1520 W Coast Hwy Newport Beach, CA 92663

The property at 1520 W. Coast Highway in Newport Beach, California, is a free-standing commercial building with approximately 2,880 square feet of space. A smaller portion of the second floor is dedicated to office use, while the majority of the space is on the ground floor, making it suitable for a wide range of commercial uses. The building sits on approximately 13,068 square feet of land and is positioned on a ground lease with a long-term land lease in place, which includes twelve five-year renewal options extending the sublease to the year 2078. The ground lease monthly rent is currently set at $7,900 per month, with a 15% increase on the first day of each option term. The property includes 14 parking spaces evenly distributed on both sides and offers excellent visibility and access via West Coast Highway (Pacific Coast Highway/State Route 1) and nearby major freeways, including the 55, 73, and 405. Located in the vibrant Mariners Mile district, the property is surrounded by a diverse mix of retail, dining, and service-oriented businesses, such as Billy’s at the Beach, Sol Grill, and Thermador Repair Group, creating a dynamic commercial environment. The ground floor offers wide-ranging potential uses, including medical and dental offices, ambulance services, animal grooming, catering services, auto sales, repair, and washing, barber shops, beauty salons, restaurants, retail, health and fitness centers, outpatient surgery centers, and banking facilities, making this property highly adaptable for professional offices, retail, hospitality, and other commercial ventures. The property is vacant and may be remodeled or redeveloped to meet a buyer’s specific needs.