$ 9,999,000
116 E 16th Street Costa Mesa, CA 92627
Schedule a Tour
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 9,999,000
Est. payment /mo
Active
116 E 16th Street Costa Mesa, CA 92627
14,990 SqFt
UPDATED:
06/28/2024 05:25 PM
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
Year Built 1946
Lot Size 0.730 Acres
Acres 0.73
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
Area Listing
Zoning Ligh
Interior
Fireplace No
Exterior
Utilities Available Cable Connected, Electricity Connected
Building
New Construction No
Others
Tax ID 42543104
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Chas Patterson • The Firm Real Estate Services Inc.
GET MORE INFORMATION
QUICK SEARCH