116 16th Street, Costa Mesa

$9,999,000

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0.73

Acres

Listing Agent
Chas Patterson - The Firm Real Estate Services Inc.

About 116 16th Street

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.

Features of 116 16th Street

MLS® # OC24093070
Price $9,999,000
Bathrooms 0.00
Acres 0.73
Year Built 1946
Type Commercial Sale
Sub-Type Industrial
Status Active

Community Information

Address 116 16th Street
Area C2 - Southwest Costa Mesa
City Costa Mesa
County Orange
Zip Code 92627

Amenities

Utilities Cable Connected, Electricity Connected, Sewer Connected, Water Connected
Is Waterfront No
Has Pool No

Interior

Has Basement No
Fireplace No
# of Stories 1

Exterior

Exterior Block
Construction Block

Additional Information

Date Listed May 8th, 2024
Days on Market 22
Zoning Light Industrial
Foreclosure No
Short Sale No
RE / Bank Owned No
Leased Land Fee
Senior Community No

Listing Details

AgentChas Patterson
OfficeThe Firm Real Estate Services Inc.

Listing Map

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