1520 W Coast Hwy 2,880 SF Retail Building Newport Beach, CA 92663 $2,000,000 ($694.44/SF)

Coldwell Banker Commercial BLAIR is pleased to present the property available for sale at 1520 W. Coast Highway in Newport Beach, California. This property is a free-standing, commercial building with approximately 2,880 SF of space, with a smaller portion of the second floor dedicated to office use while the majority of the space is on the ground floor, suitable for a wide range of commercial uses. The building sits on approximately 13,068 SF of land and is positioned on a ground lease with a long-term land lease in place, which includes twelve (12) five-year renewal options extending the sublease to the year 2078. Currently the ground lease monthly rent is set at $7,900 per month with a 15% increase on the first day of each option term. The property includes 14 parking spaces evenly distributed on both sides and offers excellent visibility and access via West Coast Highway (Pacific Coast Highway/State Route 1) and nearby major freeways, including the 55, 73, and 405. Located in the vibrant Mariners Mile district, the property is surrounded by a diverse mix of retail, dining, and service-oriented businesses, such as Billy’s at the Beach, Sol Grill, and Thermador Repair Group, creating a dynamic commercial environment. The ground floor offers wide-ranging potential uses, including medical and dental offices, ambulance services, animal grooming, catering services, auto sales, repair, and washing, barber shops, beauty salons, restaurants, retail, health and fitness centers, outpatient surgery centers, and banking facilities, making this property highly adaptable for professional offices, retail, hospitality, and other commercial ventures. The property is vacant and may be remodeled or redeveloped to meet a buyer’s specific needs.