333 Old Newport Blvd Newport Beach, CA 92663

Property Details for 333 Old Newport Blvd

Property size

1,065 SF

Property type

Commercial real estate

Description

This thriving hair salon in Newport Beach, California presents a unique investment opportunity. Located at 333 Old Newport Blvd, 92663, this 1,065 square foot business boasts a stunning, modern design. Features include eight individual hair stations, two sink bowls, a dedicated manicurist station, and ample storage space within a well-appointed storage room complete with upper and lower cabinetry and a sink. The salon also includes two bathrooms – one for clients and one for employees. The sophisticated ambiance is enhanced by wood paneling, wood flooring, crystal chandeliers, and decorative mirrors. A comfortable waiting area with a couch and chairs provides a welcoming space for clients. The current lease expires May 1, 2025, with approximately 0.4 years remaining. The asking price is $160,000, representing a price per square foot of $150.23 and a remarkable 40.62% cap rate, generating a net operating income (NOI) of $65,000. Organic hair products and existing inventory are included in the sale. This turnkey operation is ready for a new owner to step in and continue its success. The property is situated in the desirable Orange County area, offering excellent visibility and access to a strong client base. This is an exceptional opportunity to acquire a profitable, established business with significant growth potential.

Location Insight

City

Newport Beach

County

Orange

State

California

Longitude

-117.928

Latitude

33.6249