Shopping Strip
123-125 23rd St
125 23rd St, Newport Beach, CA 92663
Listing Price: $3,000,000
Investment Overview
This versatile 2,000-square-foot retail property presents a rare opportunity to acquire a high-visibility asset in one of the most coveted coastal markets in Southern California. Situated just one block from the sand in the heart of Newport Beach, the property offers a unique blend of immediate cash flow, “value-add” potential, and long-term redevelopment upside.
123-125 23rd St
Investment Highlights
- Located steps from the beach, benefiting from intense foot traffic, high-end demographics, and the iconic Newport lifestyle.
- Includes 8 tandem parking spaces, a premium luxury in this densely populated beach community that significantly enhances tenant retention and customer access.
- Anchored by an established sushi restaurant with a long term lease through 2030, providing stability and guaranteed 3% annual rent increases to hedge against inflation.
- The second 1,000-squarefoot suite is currently on a month-to-month gross lease at $3,662/month, providing an immediate opportunity to reset rents to market rents and recapture NNN's.
Exclusively Listed By
Listing Price: $3,000,000
Investment Highlights
- Located steps from the beach, benefiting from intense foot traffic, high-end demographics, and the iconic Newport lifestyle.
- Includes 8 tandem parking spaces, a premium luxury in this densely populated beach community that significantly enhances tenant retention and customer access.
- Anchored by an established sushi restaurant with a long term lease through 2030, providing stability and guaranteed 3% annual rent increases to hedge against inflation.
- The second 1,000-squarefoot suite is currently on a month-to-month gross lease at $3,662/month, providing an immediate opportunity to reset rents to market rents and recapture NNN's.
Investment Overview
This versatile 2,000-square-foot retail property presents a rare opportunity to acquire a high-visibility asset in one of the most coveted coastal markets in Southern California. Situated just one block from the sand in the heart of Newport Beach, the property offers a unique blend of immediate cash flow, “value-add” potential, and long-term redevelopment upside.
Exclusively Listed By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
