310 Marine Avenue, Newport Beach, CA 92662

  • $3,495,000
  • $2,242
310 Marine Avenue, Newport Beach, CA 92662
For Sale
310 Marine Avenue, Newport Beach, CA 92662
  • $3,495,000
  • $2,242

Overview

Property ID: SGR-24775194
  • Commercial Sale
  • Property Type
  • 1946
  • Year Built

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 private attorney.

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.

  • Address 310 Marine Avenue
  • City Newport Beach
  • State/county CA
  • Zip/Postal Code 92662
  • Area N9 - Lower Newport Bay - Balboa Island
  • Country United States

Details

Updated on March 6, 2024 at 1:09 pm
  • Property ID: SGR-24775194
  • Price: $3,495,000
  • Land Area: 2178.00 m²
  • Year Built: 1946
  • Property Type: Commercial Sale
  • Property Status: For Sale
  • Living Area: 1559.00
  • MLS#: NP24024850
  • Office Name: COMPASS
  • Agent Name: Annie Clougherty
  • MLS Status: Active
  • Living Area Prefix: Sqft
  • Agent State License: 01716801
  • IDX Contact Info: 949-375-3037

Additional details

  • Roof: Composition,Flat
  • Cooling: Wall/Window Unit(s)
  • Heating: Central
  • County: Orange
  • Property SubType: Mixed Use
  • Parking: 1.00
  • Water Source: Public

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