Investment Overview

Marcus & Millichap is pleased to offer for sale the ± 0.43 acre parcel of vacant land located on Bristol Street in the city of Costa Mesa one block south of Bear Street and the 73 freeway. This site is rectangular in shape and measures 50’ wide by 385’ deep. The site is completely paved and is striped as a parking lot although it is not being utilized at the current time. The property is zoned Commercial Limited (CL) and has a General Plan Land Use designation of General Commercial. This CL zoning district is intended for unique areas of land which, due to the proximity of residential development or the potential for traffic circulation hazards, require special precautions to be taken to assure appropriate development. In November of 2022, the voters of the city of Costa Mesa passed a revitalization ordinance known as Measure K. The Measure K ordinance provides for housing options and revitalization along specific key corridors within the city. This property falls within one of the very few Measure K designated corridors and this could prove to be a major benefit to this site. The site is located on the small stretch of Bristol Street that is bounded by the 73 freeway to the north and the 55 freeway to the south. Bristol Street is a major arterial through the city which means that it is a six-lane divided roadway with a raised median. Neighbors to the south include office/retail buildings, the neighbor to the north is a small apartment building and the neighborhood to the west is all detached single-family homes. Vacant parcels of land are exceedingly rare in the city of Costa Mesa, especially those with frontage along a major arterial such as Bristol Street. This site has been listed for sale at a price of only $63.56 per square foot.