1920 Balboa Blvd Newport Beach, CA 92663-4312

Property Details for 1920 Balboa Blvd

Lot size

0.24 lot acres

Property type

Commercial real estate

APN

047-161-38

APU

4716138

Description

This exceptional investment opportunity presents a fee-simple 7-Eleven convenience store located at 1920 W Balboa Blvd, Newport Beach, CA 92663. The property boasts a 3,651 square foot building on a 0.24-acre lot, featuring 13 parking spaces. Currently operating under a NNN lease with a credit-rated tenant, the property offers a strong 4.40% cap rate and a substantial NOI of $261,928. The lease, with a remaining term of 7 years, includes 10% rent bumps every 5 years, providing a built-in hedge against inflation. The property benefits from a high-income area, with an average household income exceeding $232,820 within a 1-mile radius, projected to increase further. The location is highly desirable, situated on the Balboa peninsula, a high-traffic area with approximately 21,000 vehicles per day on W Balboa Blvd and approximately 50,000 vehicles per day on nearby Pacific Coast Highway. Proximity to Hoag Hospital Newport Beach and Newport Harbor High School further enhances the property's strategic position. The property is zoned MU-W2 (Mixed Use) and was built in 1975. Four 5-year lease options are available. The asking price is $5,952,850, translating to $1,630.47 per square foot. This is a rare opportunity to acquire a coastal Orange County retail property with a strong tenant and significant upside potential. The property's high visibility and prime location make it an attractive investment for discerning buyers seeking a stable, high-performing asset.

Location Insight

City

Newport Beach

County

Orange

State

California

Longitude

-117.927

Latitude

33.6085

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments