Skip to main content

Mixed-Use

220 Victoria St

220 Victoria St, Costa Mesa, CA 92627

Listing Price: $8,400,000

Cap Rate
5.54%
Lot Size
1.32 acres
Year Built
1954
Rentable SF
16,215

Investment Overview

Marcus & Millichap Real Estate Investment Service is pleased to present the Costa Mesa Commercial/Industrial/Land opportunity. The property is in the coastal Orange County city of Costa Mesa, California. Costa Mesa is a major commercial and industrial center of Orange County with one of the region’s largest commercial clusters, with an economy based on retail, commerce, and light manufacturing. The subject property consists of 1.32 acres that are commercially zoned with approximately 16,215 square feet of residential and commercial space. The Costa Mesa Commercial/Industrial/Land opportunity consists of one, 4BR/2BA single-family house and seven, commercial buildings. The property is fully leased to various tenants of a month-to-month basis. All the lease rates are significantly below market. Fronting Victoria Place is the single-family home, the Allied Lighting & Lamps showroom (commercial metal building, 4,888 sq.ft.) and block construction building of a 1,000 sq.ft. housing, Doug Alford Logistics and Coast Floors. On the back portion of the property, are additional metal/warehouse storage building for Allied Lighting and Kick’s Plumbing. Also located on the property are two buildings occupied by Harvey’s Boat/ Vehicle Storage. All these tenants have been long-term tenants. The site consists of one parcel and is level. Parking is in front and throughout the property. The subject property could be an ideal owner/user opportunity taking advantage of today’s historically low Small Business Administration loan with rate as low as 3.5% and 10% down payments. For the right investor, this property may be an ideal value-added play given the low lease rates and the ability to reposition the property. The redevelopment opportunity lends itself to various commercial and possibly residential developments. Ceradyne, El Pollo Loco, Emulex, RVCA, Toyota Racing Development, Vans and Volcom are among the businesses headquartered in Costa Mesa. Business services company Experian is the largest employer in the city and has its North American headquarters in Costa Mesa. The largest commercial area is the South Coast Metro region including commercial, cultural, and residential districts, including South Coast Plaza, a 2.8 million square feet of leasable area making it the largest shopping center on the west coast of the United States. South Coast Plaza is the fourth largest shopping mall in the United States with sales over $1.5 billion annually, making it the highest-grossing center in the U.S. South Coast Plaza continuously brings in approximately 24 million visitors annually. The city is located 37 miles southeast of Los Angeles and 87 miles northwest of San Diego.

Investment Highlights

  • Ideal User, Value-Added or Redevelopment Opportunity.
  • 1.32 Acres C-2 Zoned; $145/SqFt/Land; Commercial/Residential Developments May Be Possible.
  • 7 Commercial Buildings & 1 Four Bedroom/Two Bath House.
  • Value-Added - Extremely Low Month-to-Month Rents.
  • Proforma Capitalization Rate of 5.54%
  • Prime Central Location.

Exclusively Listed By

Mixed-Use

220 Victoria St

Listing Price: $8,400,000

Cap Rate
5.54%
Lot Size
1.32 acres
Year Built
1954
Rentable SF
16,215

Investment Highlights

  • Ideal User, Value-Added or Redevelopment Opportunity.
  • 1.32 Acres C-2 Zoned; $145/SqFt/Land; Commercial/Residential Developments May Be Possible.
  • 7 Commercial Buildings & 1 Four Bedroom/Two Bath House.
  • Value-Added - Extremely Low Month-to-Month Rents.
  • Proforma Capitalization Rate of 5.54%
  • Prime Central Location.

Investment Overview

Marcus & Millichap Real Estate Investment Service is pleased to present the Costa Mesa Commercial/Industrial/Land opportunity. The property is in the coastal Orange County city of Costa Mesa, California. Costa Mesa is a major commercial and industrial center of Orange County with one of the region’s largest commercial clusters, with an economy based on retail, commerce, and light manufacturing. The subject property consists of 1.32 acres that are commercially zoned with approximately 16,215 square feet of residential and commercial space. The Costa Mesa Commercial/Industrial/Land opportunity consists of one, 4BR/2BA single-family house and seven, commercial buildings. The property is fully leased to various tenants of a month-to-month basis. All the lease rates are significantly below market. Fronting Victoria Place is the single-family home, the Allied Lighting & Lamps showroom (commercial metal building, 4,888 sq.ft.) and block construction building of a 1,000 sq.ft. housing, Doug Alford Logistics and Coast Floors. On the back portion of the property, are additional metal/warehouse storage building for Allied Lighting and Kick’s Plumbing. Also located on the property are two buildings occupied by Harvey’s Boat/ Vehicle Storage. All these tenants have been long-term tenants. The site consists of one parcel and is level. Parking is in front and throughout the property. The subject property could be an ideal owner/user opportunity taking advantage of today’s historically low Small Business Administration loan with rate as low as 3.5% and 10% down payments. For the right investor, this property may be an ideal value-added play given the low lease rates and the ability to reposition the property. The redevelopment opportunity lends itself to various commercial and possibly residential developments. Ceradyne, El Pollo Loco, Emulex, RVCA, Toyota Racing Development, Vans and Volcom are among the businesses headquartered in Costa Mesa. Business services company Experian is the largest employer in the city and has its North American headquarters in Costa Mesa. The largest commercial area is the South Coast Metro region including commercial, cultural, and residential districts, including South Coast Plaza, a 2.8 million square feet of leasable area making it the largest shopping center on the west coast of the United States. South Coast Plaza is the fourth largest shopping mall in the United States with sales over $1.5 billion annually, making it the highest-grossing center in the U.S. South Coast Plaza continuously brings in approximately 24 million visitors annually. The city is located 37 miles southeast of Los Angeles and 87 miles northwest of San Diego.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower