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

    215 Marine Newport Beach, CA 92662

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $5,145,500

    Income-producing mixed-use building in a prime location.

    Type:Commercial
    Added:
    Apr 24, 2026
    Days on Market:
    6
    Last Refresh:
    Apr 24 at 4:35 pm

    Property Features for 215 Marine

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1938

    We can help!

    Listing Contact
    Larry Weiner

    Listing agent Larry Weiner License #00945753

    Listing office

    Listing date Apr 24, 2026

    Source Elliman

    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 Larry Weiner

    Overview

    Balboa Island Mixed-Use Building

    This mixed-use building is located on Balboa Island in Newport Beach. The property includes 215 Marine Avenue – Unit A, a front-facing remodeled unit featuring 2 bedrooms and 1 bath, stack washer/dryer hookup, central A/C, and a kitchen with Viking stainless steel appliances. 215 Marine Avenue – Unit B is a vacant rear unit with 1 bedroom, 1 bath, a kitchen with stainless steel appliances, and a laundry room with side-by-side washer/dryer hookup. Additionally, the property includes 215½ Marine Avenue – Bikini Alley (store front) and 215 Marine Avenue – a real estate office with a 2-car attached garage and alley access. The location is within walking distance to restaurants and dining. The bike score is 73, making it very bikeable. The walk score is 92, indicating it is a walker's paradise. The transit score is 36, suggesting some transit options are available.
    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

    • $4,500,000
      2,934 SF

      Beach Proximity Duplex in Newport

      Duplex near the beach, offering rental income potential.
      5119 River Avenue, Newport Beach, CA 92663
      View Details
    • $2,800,000
      2,025 SF

      Updated Duplex Near Newport Beach

      Updated duplex, one block from the beach, investment opportunity.
      204 David Drive, Newport Beach, CA 92663
      View Details
    • $2,995,000
      2,000 SF

      Newport Beach Mixed-Use Investment

      Two-unit commercial property with income and redevelopment potential.
      3000 Newport Boulevard, Newport Beach, CA 92663
      View Details
    • $2,750,000
      1,692 SF

      Updated Duplex on Newport Peninsula

      Updated duplex near beach and bay with expansion potential.
      920 W Balboa, Newport Beach, CA 92661
      View Details
    • $2,799,000
      1,804 SF

      Newport Beach Duplex Near Beach

      Short-term rental permitted duplex, steps from the sand.
      203 Cedar Street, Newport Beach, CA 92663
      View Details
    • $7,995,000
      3,074 SF

      Newport Beach Duplex Opportunity

      Cape Cod style duplex in Newport Beach, California.
      400 40th Street, Newport Beach, CA 92663
      View Details
    • $729,000

      Turnkey Newport Beach Business Opportunity

      Established short-term rental business with real estate in prime location.
      100 Scholz, Newport Beach, CA 92663
      View Details
    • $3,150,000
      1,552 SF

      Turnkey Duplex in Newport Beach

      Newport Beach duplex with short term rental permits.
      205 42nd Street, Newport Beach, CA 92663
      View Details
    • $2,695,000
      1,451 SF

      Newport Beach Duplex Opportunity

      Duplex near the beach with flexible floor plan.
      213 33rd Street, Newport Beach, CA 92663
      View Details
    • $2,399,000
      1,122 SF

      Balboa Peninsula Duplex Near Beach

      Two-unit property near the beach in desirable Balboa Peninsula.
      612 W Balboa Boulevard, Newport Beach, CA 92661
      View Details
    • $3,950,000

      Newport Beach Mixed-Use Property

      Prime mixed-use property in Newport Beach near Hoag Hospital.
      306 Old Newport, Newport Beach, CA 92663
      View Details
    • $2,000,000
      2,880 SF

      Newport Beach Commercial Building For Sale

      Free-standing commercial building in Mariners Mile district.
      1520 W. Coast Hwy Newport Beach, CA 92663
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Income-producing mixed-use building in a prime location.
    Where is this mixed-use property located?
    The property is located at 215 Marine Newport Beach, CA.
    What is the asking price?
    The asking price for this property is $5,145,500.
    What are key features of this property?
    This property features: Income‑producing, mixed‑use building in Balboa Island, a highly desirable location.; Prime location: Walking distance to gourmet restaurants and premiere dining.; Unit A: Remodeled 2‑bedroom unit with VIKING STAINLESS STEEL APPLIANCES and CENTRAL A/C.
    (818) 501-4888
    We can help!
    Listing Contact
    Larry Weiner
    Real Estate License ID: 00945753
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!