Multi-Tenant Retail and Office
For Sale
$3,895,000
1806-1810 Newport Boulevard, Costa Mesa, CA 92627
Fee-simple retail asset with multiple storefronts along a high-traffic boulevard and connected rear office/storage space.
Property Size4,975 SF
Lot Size0.23 Acres
Price / SF$260.10
Days on Market95
Property Features for 1806-1810 Newport Boulevard
General Information
Standard status
Active
Size
4,975 SF
Lot size
0.23 Acres
Property subtype
Retail
Zoning
C2: General Business District
Additional Details
Traffic Count
92,000 vehicles/day
Building Details
Building Size
4,975 SF
Year Built
1929
Tenancy
Multi
Listed By:
Corey Hopkins
(714) 928-6171
Source:
Srsre
Added: Jun 3
Changed: Sep 5
Last Checked: Sep 5 at 3:34AM
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 Corey Hopkins
Investment Insights
Based on property information with market context.
SRS Capital Markets presents a fee-simple opportunity at 1806–1810 Newport Boulevard. The property is a highly visible, multi-tenant retail asset comprising three buildings on two parcels totaling approximately 10.23 acres, with about 4,975 SF of building area. Five units serve the site: three storefront spaces fronting Newport Boulevard, and two additional rear units currently used for office and storage. A private pedestrian walkway connects the rear parking area to the Newport Boulevard sidewalk, supporting convenient tenant and customer movement.
The site sits at the confluence of Newport Boulevard and Harbor Boulevard, described as one of the busiest intersections in all of Orange County. Newport Boulevard sees approximately 192,000 vehicles per day, providing strong daily exposure for the fronting retail components. The layout includes parking in the rear with pedestrian access to the main sidewalk via the on-site walkway.
This configuration can work well for operators seeking frontage-driven retail space paired with functional back-of-house or office/storage use. For buyers, the combination of street-facing storefronts and rear office/storage units within a small, purpose-built multi-tenant setting may offer flexibility in tenant mix and unit utilization, based on the existing configuration.
The site sits at the confluence of Newport Boulevard and Harbor Boulevard, described as one of the busiest intersections in all of Orange County. Newport Boulevard sees approximately 192,000 vehicles per day, providing strong daily exposure for the fronting retail components. The layout includes parking in the rear with pedestrian access to the main sidewalk via the on-site walkway.
This configuration can work well for operators seeking frontage-driven retail space paired with functional back-of-house or office/storage use. For buyers, the combination of street-facing storefronts and rear office/storage units within a small, purpose-built multi-tenant setting may offer flexibility in tenant mix and unit utilization, based on the existing configuration.
Key Highlights
- Fee‑simple multi‑tenant retail asset at 1810 Newport Boulevard at the confluence of Newport Blvd and Harbor Blvd
- Three buildings on two parcels totaling ±0.23 acres with approximately ±4,975 SF of building area
- Five total units: three storefront spaces fronting Newport Blvd plus two rear units used for office and storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$248,293
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,965,860
$5.0M
Cap Rate 7%
$3,547,043
$3.5M
Cap Rate 9%
$2,758,811
$2.8M
Market Conditions
NOI Build-Up for 14,975 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$395.3K $26.40/SF
− Vacancy
−$64.3K −$4.29/SF
EGI
$331.1K $22.11/SF
− OpEx
−$82.8K −$5.53/SF
NOI
$248.3K $16.58/SF
Area
Costa Mesa, CA
Vacancy
16.26%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,965,860
Cap Rate 7%
$3,547,043
Cap Rate 9%
$2,758,811
Alternative Uses
Best Use
Office B
$3.55M
$3.10M – $4.14M
NOI $248,293 @ 7.0% cap · market cap 6.37%
Second Best
Retail
$3.44M
$3.01M – $4.02M
NOI $240,988 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$5.07M
$4.44M – $5.92M
NOI $355,030 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
92,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,406
Businesses Nearby
Explore this area
Business Placement
Demographics for 92627, CA
61,764
Population
23,286
Households
2.7
Avg Household Size
36
Median Age
42%
College-Educated
85%
High-School Grad
6.4 sq mi
ZIP Area
9,651
Density / Sq Mi
$105,039
Median Household Income
$49,236
Median Earnings
$2,299
Median Rent
$1,074,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Fee-simple retail asset with multiple storefronts along a high-traffic boulevard and connected rear office/storage space.
Where is this strip mall located?
The property is located at 1806-1810 Newport Boulevard Costa Mesa, CA.
What is the asking price?
The asking price for this property is $3,895,000.
What are key features of this property?
This property features: Fee‑simple multi‑tenant retail asset at 1810 Newport Boulevard at the confluence of Newport Blvd and Harbor Blvd; Three buildings on two parcels totaling ±0.23 acres with approximately ±4,975 SF of building area; Five total units: three storefront spaces fronting Newport Blvd plus two rear units used for office and storage
