The property is vacant with 3 units, providing a Buyer the opportunity to lease up the property with one, two, or three tenants. The dividing walls are not load bearing, so converting the building to one or two units would be easy.
The rentable square feet is relatively small allowing us to use a slightly higher proforma PSF of $5.00/sf/mo. NNN for two units and $6.00/sf.mo. for unit 132 Cabrillo St. as this unit has it's own private patio/storage area.
THE PROPERTY
This is a very unique property, as it's rare to find a small property with three separate units, each with their own address, restroom, and utilities. Each unit is separately metered for electric and water. No gas.
The parking lot is currently striped for 2 stalls, plus one handicap (3/1,000sf). Plus, there is typically an abundance of available street parking.
EXCELLENT LOCATION The subject property is located just off Newport Blvd, which averages over 159,000 vehicles-per-day (Harbor Blvd & Newport Blvd). The 55 freeway which flows into and out of Newport Blvd is approximately 2 miles from the subject property.
Zoned Commercial Limited
Previous tenants included, hair salon, custom tailor, and auto sales.
see page for a list of City of Costa Mesa permitted uses.
