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310 Marine Avenue, Newport Beach, CA 92662
$3,495,000
310 Marine Avenue, Newport Beach, CA 92662View this property at 310 Marine Avenue, Newport Beach, CA 92662
310 Marine AvenueNewport BeachCA92662
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Property 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.
Full Property Details
Full Property Details for 310 Marine Ave
General
- Price: $3,495,000
- Status: Active
- Type: Commercial
- MLS ID: NP24024850
- Updated: 3/22/2024
- Days on Market: 106 days
- Added to Site: 112 day(s) ago
Business
- Business Type: Food & Beverage
Interior
- Laundry Facilities: Yes
Rooms
Other Rooms
- Laundry: In Kitchen, Inside
Additional Information
- Security/Safety: Carbon Monoxide Detector(s), Closed Circuit Camera(s), Security System, Smoke Detector(s)
Parking
- Uncovered Spaces: 1
Location
- County: Orange
- Building Name: Sugar n' Spice
- Driving Directions: Turn south onto Marine avenue from Bayside Drive.
Heating & Cooling
- Cooling Type: Wall/Window Unit(s)
- Heating Type: Central
Utilities
- Utility Description: Sewer Connected
Structural Information
- # Buildings: 1
- Construction: Stucco
- Roof: Composition, Flat
- Entry Floor Number: 1
- Stories/Levels: 1
- Building Size: 1559
- Square Feet: 1,559
- Retail: 393 Sq. Ft.
- Year Built: 1946
- Year Built Source: Assessor
Unit Information
- Occupancy Rate: Occupied
Lot Features
- Lot Size (Acres): 0.05
- Useable Acres: .05
- Lot Size (Sq. Ft.): 2,178
- Lot Size Source: Assessor
- Lot Dimensions: 75 x 30
- Lot Features: Level with Street
- Lot Description: Level with Street
Financial Considerations
- Price Per Sq. Ft.: $2,241
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2.5%
- Exclusions: one freezer
- Inclusions: see inclusions list in supplements
- Property ID: 5015114
Listed by Compass, AnnieClougherty
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Schools
Schools serving 310 Marine Ave
School District:Newport-Mesa Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
3101 Pacific View Dr, Corona Dl Mar, CA 92625 | K-6 | 1.7 mi | |
2101 Eastbluff Dr, Newport Beach, CA 92660 | 7-12 | 1.9 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 310 Marine Ave
Date
Details
Price
Change
Source
2/01/2024
Listed
$3,495,000
592.77%
MLS
4/26/1995
Sold
$504,500
—
Public Record
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 310 Marine Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$11,407
30%
$814,498
2%
2022
$8,793
2%
$798,528
2%
2021
$8,626
1%
$782,871
1%
2020
$8,542
2%
$774,844
2%
2019
$8,385
1%
$759,651
2%
2018
$8,278
2%
$744,756
2%
2017
$8,134
2%
$730,153
2%
2016
$7,955
1%
$715,837
2%
2015
$7,878
2%
$705,085
2%
2014
$7,694
1%
$691,274
—
2013
$7,649
—
$688,150
—
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 310 Marine Ave
310 Marine Avenue, Newport Beach, CA 92662 (MLS# NP24024850) is a Commercial property. 310 Marine Avenue is currently listed for $3,495,000 and was received on February 01, 2024. Want to learn more about 310 Marine Avenue? Do you have questions about finding other Commercial real estate for sale in Newport Beach? You can browse all Newport Beach real estate or contact a Coldwell Banker agent to request more information.