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116 E 16th St Costa Mesa, CA, 92627
$9,999,000 Commercial for sale Comm Ind For Sale
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.bu siness.ca.gov/place-based-stra tegies/opportunity
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Property details
14,990 sqft interior area
Land area
31,799 sqft (0.73 acres)
Days on Verhouse
13
Address
116 E 16th St, Costa Mesa, CA, 92627
City of California
Costa Mesa
County
Orange
Year Built
1946
District
Listing
Nearby major retailers
Costco
Albertsons
Walmart Neighborhood Market
Trader Joe's
T-Mobile
Gucci
Wholesale: 1
Supermarket: 4
Mobile phone: 2
Leather: 1
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Interior Features
—
Utilities Included
Electricity Connected, Cable Connected
Listed by
Chas Patterson, The Firm Real Estate Services Inc.
Name
Chas Patterson
License number
01935216
Brokerage company
The Firm Real Estate Services Inc.
MLS #
CROC24093070
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Calculate your monthly payments
Mortgage
$30,700
Taxes
$0
HOA dues
$0
Mortgage
$1,999,800 / 20%
2.28%
30 years
Your amount
$30,700 / month
Exterior Features
Block construction and more
Construction
Block
Lot details
TMK #42543104
Parcel nr.
42543104
92627 info
Essentials nearby
Neighborhood stats
Walkability
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
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no data
Hospital
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no data
Park
—
no data
Beach
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no data
Elementary school
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no data
Middle school
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no data
High school
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no data
Local airport
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no data
People living in 92627
40%
Families with children
National average: 39%
44%
Non family households
245,915
Population
$166,510
Average Income
Age & gender
Median age 41 years
More info
Commute types
85% commute by car
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Education level
30% have bachelor education
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Number of employees
3% work in management
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Vehicles available
41% have 2 vehicle
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Vehicles by gender
41% have 2 vehicle
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Housing market insights for
$2.54m
Neighborhood average
sales price*
sales price*
$1.75m
Neighborhood median
sales price*
sales price*
423
Number
of sales*
of sales*
Housing type
41% are single detacheds
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Rooms
42% of the houses have 4 or 5 rooms
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Bedrooms
62% have 2 or 3 bedrooms
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Owners vs Renters
52% are renters
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15.33 / 20
Most Walkable
►
15-20
Most Walkable
10-15
Above Average
5-10
Below Average
1-5
Least Walkable
Walkability according to the National Walkability Index
Price history
New Listing May 8, 2024
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| May 8, 2024 | New Listing | $9,999,000 | 0 | MLS #CROC24093070 |
Taxes of 116 E 16th St, Costa Mesa, CA, 92627
Ligh zoning / MLS #CROC24093070
Zoning
Ligh
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Frequently Asked Questions about 116 E 16th St
What is 116 E 16th St?
116 E 16th St is a Commercial/Industrial propertywith 14,990 sqft interior space.
What is the rental income?
-
What is the full address of this Commercial?
116 E 16th St, Costa Mesa, CA, 92627.
What comparable properties are nearby?
Comparable nearby commercial properties include 283 Avocado St, 887 W 15th St, 501 Park Ave, 417 Main St, 18281 Gothard St, 16812 Red Hill Ave.
Based on information from the bridgeMLS as of 05-20-2024. 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.
Listing last updated on: May 08, 2024
Verhouse Last checked 6 minutes ago
The closest grocery stores are Trader Joe's, 0.14 miles away and Vons 2513, 0.2 miles away.
The 92627 zip area has a population of 245,915, and 40% of the families have children. The median age is 41.94 years and 85% commute by car. The most popular housing type is "single detached" and 52% is renter.
