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    Newport Beach Medical Office Space Title is generated by Realmo AI

    351-361 Hospital Rd, Newport Beach, CA 92663

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    Medical office space for lease near Hoag Hospital Newport Beach.

    Type:Office
    Property size:
    146,510 SF
    Added:
    Feb 28, 2023
    Days on Market:
    1191
    Last Refresh:
    May 12 at 11:35 pm

    Property Features for 351-361 Hospital Rd

    General Information

    Standard status
    Active
    Size
    146,510 SF
    Property subtype
    Office

    Spaces For Lease

    at 351-361 Hospital Rd Contact us

    We can help!

    Listing Contact
    Bryan McKenney
    Bryan McKenney

    Listing agent Bryan McKenney License #CA 01505792

    Listing office Med West Realty

    Listing date Feb 28, 2023

    Source Crexi

    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 Med West Realty

    HighLights

    • Walking distance to Hoag Hospital Newport Beach, providing strong referral patterns and clinical collaboration.
    • Located in the heart of Newport Beach, offering a prominent and accessible location.
    • 146,510 SF medical office building outpatient complex with flexible suite sizes.
    • Proximity to major thoroughfares allows convenient access for 995,000 patients within a 15‑minute drive.
    • Strong tenant mix, including an on‑site pharmacy.
    • Institutionally owned and operated, ensuring professional management.

    Overview

    Located in Newport Beach, the Newport Lido Medical Center consists of two medical office buildings at 351 and 361 Hospital Road. The 146,510 square foot outpatient complex is within walking distance of Hoag Hospital Newport Beach. This location may provide opportunities for referral patterns, clinical collaboration, and stability for healthcare providers. The buildings offer suite configurations, medical buildouts, and patient access. The location is accessible to 995,000 patients within a 15 minute drive. On-site retail amenities and surface and structured parking are available. A strong tenant mix includes an on-site pharmacy. The building is elevator served. There are 15 suites available. Tower I at 351 Hospital Road has suites 007 (6,934 SF), 200 (12,354 SF), 306 (1,713 SF), 309 (1,856 SF), 319 (2,280 SF), 401 (1,889 SF), 406 (1,913 SF), 601 (1,885 SF), 610 (1,912 SF), and 613 (1,783 SF). Tower II at 361 Hospital Road has suites 223 (2,366 SF), 229 (3,796 SF), 325 (1,487 SF), 523 (1,803 SF), and 527 (1,520 SF). Suites 309 and 319 in Tower I are contiguous up to 4,136 SF. Suites 601 and 613 in Tower I are contiguous up to 3,407 SF. Suites 523 and 527 in Tower II are contiguous up to 3,323 SF.
    Location Intelligence

    Current Use by Public Records

    Newport Lido Medical ... Medical Clinic

    Suggested Use

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

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

    Similar Places Nearby

    • Newport Mesa Animal Hospital — 1542 Newport Blvd, Costa Mesa, CA 92627
    • Mariners Mile Pet Clinic — 2630 Avon St, Newport Beach, CA 92663

    Location Insight

    • Map
    • Local Demand
    City
    Newport Beach
    County
    Orange
    State
    California
    Longitude
    -117.9292195
    Latitude
    33.6263725

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    FAQs

    What type of property is this?
    Medical Office Space - Medical office space for lease near Hoag Hospital Newport Beach.
    Where is this medical office space located?
    The property is located at 351-361 Hospital Rd Newport Beach, CA.
    What are key features of this property?
    This property features: Walking distance to Hoag Hospital Newport Beach, providing strong referral patterns and clinical collaboration.; Located in the heart of Newport Beach, offering a prominent and accessible location.; **146,510 SF medical office building outpatient complex with flexible suite sizes.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bryan McKenney
    Bryan McKenney
    Real Estate License ID: CA 01505792
    Learn More
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    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.

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