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    Prime Costa Mesa Commercial Sublease Title is generated by Realmo AI

    1998 Harbor Boulevard, Costa Mesa, CA 92627

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    Commercial Lease - Costa Mesa, CA

    Property size:
    10,540 SF
    Added:
    May 9, 2024
    Days on Market:
    758
    Last Refresh:
    Jun 5 at 3:06 am

    Property Features for 1998 Harbor Boulevard

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    41920302
    Size
    10,540 SF

    Utilities

    Cooling system
    None (Cooling)

    Building Details

    Year built
    1955
    Architectural style
    Other

    We can help!

    Listing Contact
    Mark Todd
    Mark Todd

    Listing agent Mark Todd License #01168021

    Listing office Compass 1600 Newport Center Dr. Ste 250, Newport Beach, CA

    Listing date May 9, 2024

    MLS# NP24070576 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High Visibility Location: Boasts 12,000,000 cars passing by annually, ensuring exceptional brand exposure.
    • Ample Parking: Features 55 parking spaces, accommodating a high volume of customers.
    • Flexible Zoning (C1): Suited for a variety of businesses including retail, restaurants, and showrooms.
    • Prime Street Frontage: Offers 58 feet of street frontage without setbacks for maximum exposure.
    • Strategic Location: Situated in Costa Mesa, known for its arts, shopping, dining, and proximity to urban centers and beaches.
    • Tenant Flexibility: Opportunity for full control of the building and parking, or for two tenants to split the building and parking separately.

    Overview

    Located in Costa Mesa, California, this commercial property at 1998 S. Harbor Blvd. offers a sublease opportunity suitable for entrepreneurs and business owners. The property benefits from high visibility, with 12,000,000 cars passing by annually. The property features 58 feet of street frontage without setbacks, maximizing exposure to passing traffic. The location is in a vibrant area known for its arts scene, shopping, dining, and proximity to urban centers and beaches. Zoned as a Local Business District (C1 Zoning), the property allows for flexible zoning and uses tailored to community needs, making it suitable for retail stores, restaurants, and showrooms. Ample parking is available, with 55 spaces provided (5.22 per 1,000 SF). The primary tenant is seeking a replacement space, and the secondary tenant's lease for the parking lot can be canceled with a 30-day notice by the primary tenant. This allows for tenant improvements for a new tenant desiring full control of the building and parking, or for two tenants wishing to split the building and parking separately. The property size is 10540 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Psardo's Mesa Upholstery ... Furniture & Home Goods Mesa Upholstery Furniture & Home Goods Mesa Interiors Interior Design

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

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    Location Insight

    • Map
    • Local Demand
    City
    Costa Mesa
    County
    Orange
    State
    California
    Longitude
    -117.9181022
    Latitude
    33.647006

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    FAQs

    What type of property is this?
    Showroom - Exceptional commercial sublease opportunity in a vibrant Costa Mesa location.
    Where is this showroom located?
    The property is located at 1998 Harbor Boulevard Costa Mesa, CA.
    What are key features of this property?
    This property features: High Visibility Location: Boasts 12,000,000 cars passing by annually, ensuring exceptional brand exposure.; Ample Parking: Features 55 parking spaces, accommodating a high volume of customers.; Flexible Zoning (C1): Suited for a variety of businesses including retail, restaurants, and showrooms.
    (949) 514-0000
    We can help!
    Listing Contact
    Mark Todd
    Mark Todd
    Real Estate License ID: 01168021
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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