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116 E 16th Street, Costa Mesa, CA 92627
$9,999,000
116 E 16th Street, Costa Mesa, CA 92627View this property at 116 E 16th Street, Costa Mesa, CA 92627
116 E 16th StreetCosta MesaCA92627
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Property Description
Three highly desirable industrial buildings in a rare "Opportunity Zone" in the heart of Newport Beach and Costa Mesa are now available! The properties consist of 110, 116 and 118 E 16th Street. 110 E 16th Street currently serves as the headquarters for a top tier vintage Ferrari dealer (which can be made available for an owner-user) and the 116 and 118 E 16th Street buildings are occupied by automotive repair shop tenants. The buildings feature a quality blend of functional office space, spacious warehouses and 14+ foot ceiling heights. The 116 building also contains two professional grade paint booths.
As part of Costa Mesa's 19 West Urban Plan, this site is suitable for mixed use development. The city's specific plan allows for up to 4-stories with a density of 1.0-1.25 FAR, which could allow for development of 30,000 - 40,000 buildable square feet. According to one city site analysis, it appears that 18-36 units could potentially be developed.
This prime location sits near Newport Blvd, Superior Ave, 17th Street, the 55 Freeway and Pacific Coast Hwy with easy access to everything. In addition, there is potential for significant tax advantages by investing in a designated "Opportunity Zone" (see https://economicdevelopment.business.ca.gov/place-based-strategies/opportunity-zones/ for further information). All of this combined with the fact that this area is growing in popularity with trendy restaurants, retail stores, residential neighborhoods and its close proximity to the best beaches, entertainment and hospitals in Orange County make this an amazing property for investment or owner-user.
This property is perfect for auto collectors, restaurant concepts, redevelopment, investors or owner-users.
Full Property Details
Full Property Details for 116 E 16th St
General
- Price: $9,999,000
- Status: Active
- Type: Industrial
- MLS ID: OC24093070
- Updated: 5/8/2024
- Days on Market: 12 days
- Added to Site: 12 day(s) ago
Rooms
Other Rooms
- Laundry: None
Location
- County: Orange
- Driving Directions: Located at 16th Street and Superior Ave in Costa Mesa
Utilities
- Utility Description: Cable Connected, Electricity Connected, Sewer Connected, Water Connected
Structural Information
- Construction: Block
- Entry Floor Number: 1
- Stories/Levels: 1
- Building Size: 14990
- Square Feet: 14,990
- Year Built: 1946
- Year Built Source: Public Records
Lot Features
- Lot Size (Acres): 0.73
- Useable Acres: .73
- Lot Size (Sq. Ft.): 31,799
- Lot Size Source: Assessor
- Fence: Yes
- Lot Features: Lot 20000-39999 Sqft
- Lot Description: Lot 20000-39999 Sqft
- Fencing (Description): Security
Financial Considerations
- Price Per Sq. Ft.: $667
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
- Investment: Yes
- Property ID: 42543104
Listed by The Firm Real Estate Services Inc., ChasPatterson
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Schools
Schools serving 116 E 16th St
School District:Newport-Mesa Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
300 E 15th St, Newport Beach, CA 92663 | K-6 | 0.6 mi | |
2000 Cliff Dr, Newport Beach, CA 92663 | 7-8 | 1.2 mi | |
600 Irvine Ave, Newport Beach, CA 92663 | 9-12 | 1.1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 116 E 16th St
Date
Details
Price
Change
Source
5/08/2024
Listed
$9,999,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 116 E 16th St
Year
Property Taxes
Change
Tax Assessment
Change
2023
$17,169
6%
$947,924
2%
2022
$16,142
4%
$929,338
2%
2021
$15,562
1%
$911,116
1%
2020
$15,440
1%
$901,774
2%
2019
$15,240
1%
$884,093
2%
2018
$15,023
1%
$866,758
2%
2017
$14,830
2%
$849,763
2%
2016
$14,531
1%
$833,101
2%
2015
$14,346
2%
$820,588
2%
2014
$14,031
1%
$804,514
—
2013
$13,869
—
$800,879
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 116 E 16th St
116 E 16th Street, Costa Mesa, CA 92627 (MLS# OC24093070) is a Industrial property. 116 E 16th Street is currently listed for $9,999,000 and was received on May 08, 2024. Want to learn more about 116 E 16th Street? Do you have questions about finding other Industrial real estate for sale in Costa Mesa? You can browse all Costa Mesa real estate or contact a Coldwell Banker agent to request more information.