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    525 El Paseo Drive Corona del Mar, CA 92625

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    Claim this Listing
    New
    For Sale
    $9,950,000

    Land/Lot - Corona del Mar, CA

    Lot size:
    35,700.00 Acres
    Added:
    Apr 28, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 29 at 8:06 pm

    Property Features for 525 El Paseo Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-1
    Exterior features
    Community Features Included: Gutters, Curbs, Street Lights, Storm Drains, Sidewalks, Suburban, Park
    Standard status
    Active
    APN
    05029127
    Lot size
    35,700.00 Acres

    Taxes and HOA fees

    Expense value
    575
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Rob Smith
    Rob Smith

    Listing agent Rob Smith License #01113111

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

    Listing date Apr 28, 2026

    MLS# NP26092209 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.

    Overview

    Large Lot with Permitted Plans

    This property presents a development opportunity with permitted plans on a large lot in Irvine Terrace. The site, spanning well over 4/5 of an acre, features an architectural design by Brandon Architects. The design allows for the creation of a private residence that embodies resort-style living. The main residence encompasses nearly 11,000 square feet of living space, with up to 5 bedrooms, 7 baths, and 2 powder rooms. The design incorporates an ocean-view great room with a bar adjacent to a gourmet "show" kitchen and a chef's kitchen. The residence includes a lounge area with a bar, wine room, tasting area, table games area, and media room. A home gym with a bath and sauna is also part of the design. Exterior amenities include a pool and spa with a baja shelf and sunken fire pit, an outdoor kitchen with a sit-at bar, dining and lounge areas, a bocce ball court, and a pool bath. The property also features a private 770 square foot 1-bedroom guest house. The garage accommodates 7 - 10 vehicles and has a "Bat Cave" entrance at street level. The property offers views of the Pacific Ocean, Newport Harbor, Catalina Island, and city lights. It is located near Balboa Island, beaches, private golf, tennis and yacht clubs, Fashion Island/Newport Center, and the heart of Corona del Mar.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Dental Office Hair Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Corona del Mar
    County
    Orange
    State
    California
    Longitude
    -117.883409
    Latitude
    33.6079

    FAQs

    What type of property is this?
    Residential land & home lot - Development opportunity in Corona del Mar with permitted plans.
    Where is this residential land & home lot located?
    The property is located at 525 El Paseo Drive Corona del Mar, CA.
    What is the asking price?
    The asking price for this property is $9,950,000.
    What are key features of this property?
    This property features: Permitted plans for a nearly 11,000 sq ft main residence on a large 4/5 acre lot in Irvine Terrace.; Architectural design by Brandon Architects with 5 bedrooms, 7 baths, and ocean views.; Extensive amenities for entertaining: lounge with bar, wine room, media room, **pool/spa with sunken fire pit, outdoor kitchen, and bocce ball court.**
    (949) 697-8855
    We can help!
    Listing Contact
    Rob Smith
    Rob Smith
    Real Estate License ID: 01113111
    Learn More
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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.

    More about this property
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