Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    215 Marine Ave Newport Beach, CA 92662

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $1,749,000

    Mixed-use building on Balboa Island near dining.

    Lot size:
    0.06 Acres

    Property Features for 215 Marine Ave

    General Information

    Property type
    Investment
    Standard status
    Contract
    Lot size
    0.06 Acres

    Building Details

    Year built
    1938

    We can help!

    Listing Contact
    Larry Weiner
    Source: Elliman

    Listing Agent: Larry Weiner

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Balboa Island Mixed-Use Income Property

    This mixed-use building is located on Balboa Island in Newport Beach. The property features a remodeled front-facing unit (Unit A) with 2 bedrooms and 1 bath, including a stack washer/dryer hookup, central A/C, and a kitchen with Viking stainless steel appliances. The rear unit (Unit B) is vacant and contains 1 bedroom and 1 bath, a kitchen with stainless steel appliances, and a laundry room with side-by-side washer/dryer hookup. Additionally, the property includes a storefront (215½ Marine Avenue – Bikini Alley) and a real estate office with a 2-car attached garage and alley access. The building is located within walking distance of restaurants and dining.
    Location Intelligence

    Current Use by Public Records

    Bikini Ally Swimwear Store Kimberleedrake Real Estate Agency Balboa Jewelry & Coin (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Real Estate Agency Grocery & Convenience Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Newport Beach
    County
    Orange
    State
    California
    Longitude
    -117.8900047
    Latitude
    33.6063934

    Nearby Similar for Sale

    • $2,995,000
      2,000 SF

      Newport Beach Mixed-Use Investment

      Two-unit commercial property with income and redevelopment potential.
      3000 Newport Blvd, Newport Beach, CA 92663
      View Details
    • New
      $4,500,000
      2,934 SF

      Beach Proximity Duplex in Newport

      Duplex near the beach, offering rental income potential.
      5119 River Ave, Newport Beach, CA 92663
      View Details
    • New
      $3,495,000
      1,280 SF

      Charming Duplex Steps From Beach

      Desirable Newport Beach duplex near beach and bay.
      1613 E Balboa Ave, Newport Beach, CA 92661
      View Details
    • $3,150,000
      1,552 SF

      Turnkey Duplex in Newport Beach

      Newport Beach duplex with short term rental permits.
      205 42Nd St, Newport Beach, CA 92663
      View Details
    • $749,000

      Turnkey Newport Beach Income Property

      Established short-term rental business with real estate in prime location.
      100 Scholz Plz, Newport Beach, CA 92663
      View Details
    • $2,000,000

      Newport Beach Commercial Building For Sale

      Free-standing commercial building in Mariners Mile district.
      1520 W Coast Hwy, Newport Beach, CA 92663
      View Details
    • $9,590,000
      3,185 SF

      Oceanfront Duplex in Newport Beach

      Oceanfront duplex with panoramic views and renovation potential.
      5901 Seashore Dr, Newport Beach, CA 92663
      View Details
    • Contact for pricing

      Prime Location in Newport Beach

      Located in prestigious community with high visibility and access.
      2711-2713 East Coast Hwy, Newport Beach, CA 92625
      View Details
    • $1,299,000
      1,279 SF

      Newport Beach Office Condo For Sale

      Office condo available for purchase in Newport Beach, California.
      4340 Von Karman Ave, Newport Beach, CA 92660
      View Details
    • $8,995,000

      Newport Beach Equestrian Estate

      Rare equestrian estate with stable and trail access.
      2173 Orchard Dr, Newport Beach, CA 92660
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building on Balboa Island near dining.
    Where is this mixed-use property located?
    The property is located at 215 Marine Ave Newport Beach, CA.
    What is the asking price?
    The asking price for this property is $1,749,000.
    What are key features of this property?
    This property features: - Rare opportunity to purchase an income-producing, mixed-use building on Balboa Island, Newport Beach.; - Prime location within walking distance to gourmet restaurants and premiere dining.; - Unit A: Remodeled **2-bedroom, 1-bath unit with Viking stainless steel appliances and central A/C.**
    (818) 501-4888
    Request Owner's contact information
    215 Marine Ave Newport Beach, CA 92662
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    215 Marine Ave
    Newport Beach, CA 92662
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    215 Marine Ave Newport Beach, CA 92662
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Larry Weiner
    Real Estate License ID: 00945753
    (818) 501-4888
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!