Newport Beach Turnkey Office
For Sale
$4,960,000
6 Upper Newport, Newport Beach, CA 92660
Premium office space in prestigious Newport Beach business location.
Property Size17,556 SF
Price / SF$282.52
Days on Market545
Property Features for 6 Upper Newport
General Information
Standard status
Active
Size
17,556 SF
Building Details
Year Built
1980
Listing Agency:
LUXRE REALTY, INC.
Listed By:
MICHAEL BENTE
Source:
Corcoran
Added: Apr 21, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LUXRE REALTY, INC.
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Investment Insights
Based on property information with market context.
This fully improved, turnkey office campus is located in Newport Beach, Orange County. The property spans two adjoining parcels, offering a combined 14,650 square feet of premium office space on a 17,556 square foot lot. The office campus includes 22 private offices, each with individual heating and air conditioning units. The interiors are extensively upgraded and thoughtfully designed, featuring multiple executive offices, dedicated break rooms, ample storage, and his and hers restrooms. Additional amenities include an executive bathroom, a 60-count humidor cigar area, and a 240-bottle wine locker. The building features full kitchens equipped with high-end appliances, including a KitchenAid refrigerator/freezer, Samsung microwave and oven, range, and washer/dryer. Outdoor patios, putting greens, TVs, and power outlets provide spaces for entertaining or employee relaxation. The property is strategically located adjacent to the 73 Toll Road and minutes from the 405 Freeway and John Wayne Airport, offering accessibility. It is also in close proximity to premier shopping centers and a variety of dining options. The property is held under a land lease structure with a current monthly lease rate of $18,123. The lease term extends through February 2036.
Key Highlights
- Prime Newport Beach location with exceptional access to major transportation routes.
- Turnkey, fully improved office campus with 14,650± SF of upgraded space, ready for immediate occupancy.
- Features 22 private offices, each with individual HVAC units.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$345,235
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,904,700
$6.9M
Cap Rate 7%
$4,931,929
$4.9M
Cap Rate 9%
$3,835,944
$3.8M
Market Conditions
NOI Build-Up for 17,556 SF
Gross rent
$524.6K $29.88/SF
− Vacancy
−$64.3K −$3.66/SF
EGI
$460.3K $26.22/SF
− OpEx
−$115.1K −$6.55/SF
NOI
$345.2K $19.66/SF
Area
Orange County, CA
Vacancy
12.25%
Lease Rate
$29.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,904,700
Cap Rate 7%
$4,931,929
Cap Rate 9%
$3,835,944
Alternative Uses
Best Use
Office B
$4.93M
$4.32M – $5.75M
NOI $345,235 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.90M
$5.16M – $6.88M
NOI $412,770 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,321
Businesses Nearby
Explore this area
Business Placement
Demographics for 92660, CA
36,259
Population
17,144
Households
2.1
Avg Household Size
46
Median Age
70%
College-Educated
98%
High-School Grad
9.6 sq mi
ZIP Area
3,777
Density / Sq Mi
$154,035
Median Household Income
$91,054
Median Earnings
$3,349
Median Rent
$2,000,001
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Premium office space in prestigious Newport Beach business location.
Where is this office building located?
The property is located at 6 Upper Newport Newport Beach, CA.
What is the asking price?
The asking price for this property is $4,960,000.
What are key features of this property?
This property features: Prime Newport Beach location with exceptional access to major transportation routes.; Turnkey, fully improved office campus with **14,650± SF of upgraded space**, ready for immediate occupancy.; Features 22 private offices, each with individual HVAC units.
