Homes for sale - 310 Marine AVE, Newport Beach, CA 92662

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Max Lindenberger

max.lindenberger@engelvoelkers.com

$ 3,149,000

Est. payment -/mo

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Pending

310 Marine AVE Newport Beach, CA 92662

2,178 Sqft Lot

UPDATED:

10/04/2024 07:50 PM

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Pending

Purchase Type For Sale

MLS Listing ID NP24024850

HOA Y/N No

Year Built 1946

Lot Size 2,178 Sqft

Lot Dimensions Assessor

Property Description

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 business broker.

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.

Location

State CA

County Orange

Area N9 - Lower Newport Bay - Balboa Island

Zoning Mixed Use

Interior

Heating Central

Cooling Wall/Window Unit(s)

Inclusions see inclusions list in supplements

Fireplace No

Laundry Inside, In Kitchen

Exterior

Utilities Available Sewer Connected

Roof Type Composition,Flat

Present Use See Remarks

Total Parking Spaces 1

Building

Lot Description Street Level

Story 1

Water Public

Others

Tax ID 05015114

Security Features Security System,Closed Circuit Camera(s),Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

Listed by Annie Clougherty • Compass • 949-375-3037

Max Lindenberger

Advisor | License ID: 02073155

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