Newport Beach 23rd Street 123-125 23rd St 2,000 SF 100% Leased Retail Building Newport Beach, CA 92663 $4,101,300 CAD ($2,050.65 CAD/SF)

Investment Opportunity: Prime Coastal Mixed-Use/Retail Asset
123-125 23rd Street, Newport Beach, CA
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. Additionally with one of the spaces on a MTM lease it presents an owner user an opportunity to control there destiny with owning their building. The month-to-month tenancy provides a seamless path for a business owner to occupy 50% of the building while the neighboring restaurant helps subsidize the mortgage. This is an ideal scenario for a professional boutique, surf shop, or high-end service provider looking to own their real estate in a world-class location.
Key Property Highlights
• Premier Coastal Location: Located steps from the beach, benefiting from intense foot traffic, high-end demographics, and the iconic Newport lifestyle.
• Rare On-Site Parking: Includes 8 tandem parking spaces, a premium luxury in this densely populated beach community that significantly enhances tenant retention and customer access.
• Diverse Income Stream: 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.
• Immediate Upside: The second 1,000-square-foot suite is currently on a month-to-month gross lease at $3,662/month, providing an immediate opportunity to reset rents to market rates or restructure to a Triple Net (NNN) lease.