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Jerry Barbanell

Newport Beach CA Real Estate & Commercial for Sale

1 Properties Found

The median home value in Newport Beach, CA is $2,850,000. This is higher than the county median home value of $900,000. The national median home value is $308,980. The average price of homes sold in Newport Beach, CA is $2,850,000. Approximately 53% of Newport Beach homes are owned, compared to 35.5% rented, while 11.5% are vacant. Newport Beach real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you like to see a property, contact Newport Beach real estate agent to arrange a tour today!
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Beds:
n/a
Baths:
Sq.Ft.:
1,559
Status:
Active
MLS#:
NP24024850
Type:
Mixed Use, Business Opportunities
Lot size:
0.05 Acres
Year built:
1946
Listing Agent: Annie Clougherty - Compass, 949-375-3037
View additional info

A rare and unparalleled opportunity arises with the offering of Sugar n' Spice, an enduring symbol of Balboa Island's rich history and community spirit. Established in 1945, this beloved property has stood the test of time, serving as a beacon of nostalgia and culinary delight for nearly eight decades. From its humble beginnings, Sugar n' Spice has woven itself into the fabric of the island, becoming a cherished destination where locals and visitors alike gather to indulge in its signature treats, including Balboa Bars and chocolate-dipped frozen bananas.Beyond its culinary offerings, Sugar n' Spice holds a special place in the hearts of the community, serving as a backdrop for countless memories and shared experiences. Generations of families have frequented this beloved landmark, forging connections and traditions that span lifetimes. With its timeless charm and storied history, Sugar n' Spice presents a unique opportunity for discerning buyers to own a piece of Balboa Island's heritage and continue the legacy of this treasured establishment. The property is mixed-use and offers a great residential unit in the rear of the building. Recent visual upgrades for this expansive three-bedroom and two-bathroom property include new paint, new lighting, new luxury vinyl plank flooring and a new roof. Things that are important also to a prospective Buyer that you might not see are the hardware & lining of the wastewater pipes were replaced and redone, as well as newly replaced drainage pipes in the front shop were also recently completed. The property is being sold in conjunction with the sale of the business through a private attorney.Both the front shop and back unit are both used by the current owner, so there is no lease history. However, based on the comparables on Marine, the current back residential could rent for $4850/month. The last commercial lease on BBI on Marine was at $15.29/square foot, comping this out at $6000/month for the front shop.

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Based on information from CRISNet MLS as of 4/19/2024. 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.
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