | 3 - 6

  • 7

    Sonora Elementary School

    Public | KG - 6

  • 5

    Adams Elementary School

    Public | KG - 6

  • 5

    Pomona Elementary School

    Public | KG - 6

  • 5

    Occs:Chep/Pchs

    Public | KG - 12

  • 4

    Victoria Elementary School

    Public | KG - 6

  • 4

    Wilson Elementary School

    Public | KG - 6

  • 4

    College Park Elementary School

    Public | KG - 6

  • 3

    Whittier Elementary School

    Public | KG - 6

  • 1

    Rea Elementary School

    Public | KG - 6

  • 1

    Orange County Special Education

    Public | KG - 12

  • 0

    Huntington Christian School

    Private | KG - 8

Middle Schools 4
  • 9

    Isaac L. Sowers Middle School

    Public | 6 - 8

  • 7

    Ensign Intermediate School

    Public | 7 - 8

  • 5

    Costa Mesa Middle and High School

    Public | 7 - 12

  • 0

    Brethren Christian Jr/Sr High School

    Private | 6 - 12

High Schools 6
  • 8

    Newport Harbor High School

    Public | 9 - 12

  • 6

    Estancia High School

    Public | 9 - 12

  • 2

    Monte Vista High School

    Public | 9 - 12

  • 0

    Coastline Regional Occupational Program

    Public | 9 - 12

  • 0

    Back Bay High School

    Public | 9 - 12

  • 0

    Newport Academy Day School

    Private | 9 - 12

School and business data provided by Attom Data.

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